Testing Times

It was the seventh straight week of gains. But it had its bad moments. Monday (April 20) caught the bulls on the wrong foot. Asian markets declined in the morning trades on the back of worsening earnings. The gloom spread to the Indian shores and a highly volatile market kept pushing the indices into the red and green. The market closed lower with 19 of the Sensex stocks closing in negative territory. The BSE Banking index was the top loser while BSE Metal, BSE Capital Goods and BSE Realty bucked the negative trend. The U.S. market tumbled on concerns about the financial sector earnings. Bank of America slumped 24% and Citigroup Inc