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Market roundup: Sensex falls 131 points for week on rising geo-politics concerns

The Sensex started the week with a smart rise of 33,468.16 and hovered between 34,077.32 and 33,119.92, it closed the week at 33,176.00, showing a fall of 131.14 or 0.39 per cent.

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Bears ruled roost for the third week in row, this time on rising geopolitical concerns on fear of escalating trade war pulled down the key indices, as benchmark Sensex fell another 131.14 points to close at 33,176.00.

The Broader Nifty slid below the key 10,200-level to finish at 10,195.15, slipping 31.70 points.

Bulls remained confused as the potential global trade-war vented-out by Trump administration slowly but steadily came into intentness.

The markets ample gains during start of the week on illusion of receding trade war fears and strength of the US economy witnessed a trend reversal despite the country's positive macro-datas of CPI and WPI inflation, robust Industrial production (IIP) as well as World Bank prediction of India's growth of 7.3 per cent in FY19.

The market traded largely mute rest of the week sessions confined by subdued global peers due to escalating geopolitics worries after US levied tax on steel and aluminium imports and planned to impose sweeping tariffs on Chinese imports, while the US challenging India's export subsidy schemes at the WTO fanned investor uncertainty.

On the domestic front, RBI directives to banks banning issuance of letters of undertaking (LoU) led intense selling pressure in Banking and financials stocks before its recovery, while developments in political front TDPs move to quit ruling NDA alliance and moving of non-confidence motion accelerated market volatility.

The Sensex started the week with a smart rise of 33,468.16 and hovered between 34,077.32 and 33,119.92, it closed the week at 33,176.00, showing a fall of 131.14 or 0.39 per cent.

(The Sensex lost 835.01 points or 2.45 per cent in previous two week session).

The Nifty also resumed the week higher at 10,301.60 and traded between 10,478.60 and 10,180.25 before ending the week at 10,195.15, showing a loss of 31.70 points, or 0.31 per cent.

The weeks choppy momentum witnessed losses in IT, Metal, Capital Goods, Oil&Gas, Teck, Auto, Realty sectors.

While, gains seen in Consumer Durable, IPOs, Banks, HealthCare, FMCG, PSUs and Power counters.

The broader midcap and smallcap company shares outperformed the key indices.

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