Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
Equity benchmarks, Sensex and Nifty ended marginally lower on Thursday, dragged by losses in IT, banks and consumption stocks despite a firm trend in global markets.
The S&P BSE index ended 80.74 points or 0.17 per cent lower at 48,093.32 while the broader NSE Nifty fell 8.90 points or 0.06 per cent to 14,137.35.
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The laggards on the Sensex pack were led by the Titan that slipped around 2 per cent, followed by Nestle India, HUL, HCL Tech, Infosys, ITC and Kotak Bank.
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On the other hand, Bharti Airtel, IndusInd Bank, Axis Bank, Bajaj Finserv and L&T were among the gainers.
“After the US Democrats won the Georgia Senate, global cues were positive in morning trade. Afternoon trade, however, saw profit-taking in FMCG stocks despite which we saw a close above 48K led by financials and metals,” said S Ranganathan, Head of Research at LKP Securities.
The broader market outperformed their larger peers as the S&P MidCap and SmallCap ended with gains at 1.05 per cent and 0.85 per cent respectively.
Elsewhere in Asia, bourses in Shanghai, Tokyo and Seoul ended on a positive note, while Hong Kong was in the red.
Stock exchanges in Europe were largely trading with gains in early deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.02 per cent lower at USD 54.29 per barrel.
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