Six of 11 sector gauges compiled by the National Stock Exchange ended lower.S-P BSE Sensex and NSE Nifty 50 indexes snapped their four-day winning streak dragged by losses in Reliance Industries, Kotak Mahindra Bank, ICICI Bank, Larsen - Toubro, IndusInd Bank and Bharti Airtel.
Since the Budget, which was presented by Finance Minister Nirmala Sitharaman on Saturday, the Sensex has and Nifty have surged 4 per cent each.
Concerns about the economic impact from a coronavirus epidemic led to a downturn in global sentiment which impacted Indian stocks as well.
Asian share markets fell on Friday and oil price gains stalled, as the growing death toll and economic damage from the coronavirus outbreak snuffed out a late-week rally.Since the Budget, which was presented by Finance Minister Nirmala Sitharaman on Saturday, the Sensex has and Nifty have surged 4 per cent each.
Analysts say that after a sharp surge in the benchmark indexes markets are correcting on account of a mild profit booking.The Sensex ended 164 points or 0.4 per cent lower at 41,142 and the NSE Nifty 50 index declined 40 points or 0.33 per cent to settle at 12,098.Six of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Realty index's 1.75 per cent decline.
Nifty Auto, Nifty Bank, Nifty Financial Services and Nifty PSU Bank indexes also fell between 0.5-1 per cent each.On the other hand, Nifty Media index was top sectoral gainer, up 1.7 per cent.Mid- and small-cap shares ended mixed as the Nifty Midcap 100 index rose 0.6 per cent and the Nifty Smallcap 100 index closed marginally lower.Eicher Motors was top loser in the Nifty 50 basket of shares, the stock fell 3 per cent to close at Rs 19,750.
Tata Motors, IndusInd Bank, Mahindra - Mahindra, Grasim Industries, Reliance Industries, Bharti Airtel, Tata Steel, Larsen - Toubro and HDFC also ended lower.On the flipside, Zee Entertainment was top gainer, up 5.5 per cent to Rs 248.
NTPC, Coal India, UPL, Axis Bank, Hero MotoCorp, Bharti Infratel, Hindalco and Titan were also among the gainers.