On the back of one of the major FII selloffs seen in recent times, the markets succumbed to strong corrective pressure through the week and ended the week on a very weak note. The Nifty 50 remained under selling pressure for the entire week; at no point in time, did it show any intention to stage a technical pullback. While the weakness persisted in all five trading sessions, the trading range also got wider. The Nifty found itself having oscillated in an 1167-point range over the past five days. There was a resultant rise in the volatility as well; the India VIX surged by 18.10% to 14.13 on a week-on-week basis. The benchmark Nifty 50 closed with a deep weekly cut of 1164.35 points (-4.45%).
