Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
SBI sources said the other reason to clean up the balance sheet was to avoid any embarrassment at a later stage, when stressed assets would be thrown up by technology.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
Going forward, markets will take cues from Reliance Industries earnings on Monday, and the Reserve Bank of India's policy on Tuesday on rate hike.
Out of 2,945 stocks traded, 1,634 advanced while 1,194 declined.
The NSE Nifty settled with a loss of 29 points at 5,526.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
Invest 5 to 10 per cent in a banking sector fund. Ensure that mutual fund's portfolio includes all three players -- private sector banks, public sector banks and NBFCs.
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
The Sovereign Gold Bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges -- the NSE and BSE.
Market sentiment suffered a jolt after other Asian markets closed with widespread losses and European markets dropped in early trade
Banking stocks have done very well in the September quarter. Against the Sensex's roughly 13 per cent rise, the BSE Bankex is up over 30 per cent since the end of June.
The Nifty ended at 5,386 -- down 15 points.
Nifty declined 14 points to close at 6145.
The country's top private sector lender, ICICI Bank, made its entry into the list of the top 10 most valuable companies by market capitalisation this week, helped by a sharp rise in banking stocks.
After the peak of the rally, the 'champion sectors' tend to underperform or perform in line with the market
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Nifty opened in the red at 5,468 on back of lacklustre cues from Asia and swung between 5408 and 5507.
The NSE Nifty has settled (provisional)17 points down at 5,256. The market breadth was negative, out of 3,005 shares traded, 1,711 declined and 1,165 advanced on the BSE.
The NSE Nifty shed 62 points from a high of 5,416, before signing off with a loss of 18 points at 5,368. The market breadth too turned negative at close. Out of 3,029 stocks traded, 1,631 declined and 1,280 advanced on the BSE.
The Nifty shed 11 points at 6,146. In the broader markets, the midcaps shed 0.2% and the smallcaps ended flat at 9,841.
Markets exhibited weakness throughout the day on negative cues from Asian and European markets. Weakness in banking stocks, along with metal and realty saw the markets extend losses in late noon trades.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
Heavy institutional buying in banks and technology counters helped the Bombay Stock Exchange's benchmark index end at an over seven-month high, overcoming uncertainty on the outcome of the elections and weaker-than-expected industrial output data.
Sun Pharma stole the show in the Sensex pack, spurting 3.91 per cent, followed by M&M at 2.87 per cent.
Shares of power, IT, tech, utilities and capital goods firmed up
The NSE Nifty ended at 48 points at 5,241. BSE market breadth was marginally negative. Out of 3,007 stocks traded, 1,548 declined while 1,342 advanced.
The market last tumbled 10% or more in December 2016 following demonetisation. The decline was followed by a sharp rebound. This time the chances of such a v-shaped recovery are less.
The National Stock Exchange index, Nifty, also lost 57.05 points at 4,945.20. Marketmen said fears on interest rates going up mainly pulled down banking stocks while a robust rupee and Infosys lowering guidance for the whole year weighed against the IT stocks.
The NSE Nifty shut shop at 5,101, down 23 points.
The NSE Nifty closed at 4,481, down 104 points. The market breadth was fairly negative -- out of 2,748 stocks, 1,921 declined, while 745 advanced on the BSE.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
The NSE Nifty ended at 4,564 -- down eight points. The market breadth was failry positive. Out of 2,745 stocks traded, 1,709 advanced while 945 declined. The rest were unchanged.
Even the poster children of the current banking crisis, like Citibank's Vikram Pandit and Bank of America's Ken Lewis, may be able to grind their way through the recession like the Japanese banks did in the 1990s. But, as a consequence, Japan's economy lost a decade. The alternative -- and one the US consistently urged on the Japanese at the time -- is to bite the bullet, recognise bad assets and recapitalise.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
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