Sensex, Nifty End Modestly Lower

The benchmark BSE Sensex closed down 0.53 percent at 34,915.38, slipping 0.2 percent for the week.

IT and banking stocks pulled down both the indexes, ahead of elections in the key state of Karnataka.

The Sensex was up by 16.06 points or 0.05 per cent at the Wednesday's closing.

Shares of InterGlobe Aviation, after slumping almost 20 per cent in early deals, clawed back some lost ground to end 10.57 per cent lower after the company yesterday reported a 73 per cent plunge in profit for the March quarter.

"Markets corrected further on Friday as the Nifty ended in the red for the third consecutive day".

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On Thursday, Asian indices were showing a negative trend.

Meanwhile, the rupee edged one paisa higher to 62.63 against the US dollar in early trade today after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome. The BSE gauge had lost 73.28 points in the previous session. Market participants booked profits at higher levels in opening trade, brokers added. On the other hand, the S&P BSE auto fell by 278.80 points, the healthcare stocks receded by 146.88 points and the metal index declined by 145.92 points.

Airtel (+2.5%), Indiabulls HF (+1%), HUL (+0.96%), Yes Bank (+0.59%) and Dr.Reddy's (+0.58%) were the top gainers on Nifty50.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 148.42 crore, and the domestic institutional investors sold stocks worth Rs 578.92 crore.

Wipro (-2.3%), Asian Paints (-2.1%), Infosys (-1.7%), Tech Mahindra (-1.6%) and Sun Pharma (-1.5%) were the top losers in today's trade.

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