Domestic equity benchmark Sensex gyrated some 560 points between gains and losses all through Friday amid mixed global cues, but ended flat with a slight positive bias. In the process, the benchmark indices logged their biggest weekly drops since July 2009, with the Sensex poorer by 6.62 per cent for the week and Nifty50 down some 6.80 per cent.
Capital goods major BHELBSE -13.13 % plunged some 14 per cent after swinging into losses in December quarter, while Adani Ports lost nearly 6 per cent on poor earnings. The duo, along with ONGC (down 4.64 per cent) and L&T (down 3.60 per cent) were the biggest losers in the Sensex pack.
The S&P BSE Sensex ended the day at 22,986.12, up 34.29 points or 0.15 per cent while the Nifty50 closed at 6,980.95, up 4.60 points or 0.07 per cent. The 50-share barometer of the NSE, the Nifty50, fell below the 6,900 mark for the first time since May 12, 2014, but ended higher.
Finance Minister Arun Jaitley tried to calm investor nerves on Friday, saying, "The Indian stock markets are inherently strong. Media reports on PSU banks' bad loan position is not fully correct. Banks are equipped to deal with bad loans issue. The government is committed to provide for capital needs of PSU banks."
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