Sensex snaps 2-day winning run amid weak global cues; metal stocks weigh

Equity benchmark Sensex declined 123 points on Friday due to selling pressure in metal and energy stocks amid a bearish trend in global equity markets.

Rising crude prices and continued selling by foreign investors also weighed on market sentiment, traders said.

Snapping its two-day gaining streak, the 30-share BSE Sensex ended 123.52 points or 0.20 per cent lower at 60,682.70. During the session, the index touched a high of 60,774.14 and a low of 60,501.74.

The broader NSE Nifty slipped 36.95 points or 0.21 per cent to finish at 17,856.50.

HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M.

In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent.

In the broader market, the BSE midcap gauge rose 0.04 per cent, and the smallcap index gained 0.48 per cent.

Elsewhere in Asia, markets in Shanghai and Hong Kong ended with losses, while Tokyo and Seoul settled with gains.

Equity exchanges in Europe were trading with losses in the afternoon session. The US markets had ended significantly lower in the overnight session.

The rupee slipped 4 paise to close at 82.55 against the US dollar on Friday.

International oil benchmark Brent crude was trading 2.32 per cent higher at USD 86.46 per barrel.

Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 144.73 crore on Thursday, according to exchange data.