The BSE Sensex recording the lowest close in 2013 while Nifty closed below the 6,000 levels. Indices plunged below the important levels with Sensex sliding below 19500 and Nifty crumbling below 5940 levels decisively.
The Sensex slumped 296 points, or 1.5% to 19,485 this week. During the same time, Nifty lost 95 points, or 1.6%, to 5,904. Broader markets underperformed the benchmark index. The BSE Mid-Cap index fell 3% and the BSE Small-Cap index declined nearly 4%.
During mid-week, the major blow to the markets that dampened the sentiments came in after India's gross domestic product (GDP) is estimated to grow an annual 5% in the 2012/13 fiscal year due to weak performance of the manufacturing, agriculture and services sectors. The estimate is the worst of all growth projections issued by the government and the RBI. Last month, the RBI had pared the GDP growth estimate for the fiscal year ending in March to 5.5%, the worst since 2002-03.