New Delhi, Sept. 7 -- The Nifty 50 extended its decline into a fourth straight week and ended below the previous week's low. Trading activity also picked up, with the index recording its highest volume in five weeks. After a period of relatively muted volumes, the rise in activity alongside the decline suggests that distribution intensified during the week.

The selling was particularly strong at the start of the week, when the index fell on heavy volume. From its recent swing high, the Nifty has now declined 3.54%.

Volumes have remained lower on most days since the introduction of CAS, with August 31 being the notable exception. The index has also failed to respond positively to SEBI's announcement of a review. Stronger-than-estimated G...