The 30-share index, BSE Sensex lost 940 points during the week ended Sep 26, on depressing reactions including delay in US bailout plan, closing of America’s second biggest banking institution caused a global meltdown. 

Moreover, the continuing credit crisis was another reason that pulled the Sensex down.

Inflation remained unaltered at 12.14% for the week ended September 13 even as the Finance Ministry said prices of essential items like cereals, pulses, sugar and edible oils went down on a weekly basis

The 30 share index, Sensex fell 940.14 points to 13,102.18 during the week, while the broad based NSE Nifty lost 260 points to 3,985.25 during the same period.

While commenting on the market condition, stock market analyst Vishwas Agarwal said that BSE 13,350 is a crucial support level for the market. 

Mr. Agarwal also said that clearing US bailout package is vital otherwise investors will see more fall in the worldwide equity market.

“One should wait in this scenario to buy or sell equity, just stay away as high uncertainty and lack of interest in market for trader , investor and mutual funds it is better to keep quiet,” added Mr. Vishwas.

Technical Analyst, A Suresh Kumar Iyer, Asit C Mehta Investment Interrmedaites said, “The Nifty opened marginally on the positive side, however, the consistent weakness pushed the Nifty to lower levels. The Nifty opened at 4,248.95 and reached a high of 4,303.25. It made a low of 3,970.35 and closed at 3,985.25. The Nifty lost 6.12 % on a weekly closing basis. The October futures closed with 22 points premium. The over all volume was at the low ebb.”