India's BSE index fell 1.4 percent on Friday and posted its biggest weekly loss since December 2011 as blue chips such as Reliance Industries were hit by a range of factors including profit-taking and disappointment over the budget's lack of specifics.
Shares had surged to a string of record highs since last week ahead of the federal budget on Thursday, but investors said the government had not spelled out its action on a range of issues, especially in terms of reducing subsidies.
All BSE indexes ended in the red except for those in defensive sectors like IT, FMCG and healthcare, sending the benchmark down 3.6 percent for the week.
With budget out of the way, traders say the focus would shift to global markets, progress on monsoon, and earnings next week.
With budget out of the way, traders say the focus would shift to global markets, progress on monsoon, and earnings next week.
For more : www.capitalheight.com
No comments:
Post a Comment