Share Market Weekly Review: The Second Wave of Corona Affected The Market
Share Market Weekly Review: The effect of the Second Wave of Corona was seen in the domestic stock market throughout the week. The selling continued on the share market throughout the week.
The selling stock in the country’s stock market was under pressure this week due to the outbreak of Corona in the country and poor foreign signals. However, the domestic stock market also recovered strongly in the last session of the week after the foreign market showed signs of improvement, yet the major sensory indices rose more than one and a half percent on a weekly basis. The Sensex closed above 49,000 and the Nifty also settled above 14,500. The 30-share Sensex Sensex based on the Bombay Stock Exchange (BSE) closed at 49,008.50 on Friday, up 849.74 points, or 1.70 percent, compared to the previous week’s closing.
The Nifty, a sensitive index based on 50 stocks of the National Stock Exchange (NSE), closed at 14,507.30, up 236.70 points or 1.61 percent in the last session of the week compared to the previous week. At the same time, the BSE Midcap index gained 74.13 points, or 0.37 percent, to 19,970.37, compared to the previous week, while the Smallcap index gained 1910.58 points or 0.94 percent to 20,278.96 from the previous week.
Beginning of the week with a fall
The upsurge in the domestic stock market continued throughout the week. After heavy fluctuations in the first session of the week, the Sensex fell by just 86.95 points, or 0.17 percent, to close at 49,771.29 from the previous session, while the Nifty was down by 7.60 points or 0.05 percent to 14,736.40.
Sensex dropped 871 on Wednesday
However, in the next session on Tuesday, the Sensex gained 280.15 points, or 0.56 percent, to close at 50,051.44 from the previous session and the Nifty also gained 78.35 points or 0.53 percent to 14,814.75. In the third session of the week on Wednesday, the Sensex fell 871.13 points to close at 49,180.31 on weak global cues and the Nifty also fell by 265.35 points, or 1.79 percent, to 14,549.40.
Boom returns in the last trading session
The fourth season of the week continued on Thursday as well. The Sensex lost 740.19 points, or 1.51 percent, to 48,440.12 from the previous session, while the Nifty closed 224.50 points or 1.54 percent down at 14,324.90 from the previous session. However, in the last session of the week on Friday, the rally returned and the Sensex gained 568.38 points or 1.17 percent to close at 49,008.50, while the Nifty gained 182.40 points or 1.27 percent to 14,507.30.