Weekly wrap: Market plunges on high Europe yields, weak Re

Moneycontrol Bureau

With a cut of more than 5%, the market was unforgiving this week. There were days of high intra-day volatility, but there was no question as to the direction Indian equities were headed. High bond yields in Europe caused panic, and adding to the chaos was a distressing October inflation number, very weak rupee and the never-ending slew of disappointing second quarter results.

The week ended on a very sour note, with the Nifty falling 264 points to close just above the 4900 level. The Sensex shed over 800 points to close at 16,371.

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