Weekly wrap: High drama in Greece; Indian market unmoved

Moneycontrol Bureau

The rally seen towards the end of last week was carried forward, but news of a possible Greece referendum to the euro zone bailout package arrested gains early. Tides however reversed yet again as the European Central Bank cut rates by 25 basis point last night. The BSE Sensex ended the week with a loss of 243 points at 17,562.62. The Nifty closed at 5284.20, down 77 points from previous week's close. 

Market movers:

Global news flow, mainly from Europe, dominated the Street. Early in the week, Greek Prime Minister George Papandreou announced plans to hold a referendum in December to seek Greek citizens