After the relentless rally of past several weeks, the benchmark indices bucked the trend on Monday, taking a cue from weak European markets and lower US index futures, and also squaring off of long positions by few entities recently barred by SEBI.
There was total lack of buying support from both domestic institutions and FIIs; they were net sellers accounting for Rs 876 crore and Rs 14 crore respectively.
More than 800 stocks hit the lower circuit, while 252 stocks touched the upper circuit. The Sensex slid 430 points and settled at 14,665 while the broader Nifty lost 157 points to end at 4,430
On Tuesday, the bourses opened strongly and recovered previous day's losses. Both the Sensex and the Nifty closed above 15,000 and 4,500 point respectively. The Sensex ended higher at 15,127, up 461 points and the Nifty spurted by 121 points to close at 4,550. All sectoral indices closed higher. The top gainers were the BSE Realty, IT, Metals, Consumer Durables and Capital goods indices.
Rating agency CARE has assigned the least Grade 1 to the IPO of Mayajaal Entertainment, which indicates "poor fundamentals". Mayajaal, whose main business is the running of a multiplex near Chennai, proposes to issue 1.21 crore shares at a price to be determined by book-building.
On Wednesday, the markets witnessed a robust rally on the back of strong global cues and positive sentiment.
After touching a day's high of 15,580, a 10-month record, the Sensex ended with a gain of 339 points and settled at 15,466 and the Nifty surged 104 points to end at 4,655.
Sesa Goa, a Vedanta Group company, has agreed to acquire the mining assets of Dempo Group for Rs 1,750 crore in an all-cash deal. The assets include mining leases, rights and related infrastructure in Goa.
Sesa Goa on Thursday signed a definitive share purchase agreement to acquire VS Dempo and Co Pvt Ltd, which owns 100 per cent equity shares of Dempo Mining Corporation Pvt Ltd and 50 per cent in Goa Maritime Pvt Ltd
L&T on Thursday sold 14.3 million UltraTech shares, representing 11.49 per cent stake, at an average price of Rs 725 each for Rs 1,037 crore. These shares were retained by L&T when it sold its cement business to the Aditya Birla Group in 2004.
The Indian markets snapped its two-day winning streak on Thursday owing to profit-taking at higher levels by market players. The Sensex shed 55 points, to close at 15,411 and the wider Nifty lost 17 points to end at 4,637.
The Sensex, on Friday dipped further by 173 points to finish at 15,238, after touching the day's high of 15,600 and the Nifty slipped 54 points to end at 4,583 on account of selling by fund houses and retail investors.