Sensex fell for third week in a row, losing 455.33 points while marking four month lows at 26,818.82, the broader Nifty also fell below the important 8,300-level succumbing to selling pressure following Donald Trump's win and Narendra Modi's demonetisation drive.
Market witnessed high drama for the week amid intense volatile swings before closing lower as highly speculative driven trading momentum.
The week's initial two session saw the market gaining on optimism perked up by global stocks gains on Democratic presidential candidate Hillary Clinton's win in US election FBI's clean chit on her personal email server probe, it was supported by stock specific earning results and plan for Infra reform to attract more investment led a short covering rally.
The unexpected victory of Donald Trump in US election and demonetisation of high value currency led an stocks crash as the index touched to hit rock-bottom of 15-month lows at 25,902.45 before bargain hunting and shorts hauled the market to some extent.
However, investors resonated to global recovery after factoring Trump victory and his pro-business policies, while banking rally due to demonetisation lifted domestic stocks. It was short-lived before reality tagged investors with US President-elect huge spending policies for economic expansion would stoke inflation may lead US interest rate hike and dent the appeal of emerging markets.
A rise in US treasury yields and subsequent sell-off in Asian markets led domestic market ending the week to mark four month lows.
The 30-share Sensex resumed higher at 27,552.27 and hovered between 27,743.46 and 25,902.45 before concluding the week at 26,818.82, a loss of 455.33 points, or 1.67 per cent.
The gauge has lost 1258.36 points in three weeks.
The NSE Nifty also fell 137.45 points, or 1.67 per cent, to close the week at 8,296.30, after shuttling between 8,598.45 and 8,002.25.
The selling was led by realty, consumer durables, auto, IT, tech, FMCG, capital goods and IPOs counters, also dropped were secondline shares of midcap and smallcap company shares.
While, Metal, Bankex, PSUs, HealthCare, OilGas and Power sectors gained.
Meanwhile, foreign portfolio investors (FPIs) and
foreign institutional investors (FIIs) sold shares worth Rs 3,656.56 crore during the week, as per Sebi's record including the provisional figure of November 11.
In the broader market, the BSE Mid-Cap index lost 375.51 points or 2.92 per cent to settle at 12,464.02. The BSE Small-Cap index fell 392.41 points or 3.05 per cent to settle at 12,485.07. The fall in both these indices was lower than the Sensex's decline in percentage terms.
Among sectoral and industry indices, Realty fell by 10.94 per cent, followed by Consumer Durables 7.92 per cent, Auto 5.72 per cent, IT 5.47 per cent, Teck 4.85 per cent, FMCG 3.70 pct and Capital Goods 1.19 per cent.
However, Metal rose by 5.04 per cent, Bankex 3.78 pct, Healthcare 2.16 pct, Oil&Gas 1.15 pct and Power by 0.80 per cent.
Among the 30-share Sensex pack, 17 stocks fell and the rest of them rose in the week.
Maruti Suzuki India was the biggest loser in the Sensex pack it fell 10.12 per cent. TCS by 9.66 pct.
Mahindra & Mahindra (M&M) fell 9.52 per cent to Rs 1,241.85. The company said it will participate in the proposed rights issue of Mahindra Lifespace Developers. It was followed by Hero Motoco 9.17 pct, HDFC 7.93 pct, Asian Paints 7.58 pct, Bajaj Auto 5.88 pct, HUL 5.49 pct and Infosys 5.04 pct.
State Bank of India (SBI) was the top Sensex gainer it jumped 12.37 per cent to Rs 272.90. The bank's net profit fell 34.56 per cent to Rs 2538.32 crore on 8.29 per cent growth in total income to Rs 50742.99 crore in Q2 September 2016 over Q2 September 2015.
It was followed by Dr Reddy's Laboratories 5.96 pct, Tata Steel 5.90 pct, Power Grid 5.59 pct, Sun Pharma 5.55 pct, Axis Bank 4.25 pct, Lupin 2.76 pct and Coal India 2.73 pct.
The total turnover during the week on BSE and NSE rose to Rs 19,010.81 crore and Rs 1,28,204.91 crore, respectively, as against last weekend's level of Rs 15,202.41 crore and Rs 86,479.33 crore.
