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Sensex closes weak with first fall in 6 weeks

Investors looked forward to Yellen's speech to check for any confirmation on March rate increase

BSE

The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai (Photo: Reuters)

Press Trust of India Mumbai
The market's first weekly fall in six came after the Sensex on Friday stayed on the side of caution despite deep swings as it failed to completely shake off growing concerns about US Fed action later this month.

Investors looked forward to Federal Reserve chief Janet Yellen's speech to check for any confirmation on March rate increase.

The Sensex started lower and continued its slide to hit a low of 28,716.21, but across-the-board buying towards the finish line saw it recover most losses to settle down by 7.34 points, or 0.03 per cent, at 28,832.45.

The gauge had lost 145 points in the previous session as, investors booked profit after the recent run-up.
 

On similar lines, the wider NSE Nifty closed down 2.20 points, or 0.02 per cent, at 8,897.55, after shuttling between 8,860.10 and 8,907.10.

On a weekly basis, the BSE Sensex fell 60.52 points, or 0.20 per cent, and the Nifty 41.95 points, or 0.46 per cent, halting a five-week rising streak. Services sector activity rebounded in February for the first time since October, as was borne out by the Nikkei India Services PMI.


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First Published: Mar 03 2017 | 5:28 PM IST

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