Mumbai, Aug 14 (PTI) Equity indices nursed losses for the third straight session on Friday as investors pruned exposure to banking, financial and consumption stocks amid negative global cues.
Weak macroeconomic data and a depreciating rupee further curbed risk appetite, traders said.
Tanking 663 points from the day's high, the 30-share BSE Sensex settled 433.15 points or 1.13 per cent lower at 37,877.34.
The broader NSE Nifty slumped 122.05 points or 1.08 per cent to close at 11,178.40.
Axis Bank was the top laggard in the Sensex pack, slipping 2.81 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.
Only five index constituents ended in the green -- Sun Pharma, NTPC, Tata Steel, Titan and Infosys, rising up to 2.04 per cent.
During the week, the Sensex declined 163.23 points or 0.42 per cent, while the Nifty fell 35.65 points or 0.31 per cent.
"Indian markets tracked weak global cues in the latter part of the trading day to end with losses. The uncertainty was with regards to the US-China trade meet this weekend and a lack of wholesome pickup in economic activity in many countries, including China.
"The Indian retail inflation numbers that came in above the MPCs' target also put doubt on expected rate cuts by the RBI, which the market was looking forward to. Weak results especially in the Auto sector also contributed to the losses," said Vinod Nair, Head of Research at Geojit Financial Services.
Retail inflation rose to 6.93 per cent in July, mainly driven by rising prices of food items like vegetables, pulses, meat and fish, official data released post market hours on Thursday showed.
BSE auto, bankex, finance, oil and gas, FMCG and telecom indices fell up to 2.50 per cent in Friday's session, while metal, healthcare and consumer durables closed higher.
Broader BSE mid-cap and small-cap indices fell up to 1.02 per cent.
Global equities were under pressure following lacklustre industrial production and retail sales data in China.
Bourses in Hong Kong and Seoul ended in the red, while Shanghai and Tokyo settled with gains.
Stock exchanges in Paris, Frankfurt and London plunged up to 2 per cent in early deals, dragged by travel stocks, after the UK added more European countries to its quarantine list.
Global oil benchmark Brent crude was trading 0.65 per cent lower at USD 44.67 per barrel.
In the forex market, the rupee settled 6 paise lower at 74.90 against US dollar.
Meanwhile, India's COVID-19 caseload surpassed 24 lakh on Friday after 64,553 more people tested positive and the recoveries rose to over 17 lakh, the Health Ministry said.
With 17,51,555 people defeating the disease, the recovery rate has surged to 71.17 per cent. The death toll climbed to 48,040 with 1,007 people succumbing to the disease in 24 hours, the ministry data showed.
