The Indian stock market on Friday failed to sustain the gaining momentum and slipped over 1%. Nifty was down at 24,450 amid selling pressure across the sectors.
At close, the Sensex was down 1,097 points or 1.37% at 78,918.90, and the Nifty was down 315.45 points or 1.27% at 24,450.45.
Broader indices outperformed with Nifty Midcap index falling 0.7%, and Smallcap index down 0.2%.
The overall market capitalisation of BSE-listed firms slipped to Rs 450 lakh crore from Rs 453 lakh crore in the previous session.
Among the sectors, most of the indices ended on a mixed note. On the declining side were Auto, realty, PSU Bank, and private bank indices falling 1-2%. Defence index surged nearly 3%, while Capital Goods index rose 1.3% and Power index gained 0.4%.
On Nifty, the key gainers were Bharat Electronics, Reliance Industries, NTPC, ONGC, and Sun Pharma among others. ICICI Bank, Eternal, Shriram Finance, Axis Bank, and UltraTech Cement were the top losers.
Over 250 stocks touched their 52-week low including Cohance Lifesciences , Sonata Software, Procter and Gamble Hygiene and Health Care, Berger Paints, Alkyl Amines, Cyient, among others.
Most of the real estate stocks were on the losing end. Among the key names, Godrej Properties dropped 3.8%, Raymond Realty declined nearly 3%, Prestige Estates fell 2.7%, Lodha Developers slipped around 2%.
Among the rail stocks, IRCON traded over 11% higher in the early trade, while those of RVNL climbed 3.17%. RailTel, RITES, IRFC traded 4.2%, 3.5% and 1.5% higher, respectively.