Sensex down for 4th straight week;dips 189 pts on global probs

The benchmark S&P BSE Sensex continued its downward march for the fourth straight week, tumbling 189 points to end at two-month low of 26,108.53 after plunging below the 26,000-level during the truncated week under review on global growth worries and capital outflows.
The BSE and the NSE were closed on October 15, 2014 on account of assembly elections in Maharashtra and Haryana.
The Sensex resumed slightly lower at 26,275.07 but tried to recover to log a high of 26,550.79 on better-than-expected Chinese trade data and fall in global crude oil prices to near 4-year low that will help India to contain current account and fiscal deficit.

However, heavy sell-off across the board on Thursday due to concerns over the global growth worries pulled the world stock markets down.
Besides, depreciation in rupee to over 7-month low at 61.93 against the US dollar on risk-aversion, weighed negatively on the bourses.
As a result, it dropped below 26,000-mark after two months to a low of 25,910.77 before recovering some ground following smart rise in banking shares on the last day of the week to settle at 26,108.53, still exhibiting a fall of 188.85 points, or 0.72 per cent.
It also got support at the fag-end on hopes that the BJP will be in a strong position in state election results in Maharashtra and Haryana which would give a much-needed boost to economic reforms.

The Sensex has lost 981.89 points, or 3.62 per cent, in straight four weeks.