Mumbai, Nov 25: The BSE Sensex fell by 845.49 points or 4.29 per cent (pc0 to 18,852.87 in the week ended on November 23.
The broader S&P CNX Nifty index of NSE also eased by 298.25 points or 5.04 pc to 5608.60 during the same period on sustained selling pressure by FIIs and domestic financial institutional investors.
Brokers said, ' The market lost ground as foreign investors continued to withdraw funds from Indian markets amidst growing unease over US economic outlook and weakening credit markets in the US. Housing sector slump in United States coupled with weak dollar and surging oil prices weighed on global markets.
The Japanese yen strengthened to a two-year high against the dollar and also gained against the euro as investors reversed carry trades, where they borrow yen to buy high-yielding but risky assets.
Crude oil prices climbed back above USD 97 a barrel in thin trade on November 23 buoyed by the unrelenting decline in the US dollar. London Brent crude rose by 35 cents to USD 94.85 a barrel, while US light crude for January delivery stood at USD 97.35 a barrel.
The BSE Mid-Cap index declined by 3.33 pc to 8,228.50, while the BSE Small-Cap dropped by 2.02 pc to 10,171.43, brokers added.
On Monday, the 30-share BSE Sensex lost by 64.53 points at 19,633.36. The broader CNX S&P Nifty was up 0.8 points at 5,907.65. The market lost ground in late trade as index heavyweight Reliance Industries dropped and ITC slipped. On Tuesday, the market slipped deep into the red in late trade as IT and metal stocks tumbled. The 30-share BSE Sensex lost by 352.56 points or 1.8 pc at 19,280.80. The S&P CNX Nifty index of NSE ended down by 126.75 points or 2.15 pc to 5,780.90.
On Wednesday, the Sensex lost by 678.18 points or 3.52 pc at 18,602.62. At day"s low of 18,515.30 sensex had lost 765.50 points.
The broader CNX S&P Nifty was down 219.85 points or 3.8 pc at 5,561.05.
On Thursday, the market bounced back in late trade as banking and auto stocks jumped amidst volatile trade. The Sensex ended down 76.30 points or 0.41 pc at 18,526.32. The Nifty index ended low by 41.7 points or 0.75 pc lower at 5,519.35.
On Friday, the market shrugged off blasts in Uttar Pradesh and galloped in late trade on a volatile day of trading. It snapped the last six day losses by posting decent gains today. The 30-share BSE Sensex rose by 326.55 points or 1.76 pc at 18,852.87. The S&P CNX Nifty rose 89.25 points or 1.62 pc to 5,608.60.
The BSE Bankex fell by 5.35 pc to 10,414.36 in the week ended November 23. ICICI Bank eased by 6.49 pc to Rs 1140.35 in the week, State Bank of India declined by 3.20 pc to Rs 2251.20 and Axis Bank fell by 4.58 pc to Rs 929.95.
The BSE Capital Goods index dropped by 6.43 pc to 19,316.12 in the week. Larsen&Toubro fell by 6.29 pc to Rs 411.50, Bharat Heavy Electricals (Bhel) dropped by 8.73 pc to Rs 2543.20 and Jaiprakash Associates gained by 6.93 pc to Rs 1625.95.
The BSE IT index declined by 3.41 pc to 4,017.10. Infosys Technologies fell by 4.03 pc to Rs 1558, Wipro fell by 3.55 pc to Rs 442.05 and TCS declined by 2.26 pc to Rs 985.50. The BSE Power index crashed by 6.74 pc to 4,282.35. Reliance Energy declined by 5.51 pc to Rs 1725.10, Neyveli Lignite fell by 0.60 pc to Rs 214.30, Power Grid Corporation of India slipped by 2.92 pc to Rs 151.20 and NTPC slumped by 10.48 pc to Rs 236.60.
Financial services provider Religare Enterprises debuted on November 21. The stock debuted at Rs 323.75, a premium of 75 pc over the IPO price of Rs 185. The stock settled at Rs 521.70 on BSE on that day, a premium of 182 pc over IPO price.
Varun Industries, a Mumbai-based exporter of stainless steel kitchenware, debuted on exchanges on November 22, 2007. The stock debuted on BSE at Rs 105, a 75 pc premium compared to its issue price of Rs 60. It ended at Rs 112.65 on BSE, a premium of 87.75 pc over IPO price.
Allied Computers International, a Mumbai based IT hardware company, debuted on BSE on November 23 at Rs 21, a 75 pc premium compared to its issue price of Rs 12. It settled at Rs 37.70 on BSE, a premium of 214.16 pc over IPO price.
Barak Valley Cements, which manufactures various grades of ordinary portland cement, debuted on BSE on November 23 at Rs 65, a 54.76 pc premium over IPO price of Rs 42. It settled at Rs 56.05 on BSE, a 33.45 pc premium compared to IPO price.
A large number of foreign investors want to register in India to participate in the booming stock market, Securities&Exchange Board of India (SEBI) Chief M. Damodaran, told a business conference on Wednesday. He said a number of FIIs have approached SEBI for registration in the past one month.
India's wholesale price index rose by 3.01 pc in the 12 months to November 10 2007, below the previous week's rise of 3.11 pc, government data released on November 23 2007, showed. The annual inflation rate was 5.39 per cent during the corresponding week of the previous year, brokers added.