Sensex down 4 per cent this week

The market mood has turned distinctly bearish following a slew of negative factors as the benchmark sensex lost lustre for the fifth week in a row and ended the week down by over 4 per cent to nearly 43-week low of 14,571.29.

Spiralling double-digit inflation at 11.05 per cent due to higher crude oil prices, sustained selling by foreign funds and political concerns mainly weighed on the market sentiment that dragged the Sensex to its lowest level in the current calender year.

The Bombay Stock Exchange (BSE) barometer virtually crashed by 2,863.65 points or 16.42 per cent in last five weeks. It also slumped by a whopping 6,635.48 points or 31.29 per cent from its all-time peak of 21,206.77 recorded on January 10 in the current calender year.

The benchmark Sensex gyrated in a wide range of 15,789.62 points and 14,519.27 points before concluding the week at 14,571.29 points from last weekend's close of 15,185.92 points, a steep fall of 618.33 points or 4.07 per cent.

The Sensex has not seen this level since August 24, 2007 when it closed on 14,424.87 points. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) also tumbled by another 169.55 points or 3.75 per cent to end the week at 4,347.55 from previou s weekend's close of 4,517.10 points.

Inflation that was higher than market anticipation created a flutter on the bourses with the benchmark Sensex tanking over 500 points on Friday.