The whole week had been dramatic with the Indian stock markets being volatile and reactive to every news coming in. Same was witnessed on Friday with the markets jumping and plunging and ending the week by giving up much of its gains it had got in the earlier part of the week. Indian stock markets had a rather volatile outing today.
On Friday with the October season opening a buying proposition that seemed to have arisen pulled the Index in the green but could not sustain its increase and plunged with some profit booking coming in.
In the afternoon the markets saw it getting deep in the red and saw no respite towards the closing hours of the trading session too. Largely the metal, autos, and the banking stocks were the ones to take the toll of the markets. Aluminium stocks were mixed where Hindalco closed in red but Nalco showing some positive signs.
Asian markets were also giving mixed reactions throughout the week besides being dull on Friday too. Talking about the currency markets the Rupee is now trading at Rs.49.11 against the dollar. Volatility as seen has been too much over the weeks in September as mentioned earlier with markets being too reactive. With a new quarter and a month ahead and some major developments to take place it is to be seen how much volatility would continue.
Bell the bull says: Highly volatile week ending the expiry as well as the quarter at a deep cut