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The aftershocks of the Japanese earthquake, jitters from stiffening crude prices, rate hikes by the RBI, in its mid-quarter review of the monetary policy, and fresh political concerns after the ?cash-for-trust-vote' leaks ensured that market sentiments remained largely negative this week.
Despite some optimism, both the BSE Sensex and the NSE Nifty ended the week on a lower note with the former falling 1.6 per cent and the latter, 1.3 per cent. The BSE 500, representing the broader market, also reflected similar sentiments, closing the week with a 1.03 per cent fall. The BSE Mid cap and Small cap indices closed 0.3 per cent and 1.3 per cent lower respectively.
Among the sectoral indices, the BSE Consumer Durables index was the only one to end the week in the green, gaining about 1 per cent. Leading the pack of losers was the BSE Auto Index, which fell 3.2 per cent.
Twin worries of interest rate hikes affecting demand and the domestic auto sector bearing the brunt of the Japanese disaster triggered this fall. The index representing another rate-sensitive sector, realty, also lost 2.4 per cent this week. The FMCG, IT and Capital goods indices were others that lost between 1.5 to 2.75 per cent.
Moving to individual stocks, Parsvnath Developers tops the list of gainers with a 23 per cent rise, thanks to the buzz that the company is in talks with private equity players to sell 25 per cent stake in one of its projects.
Close on its heels, with a 22 per cent gain, is VIP Industries . The stock surged on reports that PE firm Blackstone bought a 2 per cent stake in the company.
Better-than-expected valuations for the insurance arm from the acquisition of 26 per cent stake in Reliance Capital by Nippon Life buoyed the stock 12.5 per cent up.
Concerns regarding Jyothy Labs embroiling itself in a bidding war for a majority control in Henkel India , after it bought a 14.9 per cent stake, pulled the stock down 18 per cent.
While supply-side issues and currency risk factors for Maruti Suzuki from its Japanese parent cost the stock a 7.5 per cent erosion this week, shares of Wockhardt tumbled 10 per cent following the Bombay High Court admitting a winding-up petition filed by the company's FCCB holders.
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