Tracking weak global markets and profit booking, Indian benchmark indices registered marginal declines during the week ended March 24.
The Sensex slipped 228 points or 0.7 per cent to 29,421 while the Nifty lost 52 points or 0.6 per cent to 9,108. On Friday, the BSE Sensex closed 89 points or 0.30 per cent higher NSE Nifty ended 22 points or 0.24 per cent up.
In the previous week, ended March 17, the Sensex had gained 703 points or 2.4 per cent to 29,649 while the Nifty jumped 225 points or 2.5 per cent to 9,160.
Broader markets underperformed the front liners, the BSE Midcap index slipped 0.3 per cent but BSE Smallcap index gained 0.5 per cent.
This year so far, the Sensex and the Nifty have jumped nearly 11 per cent. Market analysts don’t see a major correction in the markets in the near term as the rally run is being driven by global equity markets.
Meanwhile, the Rupee held its gains and hovered at a multi-month high. The domestic currency ended at 65.41 against the US Dollar on Friday.
In economic news, the Goods and Services Tax (GST) Council cleared four-supportive GST bills on Monday.
The four bills are: the Central Goods and Services Tax Bill 2017, the Integrated Goods and Services Tax Bill 2017, the Union Territory Goods and Services Tax Bill 2017 and the Goods and Services Tax (Compensation to the States) Bill 2017.
The bills are expected the tabled in Parliament on Monday.