India's benchmark indices ended lower for the third day in a row on Friday dragged by a decline in I.T., metal and banking stocks.
On a weekly basis, the indices fell by more than 1% in the first week of 2023.
The S&P BSE Sensex closed 453 points or 0.75% down at 59,900.37, while the NSE Nifty 50 ended 133 points or 0.74% lower at 17,859.45.
Tata Consultancy Services Ltd., JSW Steel Ltd., IndusInd Bank Ltd., Bajaj Finserv Ltd., and Tech Mahindra Ltd. were the top losers in the gauge.
Britannia Industries Ltd., Mahindra and Mahindra Ltd., Reliance Industries Ltd., BPCL Ltd. and Bajaj Auto Ltd. were the top gainers among the NSE Nifty 50 constituents.
The broader market indices were flat; S&P BSE MidCap was down 0.72%, whereas S&P BSE SmallCap was lower at 0.73%.
Eighteen out of the 19 sectoral indices compiled by the BSE declined, while only S&P BSE Fast Moving Consumer Goods advanced.
The market breadth was skewed in favour of the bears. About 1,432 rose, 2,073 declined, 134 remained unchanged on the BSE.
After snapping their three-week losing streak last Friday, the headline indices fell again this week. Sensex was down 1.55% and Nifty was lower by 1.36% in this week. The indices were up by 1.66% and 1.68%, respectively, last week.
The weekly sectoral performance showed only Nifty FMCG, Nifty Pharma and Nifty Auto advanced this week.
The Nifty I.T. fell the most 2.32% followed by Nifty Media by 2.29% this week.
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