India: Divergent trend in trading volumes.

Overall Trends: Negative sentiment persisted in the domestic bourses amidst growing concern over a possible war with Pakistan. On a week-on-week basis the BSE Sensex closed at 3184.4 points, down by around 1.6 per cent over the previous week close. The trend at the National Stock Exchange was in line with that of the BSE. The S&P CNX Nifty also closed down by around 1.6 per cent over the previous close.

The trends in the futures market mirrored that of the cash market.

For instance, the near-month contract at the BSE closed the week down by around 1 per cent over the previous week. The contract with the same maturity on the Nifty closed the week down by …