Mumbai: The BSE benchmark Sensex gave up initial gains on Friday and closed 169 points lower at 36,025.54 as shares of Maruti Suzuki cracked after weak Q3 earnings, offsetting gains in Yes Bank, HDFC, ITC and TCS.
After surging over 250 points during the day to touch an intraday high of 36,474.48, the 30-share index gave up gains on widespread profit-booking in the later half of the session and hit a low of 35,953.15, before finishing 169.56 points, or 0.47 percent down at 36,025.54.
In a similar movement, the broader NSE Nifty ended 69.25 points, or 0.64 percent, down at 10,780.55, after shuttling between 10,931.70 and 10,756.45.
During the week, Sensex fell 361 points and the Nifty fell 126 points.
Brokers said sentiment suffered a jolt after the country's largest carmaker, Maruti Suzuki India reported 17.21 percent fall in its net profit for the third quarter ended December 31, 2018.
The company had posted a net profit of Rs 1,799 crore in the same period of the previous fiscal.
Maruti Suzuki emerged worst performer in the Sensex kitty, tumbling 7.40 percent after the company announced its third-quarter results.
Shares of the company ended 7.40 percent lower at Rs 6,516.35.
Other losers include Hero MotoCorp, ICICI Bank, Asian Paints, M&M, Tata Steel, Tata Motors, NTPC and SBI, falling up to 4.23 percent.
"Negative sentiments swayed across the market," said Paras Bothra, President, Equity Research, Ashika Group, adding that barring select IT and Pharma stocks, all sectors succumbed to pressure.
Meanwhile, Maruti also delivered below-consensus results on account of high raw material costs, he added.
On the other hand, Yes Bank, HCL Tech, Bharti Airtel and TCS were among the top gainers, rising up to 2.71 percent.
Sector-wise, BSE realty index suffered the most by slumping 4.09 percent, followed by auto index 3.14 percent, metal 1.08 percent, capital goods 1.02 percent, power 0.99 percent, capital goods 0.84 percent, PSU 0.78 percent, infrastructure 0.71 percent, bankex 0.63 percent, FMCG 0.39 percent and healthcare 0.36 percent.
While, consumer durables, IT and oil and gas indices ended in the positive zone.
Small-cap and mid-cap indices fell by 1.58 percent and 1.20 percent, respectively, largely in sync with the overall market trend.
Global cues were positive as Asian stocks ended higher.
According to Bothra, global markets are cautiously optimistic over the next round of trade negotiations between the US and China next week.
Elsewhere in Asia, Hong Kong's Hang Seng climbed 1.65 percent, Korea Kospi surged 1.52 percent, Japan's Nikkei gained 0.97 percent and Shanghai Composite Index rose 0.39 percent. Singapore Straits Times was up 0.56 percent and Taiwan edged up by 0.94 percent.
In the eurozone, Frankfurt's DAX gained 0.93 percent, while Paris CAC 40 was up 0.54 percent in their late morning deals. London's FTSE too gained 0.12 percent.
To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.
To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.
Updated Date: Jan 25, 2019 17:39:18 IST