From the valuation angle, the market is showing similar signs of being over-valued without being in a bubble territory yet.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
The NSE 50-share Nifty spurted 97.25 points, or 0.92 per cent, to 10,715.50
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
Metal shares were the top gainers with Hindalco up over 5%.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
'There is no change in the overall story of economic recovery.'
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
India has a long way to go before it develops a culture of professional boards accountable to institutional investors. There is, therefore, no realistic alternative to reforming and strengthening PSBs under government ownership, says T T Ram Mohan.
It was the second straight week of gains for the benchmarks.
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
Most Asian markets were trading weak on Monday.
The broader NSE Nifty gained 22 points to 10,480.60
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
A glance back at some important events that occurred in 2018.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
Jaipuria has not specified the amount he is looking to raise, but says this is the right time to tap the capital markets.
Weakness in Infosys, L&T and Hindalco cap index gains.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Joydeep Ghosh takes stock of personal finances after the life-altering surprises of 2016.
