The bears maintained their stronghold on the markets for the sixth consecutive week that ended on March 27. It made some recovery after the Rs 1.7 lakh crore welfare package announced by the Finance Ministry and the Rs 3.7 lakh crore liquidity stimulus package from the Reserve Bank of India (RBI) soothed sentiment.
However, benchmark indices underperformed their global peers as investors remained cautious over growth after a 21-day nationwide lockdown was announced earlier in the week to stop the spread of COVID-19.
While the BSE Sensex was down 100.37 points at 29,815.59, the Nifty50 dropped 85.20 points to 8,660.25. The carnage was much worse in the broader markets as the Nifty Midcap and Smallcap indices plunged 7-8 percent.
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