New Delhi: A turbulent week that ended yesterday saw the Indian equity market lose one percent after two weeks of gains due to a policy rate hike by the RBI, FII selling, the BJP’s triumph in Gujarat, dropping crude oil prices, and expectations for the Fed to raise interest rates next week.
The BSE Sensex dropped 687 points or 1.1 percent for the week to end at 62,182, and the Nifty50 lost 113 points or 1.1 percent to settle at 18,497.
BSE Mid-cap Index and BSE Small-cap Index both had declines of 1% in the overall market.