SENSEX in bear hug
The Sensex had a free fall as the inflation figures were announced at noon. It went 200 points down when the 11.05 inflation number was announced. It lost another 200 points within two hours and closed down 516.70 points at 14,571.29.
It was the worst performing day for markets in Asia where the Nikkei saw a fall of 188 points and the Hang Seng 52 points.
The bank index was down three per cent for the week while the capital goods, oil and gas, metals and real estate index were down five per cent. The mid cap and small cap indices for the week were down 3.5 per cent and 2.5 per cent respectively.
The market sentiment will definitely get impacted severely by looking at this inflation number and this is already reflected in the strong selling wave witnessed in the markets on Friday.