A benchmark index of Indian equities markets shed 449 points this week, taking the last three weeks' loss to 1,868 points as 2G spectrum allocation scam and housing loan bribery scandal dampened sentiments and weighed heavy on the markets.
The 30-share sensitive index ( Sensex ) of the Bombay Stock Exchange (BSE) declined 2.29 percent or 448.83 points to 19,136.61 points in the weekly trade.Indian equity markets have closed deep in the red for the third straight week. The benchmark Sensex shed 1,868 points from its all time closing high of 21,004.96 points reached on special Diwalitr5ading session Nov 5.
At the National Stock Exchange (NSE), the 50- share S&P CNX Nifty ended at 5,751.95 points, down 2.63 percent in the week's trade.
Nifty declined 560 points its all-time closing high of 6,312.45 points touched on Muhurat trading on Nov 5.
A series of scams weighed heavy on the markets. The country's official audit agency Comptroller and Audit General said early this monththe telecomm minister arbitrarily alloted 2G spectrum licences, resulting in a loss of thousans of crores of rupees to the government exchequer.
The CBI has arrested senior officials from LIC Housing Finance, LIC, Bank of India, Central Bank of India and Punjab National Bank for allegedlyaccepting bribes to extend loans to realty companies.
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