execs Money Today Print & Close Sensex, Nifty fall on global tensions Shoaib Zaman August, 2014 The Bombay Stock Exchange (BSE) Sensex fell 155 points to 25,329 during the week. The main reason, say experts, was political tensions around the globe, especially in West Asia. "Global markets closed in the negative on the back of geopolitical tensions... The US approval to targeted air strikes on Iraq was the latest trigger,” says Sanjeev Zarbade, vice president, Private Client Group Research, Kotak Securities. He also pointed out that there was growing unease over the crisis in Ukraine. The index rose on Monday and Tuesday by 1.68 per cent to 25,846 points. But the most damage was inflicted on Friday when the index opened 300 points down. Barring healthcare and FMCG indices, which rose 0.10 per cent and 0.04 per cent, respectively, all other sectors closed in the red. Major losers for the day were realty and metal indices, which fell 3,89 per cent and 3.04 per cent, respectively. Among the A group companies, the top gainers during the week were Crisil (8.61 per cent), Amara Raja Batteries (6,09 per cent), Tata Chemicals (6.06 per cent), Aurobindo Pharma (5.81 per cent) and Cummins India (5.55 per cent). The top losers were Bhushan Steel (down 44.54 per cent), Torrent Power (13.49 per cent), Financial Technologies (13.27 per cent), Jaiprakash Power Ventures (11.79 per cent) and Syndicate Bank (10.75 per cent). Of the 4,150 stocks eligible for trading on the BSE, 85 remained unchanged, 800 went up and 2,118 fell. Foreign institutional investors took out Rs 3,414.51 crore on a cumulative basis (from both debt and equity markets). On the global front, Asian indices, too, closed in the negative on Friday, with Japanese and Korean markets seeing the steepest declines "Going ahead, we believe that geopolitical tensions will continue to be in the limelight. Investors are advised to use the opportunity to buy quality stocks with strong management pedigrees,” says Zarbade Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, says, "The dearth of domestic news makes Indian markets prone to global events.”After the ECB meet, German bond yields indicate fears about interest burden & fund allocation. Nair believes that the geopolitical risk has increased, which can impact crude oil prices. Amidst this risk spike, there is more room for volatility, he adds. Highlighting the silver lining, Nair points out that India Inc has improved its performance in the first quarter of 2014-15. "State elections may provide momentum to the government for reforms. Given the possibility of further consolidation in India, we should take the opportunity to add equity positions." Print 2 Close URL for this article http:?businesstoday intoday in/storyistock-markel-bse-sensex-nse-nifty-weekly-rend-report-aug- 8/1/209004.html @ Copyright 2010 India Today Group,