Punjab, Sept. 25 -- The Nifty hit a five-month low on Thursday, falling 317.75 points to 23,129.05 as the Sensex dropped 981.09 to 73,847.16. Friday barely recovered any of it, with the Sensex up 300.90 to 73,881.44.
Thursday was about banks
The Bank Nifty fell 1,002.75 points, or 1.77%, to 55,546.15 - a sharper fall than the broader index, with PSU banks and NBFCs leading it down.
Crude firming again and global bond yields rising were the stated triggers. Both hit financials first: higher yields mark down bond portfolios that banks are obliged to hold, and higher oil raises the inflation path that decides whether rates come down at all.
Friday recovered almost nothing
The Sensex added 300.90 points and the Nifty about 65, to 23,128.10...