Mumbai: Declining for the second week in a row, both the benchmark indices -- BSE Sensex and NSE Nifty -- ended with losses of over 2 percent due to intense selling pressure.
The week saw market momentum veering on global cues and was further agonized by domestic stumbling blocks.
Lingering uncertainty over the passage of GST Bill in the ongoing winter session of Parliament was further squeezed by sharp sell-off across global markets ahead of the US Federal Reserve policy meet next week amid commodity prices slide.
Markets witnessed just a day of gains straddled by seven days of oversold position amid hectic short-covering and value-buying in fundamentally strong shares.
However, the joy was short-lived as uneasiness among investors, multiplied by continued foreign fund outflows and weakening rupee against the dollar, added to selling pressure.
The Sensex resumed higher at 25,746.03 and hovered between a high of 25,785.53 and a low of 24,930.43 before finishing the week at 25,044.43, showing a fall of 593.68 points, or 2.32 percent.
The index has lost 1,026.74 points, or 3.93 percent, in two weeks.
The 50-share NSE Nifty also dipped by 171.45 points, or 2.20 percent, to 7,610.45.
The gauge has lost 332.25 points, or 4.18 percent, in two weeks.
Barring the IT sector which traded somewhat positive, rate-sensitive sectors like banks, auto and realty reeled under maximum selling pressure.
Other sectors that bore the brunt included metals, PSUs, capital goods, oil & gas, power, FMCG, healthcare and consumer durables.
Foreign Portfolio Investors (FPIs) continued their selling spree during the week as they sold a whopping net Rs 1,066.83 crore as per the Sebi data, including the provisional figure of December 11.
The BSE small-cap and mid-cap indices also fell by 2.98 percent and 3.28 percent, respectively. The decline in both these indices was higher than the fall in Sensex in percentage terms.
Among the 30-share Sensex pack, 23 scrips declined and the rest rose during the week.
Major losers from the Sensex pack were VEDL (9.00 percent) followed by Coal India (8.18 percent), Dr Reddy (7.20 percent), SBI (5.75 percent), Tata Motors (5.49 percent), ONGC (5.32 percent), GAIL (4.90 percent), ICICI Bank (4.63 percent), Axis Bank (4.47 percent) and ITC (4.38 percent).
However, TCS gained by 2.45 percent and was the biggest gainer from the Sensex pack followed by NTPC (1.45 percent), Hindustan Unilever (0.69 percent), Infosys (0.43 percent), HDFC (0.32 percent) and Tata Steel (0.29 percent).
Among the S&P BSE sectoral indices, Metal fell by 5.18 percent, Realty (5.18 percent), Auto (3.56 percent), Bankex (3.49 percent), Capital Goods (3.40 percent), Oil&Gas (3.17 percent), Power (2.80 percent), FMCG (2.21 percent), Consumer Durables (2.11 percent) and Teck (0.03 percent) while Information Technology rose (0.54 percent).
The total turnover at BSE and NSE fell by Rs 14,350.77 cr and Rs 72,952.91 cr respectively from the previous weekend's level of to Rs 14,943.39 cr and Rs 94,797.17 cr respectively.
