Falling for the first time in five days, the benchmark Sensex today closed about 42 points lower from its highest in a week hurt by losses in telecom, IT, banking and metal shares.
TCS, HDFC, Bharti Airtel and Sesa Sterlite were among the biggest laggards. While telecom stocks were affected by fears of excessive competition linked to the ongoing auction, PSU banks saw selling as the two-day nationwide strike by public sector bank staff began today.
Metal shares slumped after Justice MB Shah Commission in its report tabled in Parliament said minerals worth about Rs 60,000 crore were illegally mined in Odisha during 2008-2011.
The Sensex resumed higher at 20,429.16 and firmed up further to a high of 20,434.50 amid higher global cues. However, it declined later to 20,312.21 on fresh selling in view of capital outflows, before ending at 20,334.27 -- a loss of 42.29 points or 0.21 per cent from Friday's closing level.
The index had risen 167.30 points in previous four days.
The NSE 50-share Nifty moved down by 9.75 points, or 0.16 per cent to 6,053.45, after moving in a narrow zone.
Uneasiness over macroeconomic signals after sluggish advance growth estimates kept the market volatile, traders said. Data showing that Foreign Institutional Investors sold shares worth net Rs 267.26 crore on Friday also hit sentiment.
The falling trend today was cushioned to some extent as realty and energy shares rose on value buying. Midcap and smallcaps closed up, indicating some retail investor interest.
Asian stocks rose after recent US jobs data spurred the biggest two-day rally for US equities since October. Key benchmark indices in China, South Korea, Japan, Singapore and Taiwan ended higher in a wide 0.05-1.99 per cent range.
Hong Kong's Hang Seng, however, eased 0.27 per cent.
Europe was trading higher in early trade today as global optimism grew the US Federal Reserve will delay a third cut in bond purchases. Indices in France, Germany and the UK rose.
