This week the market would be in more volatile and bearish keeping the view of business done in the last week. In the week ended on May2, 2015, the stock markets in India disappointed investors and the major concern was the government move on retrospective taxation on capital gain by foreign funds.
Overall in the BSE Sensex lost 1.55 percent and Nifty shed 1.49 percent. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened slightly higher for the week at 27,565.49 points against previous close at 27,437.49 points. But it ended 426.63 points lower at 27,011.31 points with loss of 1.55 per cent.
In the mid-week on Thursday, the Sensex dived to three months low at 26,908.82 points. In the beginning of the week on Monday, the index lost 0.95 per cent or 260.95 points. The market was bearish throughout the week. On Wednesday and Thursday, the BSE Sensex fell 0.62 per cent and 0.79 per cent respectively.
At the National Stock Exchange (NSE), the broader 50-scrip Nifty closed at 8,181.50 points with a loss of 123.75 points or 1.49 percent. The major reason for the fall in the stock markers was worry over the government’s stand on retrospective taxation on capital gain made by foreign funds.