New Delhi, Oct 16 (TIWN): It was a tough week at the markets and almost all people were caught on the wrong foot in terms of movement. They were volatile and markets kept one eye on the US markets all the time.

With sharp gains registered on Wednesday and Friday, markets just about managed to survive and at the end of the week closed with small losses. SESENSEX lost 271.32 points or 0.47 per cent to close at 57,919.97 points while NIFTY lost 128.95 points or 0.74 per cent to close at 17,185.70 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.05 per cent, 1.33 per cent and 1.45 per cent respectively. BSEMIDCAP was down 2.66 per cent while BSESMALLCAP lost 2.26 per cent.

The Indian Rupee lost 3 paisa or 0.04 per cent to close at Rs 82.35 to the US dollar. Dow Jones lost and gained on alternate days with losses on Monday, Wednesday and Friday and gains on Tuesday and Thursday. Dow Jones gained 338.07 points or 1.15 per cent to close at 29,634.83 points. Data on inflation was not great but markets reacted with sharp losses and then gains on Thursday. Finally profit taking on Friday saw gains of the previous day being halved. There is now almost total consensus that at the next meeting of FED, rates would again be hiked by the customary 75 basis points.

In what is a worrying trend for Americans, 30year fixed mortgage rates which were at 3 per cent a year ago have more than doubled to 6.9 per cent currently. This rate is the highest in the last 20 years and it is affecting the common American significantly.

In primary market news the offer for sale from Tracxn Technologies Limited was subscribed 2 times overall. The QIB portion was subscribed 1.66 times, HNI portion remained undersubscribed at 0.80 times while Retail was subscribed 4.85 times. The issue received about 89,000 applications and against an issue size of Rs 308 crore, garnered subscription of Rs 480 crore, including anchor portion.