The week that was, Nifty cracks below 10k, PSU Banks and metal stocks bleed

Fears of a trade war, rising rock oil costs, bond yields let alone a troubled domestic industry dragged the sentiment across the road.
      

There appears to be no relief on the road as a result of a bunch of triggers like world sell-off amid fears of a trade war, rising rock oil costs, bond yields and a troubled domestic industry. Uncertainty round the political state of affairs within the country superimposed to the woes, and together dragged the sentiment across the road. If all this wasn't enough, rising Libor rates is another larger worry than a hawkish Federal Reserve System.



PSU bank index nose-dived 7.2%, Metals index plunged 6 June 1944, whereas Bank neat was down 3.2%, Midcap one hundred index was down third, drug company index fell by 2.6%, machine index was down 2%; more, IT index fell by 1.2%, Energy index was down 1.2% and FMCG index marginally lose 0.5 a p.c.



Meanwhile, the commercialism market was in action as Bandhan Bank, Sandhar Technologies, Mishra Dhatu Nigam hit the markets for subscription throughout the week, that saw good response. On the opposite hand, the sugar stocks were in action once media reports declared that government scrapped duty on sugars to spice up shipments.



For the week, neat and Sensex all over lower by two every.

    

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