Sensex, Nifty slid marginally in the week

Mumbai, Sep 6 (UNI) The key indices ended with a marginal loss, despite volatile sessions during the week ended yesterday, as Sensex lost 80.70 points to close at 14,483.83 and the broader-based S &P CNX Nifty lost 7.70 points at 4,352.30.

The sharp fall in oil price supported upward rally on the bourses in the initial part of the week, while the week global cues wiped out the gains in the later part, dealers said.

The market declined in three out of four trading sessions in the truncated week. Oil price declined sharply in response to less damage from Hurricane Gustav than the oil industry feared. Light, sweet crude for October 2008 delivery settled at USD 107.89, its lowest level in five months.

Small-cap and mid-cap indices nudged migrant higher. The BSE Mid-cap and Small-Cap index rose by 0.2 per cent at 5,753.72 and 6,905.22 respectively.

Foreign funds bought shares worth net Rs 766.60 crore in three trading sessions from September 1-4. Mutual funds bought shares worth a net Rs 159.30 crore during that period.

Bank shares witnessed choppy trade due to alternate bouts of buying and selling. Banking sector index jumped 163.16 points, or 2.33 pc, at 7,172.85 in the week.

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