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Nifty settles below 9,800, down over 1.5% for the week; Sensex ends flat

SI Reporter/New Delhi 29 Sep 17 | 03:31 PM

Benchmark indices pared gains to end flat, losing over 1.5% in the week on foreign fund outflows amid worries that the government may widen its fiscal deficit target of 3.2% of gross domestic product for the year ending in March 2018 to boost an economy that grew at a slower pace than expected.

Foreign investors net selling equities worth $1.1 billion during the month. They had sold worth $2 billion in shares in August.

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Markets saw a tough month in September as a slew of negative global and domestic factors, including expectations of further rate hikes by the US Federal Reserve and a weaker-than-expected economic growth at home, hit sentiment.

Meanwhile, the rupee also strengthened to as much as 65.28 per dollar, but was still down over 2% for the month against the dollar, its biggest monthly decline since November 2016.

Globally, Asian shares regained some poise after a tough week in which the gathering risk of a US rate rise lifted Treasury yields toward nine-year highs and left the dollar on track for its best week so far this year.

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Sensex

Company Price Gain (%)
M & M1,522.852.71
Cipla590.352.51
Sun Pharma.Inds.528.852.06
St Bk of India318.901.97
Wipro295.301.90

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