A morning walk down Dalal Street | Weakness in market likely to persist on backdrop of negative global sentiment

India market witnessed a third consecutive week of fall where both Sensex and Nifty fell by over 2 percent each.

The Nifty50 retested its crucial support at 10,000 but then bounced back. 

Both Sensex and Nifty slipped by about 14 percentfrom highs.

The Nifty index failed to hold 10,100 support levels which remained crucial for the index and slipped to touch a 7-month low of 10,004 levels. 

Weakness in the market is expected to be persistent on the backdrop of negative sentiment globally coupled with constant domestic turmoil on account of the liquidity crisis in financial sectors and nominal earnings growth in Q2FY18 so far, suggest experts.

As long as it holds 9,950 levels on closing basis, a marginal pullback is likely in coming series but capped at 10,400 levels.