Markets log worst week in 4 months

Investors poorer by ₹16.3L cr; Adani shares top laggards

- KISHOR KADAM

THE NIFTY DECLINED by 2.51% during the week, logging its worst weekly loss in four months, as investors turned risk-averse amid depressed market sentiment.

Both the Sensex and the Nifty recorded losses in all but one trading session of the week, largely driven by geopolitical tensions, mixed Q3 corporate earnings, and continued depreciation of the rupee against the US dollar that hit a fresh low on Friday.

On Friday, the Sensex slumped 769.67 points, or 0.94%, to close at 81,537.70, erasing all gains made in the previous session. The Nifty fell 241.25 points, or 0.95%, to end at 25,048.65. On a weekly basis, the Sensex declined 2.43%—another four-month low. The broader indices performed worse, with the BSE Midcap and the BSE Smallcap falling 4.2% and 5.8%, respectively. The BSE Smallcap's weekly decline was the steepest in 11 months (since February 14).

Broad-based selling made investors poorer by ₹16.3 lakh crore during the week, of which ₹6.96 lakh crore was wiped out on Friday alone.