The week that was: Macro, corporate events that moved mkts

Moneycontrol Bureau

Equity benchmarks rose over 2.5% for the week, but much of those gains came on Tuesday alone when the Sensex and Nifty surged nearly 3%.

Barring that session, a lackluster trend prevailed for the better part of the week. The mood is circumspect as the market heads into the third quarter earnings season. There is depressing news pouring in on every front, be it macro-economic, corporate or global.

Analysts are sharpening their pencils for some more earnings downgrade, while in the North Block, finance ministry officials are frantically reworking their spreadsheets to paper over the rapidly widening fiscal deficit.

A quick look at the key developments this week