Taking a cue from weak global trend, the stock market on Friday cut short a seven-day gaining streak with both BSE Sensex and NSE Nifty ending sharply lower as investors booked profits on the weekend.
After crossing 14,000 mark during initial trading, the Bombay Stock Exchange 30-share sensitive index moved downwards to the day's low of 13,756.86.
It later ended at 13,799.49, a net fall of 172.54 points or 1.23 per cent from Thursday's close of 13,972.03.
The slide, which was seen as a necessary correction after the bull phase, has been attributed to FII pull out in both cash and derivatives on December 7 as well as profit booking by retail investors at the weekend.
The broader S&P CNX Nifty of the National Stock Exchange dropped 53.35 points or 1.33 per cent to 3,962 from its previous close of 4,015.35 points.
Foreign Institutional Investors (FIIs) withdrew Rs 153 crore in the cash (provisional) and Rs 281 crore in Futures and Options (F&O) segments on Thursday.
Retail investors and operators squared up positions by booking profits at the last day of the week, brokers said.
Refinery stocks were at the receiving end. RIL, ONGC, Indian Oil, HPCL, BPCL, GAIL and Aban Offshore registered sharp falls, pulling the BSE Oil&Gas Index by 137.91 points or 2.21 per cent to 6,095.46 from 6,233.37.
In Asia, Hong Kong's Hang Seng ended down by 103 points, Japan's Nikkei by 55.54 points, Singapore's Straight Times by 36.66 points, Taiwan's Weighted Index by 50.22 points and South Korea's Kospi by 19.87 points.
In the week ended November 25, inflation declined to 5.30 per cent from 5.45 per cent in the previous week.
The market breadth was highly negative with 1,518 losers against 1,016 gainers in the total 2,655 traded shares.
The trading volume was relatively high at Rs 4,147.94 crore compared to Rs 3,824 crore on Thursday. Reliance Comm clocked the highest turnover of Rs 160.36 crore followed by HDFC (Rs 149.40 crore), RIL (Rs 143.88 crore), I-Flex (Rs 139.37 crore) and Parsvnath (Rs 110.51 crore).
The broad-based BSE-100 Index tumbled by 81.40 points to 6,985.15 from previous close of 7,066.55.
The BSE-200 Index and the Dollex-200 were quoted sharply down at 1,655.52 and 616.47 at close compared to last close of 1,673.44 and 624.51 respectively. The BSE-500 Index fell by 54.41 points to 5,260.52 from previous close of 5,314.93 and the Dollex-30 ended lower at 2,533.97 from 2,571.26.
RIL dipped by 32.95 to 1267.80, ONGC by 20.75 to 840.55, Tata Steel by 9.10 to 482.40, Hindalco by 3.80 to 179.60, HLL by 6.55 to 233.80, Infosys Tech by 24.85 to 2197.25, TCS by 16.70 to 1176.15, Satyam Computer by 9.85 to 456.70, Wipro by 7.80 to 577.05, Maruti by 12.95 to 932.40, Tata Motors by 25.40 to 866.80, Bajaj Auto by 54.85 to 2649.20, Hero Honda by 6.10 to 743.75, ACC by 28.15 to 1105.25, Bharti Airtel by 5.05 to 633.20, BHEL by 13.30 to 2636.00, HDFC by 15.50 to 1550.05, HDFC Bank by 16.60 to 1085.05, L&T by 18.45 to 1451.55 and Rel Com by 9.00 to 447.30.
However, SBI rose by 7.30 to 1353.50, REL by 13.10 to 555.05, Dr Reddy's Lab by 17.65 to 775.30 and Grasim by 9.75 to 2758.05.