Benchmark indices broke a 2-month weekly winning streak and ended the week marginally lower by just 0.26 per cent. However, some stocks from the Sensex and the Nifty saw huge cracks.

Among these include names like Yes Bank, IndiaBulls Housing Finance and JSW Steel. This week, the Nifty also saw one of the biggest single day fall of 2019, when it lost as much as 173 points on Thursday.

One of the reason for the fall was that nothing much came from the Monetary Policy except the usual 25 basis cut and worries over debt default at DHFL. This was largely on expected lines, though the RBI did not address worries over liquidity.

This week, saw worries over NBFCs re-surfacing, with DHFL being downgraded by rating agencies and reports of some delayed payment on the part of the company.

This also dragged other NBFC stocks lower during the course of the week, including names like IndiaBulls Housing Finance, L&T Finance Holdings etc.

However, select midcaps saw some huge damage to their share price. PC Jeweller was down a huge 34 per cent in trade, while Jet Airways was down 18 per cent, Reliance Infra was down 30 per cent and so was Reliance capital.

Markets may stabilize around these levels, unless worries over NBFCs re surface all over again.

Global cues strong

Global cues continued to remain strong this week, with the Dow Jones posting its best week since November after jobs data hinted at a possible rate cut in the US. The U.S. economy added just 75,000 jobs in May, against expectations of an increase of 180,000 jobs. Wage growth also slowed, leading to the possibility of a rate cut in the near future.

This is also good news for the Indian markets, which may see some recovery next week. However, broader markets have not been participating, which is not good news for small investors.

The rupee was more or less stable this week against the US dollar.