Sensex Wkly Review

What started off as a global sell-off got accentuated by the crash in global metal prices and severe margin pressuers on brokers. Adding fuel to the fire was the CBDT circular on traders' income, which was interpreted as a move to tax FIIs - a complete negative for the markets. The Sensex, which opened with a negative gap of 13 points at 12,273 on Monday, broke two landmarks (12,000 & 11,000) in a week's time. The index tumbled to a low of 10,799 - down 1,486 points from the previous weekend close. The Sensex finally ended the week with its largest-ever absolute loss of 1,346 points (11%) at 10,939.

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