Indian equities on Friday (June 28) as it lost more than 600 points followed by weak global cues, growing inflation and continued selling activity in key stocks.
 
The BSE Sensex closed the week with a huge loss of 619.60 points at 13,802.22, where the broad-based NSE Nifty ended the day at 4,136.65 after losing 179.2 points.

The inflation rate climbed up to 11.42 percent for the week ended June 14, as against 11.05% during the last week. The inflation rate is currently at the highest since May 6, 1995, when it was 11.11 percent.

Stock market analyst Vishwas Agarwal said, “Market was corrected sharply due to continued rise in inflation & crude oil prices and on going political crisis together with lack of any positive event.”

“One should be cautious at this stage as these problems have its own drastic impact on the market,” Mr. Agarwal added.

Mr. Agarwal suggested investors to stay away from the market.

He also said that before taking any fresh long position, investors should wait till this situation settle down.