Profit-sellers chased away the bulls that dominated trading in the last two sessions, as a result of which the Bombay Stock Exchange benchmark, Sensex, on Friday declined marginally by 37.49 points to end at 12,236.78.
Positive factors like aggressive buying by foreign funds and fall in inflation failed to boost the market sentiment as market players were busy booking profit, brokers said.
A general weekend fatigue was seen in the market as bulls took a respite on Friday after last two days of smart gains when the BSE index garnered nearly 304 points, they added.
A fall in index-based shares like SBI, ONGC, Tata Motors, Tata Steel, Maruti, TCS, Infosys Tech, ICICI Bank, HDFC Bank, L&T, Dr Reddy, ITC, HLL and Dr Reddy, weighed negatively on the market while smart rally in RIL, Grasim, ACC, Bajaj Auto and Bharti Airtel cushioned the Sensex fall to some extent.
The BSE-30 share sensitive index opened low at 12,244.41 as against Thursday's close of 12,274.27 and moved in a range of 12,303.42 and 12,170.20 before closing at 12,236.78, a net loss of 0.31 per cent.
Similarly, the National Stock Exchange's (NSE) S&P CNX Nifty declined by 9.00 points or 0.25 per cent to 3,544.05 from previous close of 3,553.05.
On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index on Thursday dipped by 79.96 points and 15.14 points, respectively. Most of the Asian markets also ended in the red on weekend profit-selling.
Foreign institutional investors (FIIs) reportedly bought shares worth Rs 1,007.70 crore on the first three days of the week and injected Rs 235.38 crore on Thursday alone as per provisional data.
A fall in inflation rate to 4.61 per cent for the week ended September 9 from 4.78 per cent in the previous week and lower world crude oil prices near $62 a barrel, could not able to prop up the sentiment further.
1,587 out of total 2,572 traded counters finished with losses while 910 others ended with gains.
The trading volume was low at Rs 3,140.24 crore from Rs 3,453.94 crore on Thursday. RIL clocked the highest turnover of Rs 227.09 crore followed by India Bulls (Rs 138.98 crore), Bharti Airtel (Rs 127.80 crore), Voltamp Trans (Rs 107.86 crore) and Sterling Biotec (Rs 88.38 crore).
The broad-based BSE-100 Index eased by 17.26 points to 6,207.63 from Thursday's close of 6,224.89.
The BSE-200 Index and the Dollex-200 were quoted lower at 1,464.06 and 530.52 at close compared to previous close of 1,468.53 and 533.30, respectively. The BSE-500 Index moved down by 15.16 points to 4,637.94 from 4,653.10 and the Dollex-30 closed moderately lower at 2,186.61 from 2,198.09 previously.
SBI dipped by 8.00 to 975.35, ICICI Bk by 9.00 to 655.05, HDFC Bank by 8.00 to 875.30, Tata Motors by 12.45 to 835.45, Maruti by 7.40 to 937.15, Satyam Computer by 21.85 to 837.75, TCS by 10.15 to 1042.45, Infosys Tech by 4.70 to 1830.10, Dr Reddy by 7.75 to 748.75, ITC by 2.95 to 187.70.
However, RIL rose by 16.95 to 1155.20, Grasim by 48.60 to 2518.75, ACC by 11.60 to 980.20, Bajaj Aut by 23.20 to 2918.75 Bharti Airtel by 3.70 to 469.25, Rel Com by 3.60 to 347.15 and GACL by 1.50 to 117.45.