Sensex, Nifty snap 5-week winning streak on profit-booking

TIL Desk/Business/Mumbai/ Stocks: Both the S&P BSE benchmark Sensex and NSE 50-share Nifty snapped their 5-week winning streak by tumbling 1,112 points and 356 points respectively due to profit-booking from investors in view of global tension amidst foreign capital outflows.

Anupam Singhi, COO, William O’Neil India said,” Trading restrictions announced by SEBI on 331 entities suspected to be shell companies affected the sentiment”. There was no respite for the market, as North Korea’s warning on a possible missile strike on the U.S. Pacific territory of Guam, spooked the global markets.

The Nifty started the week at 10,074.80 and traded in the range of 9,685.55-10,088.10. The index finally closed at 9,710.80, down 3.53 per cent from last Friday’s close. The Nifty had gained by 545.50 points or 5.73 per cent in previous five weeks.

After opening at 32,377.80 points, the Sensex gave away 3.44 per cent in this week to close at 31,213.59. During the week, the Sensex traded in a range of 31,128.02-32,396.14. The Sensex had gained by 1,403.80 points or 4.54 per cent in previous five weeks.