Benchmark indices Sensex and Nifty closed marginally down in volatile trade on Friday following profit booking in financials and IT shares amid a weak trend in global equity markets.
Snapping its two-day gaining streak, the 30-share BSE Sensex declined 30.81 points or 0.05 per cent to settle at 58,191.29. During the day, it fell 370.95 points or 0.63 per cent to 57,851.15 but later pared most of the losses.
The broader NSE Nifty dipped 17.15 points or 0.10 per cent to end at 17,314.65 as 32 of its stocks declined.
"Prior to the release of the US jobs data, the domestic market traded with cuts in line with its global counterparts. Stronger-than-anticipated job data may lead to a market decline as it could give the Fed more reasons to focus on inflation," Vinod Nair, Head of Research at Geojit Financial Services said.
Following OPEC+'s announcement of supply reductions, crude prices have continued to rise, while the rupee has dropped to a fresh low as a result of hawkish remarks from Fed officials, Nair added.
Among Sensex shares, Mahindra & Mahindra fell the most by 1.37 per cent. UltraTech Cement declined 1.3 per cent, State Bank of India by 1.28 per cent, Tata Consultancy Services by 1.28 per cent, Bajaj Finance by 0.79 per cent and ITC by 0.77 per cent.
Titan bucked the trend and rose the most by 5.27 per cent. Power Grid, NTPC, IndusInd Bank, Maruti, HDFC and Reliance Industries also advanced, helping the index cut losses.
"Markets took a pause after the recent rebound and ended almost unchanged, in absence of any major trigger," said Ajit Mishra, VP - Research, Religare Broking Ltd.
Global markets, especially the US, are still not offering indications for a sustained recovery so volatility is here to stay and participants should plan overnight positions accordingly, he added.
In the broader market, the BSE smallcap gauge ended 0.30 per cent higher and midcap index fell by 0.15 per cent.
Among the BSE sectoral indices, oil & gas fell by 0.78 per cent, energy (0.72 per cent), metal (0.63 per cent), IT (0.57 per cent) and FMCG (0.52 per cent).
However, consumer durables jumped 2.13 per cent, telecommunication (0.91 per cent), industrials (0.52 per cent) and capital goods (0.35 per cent).
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.
Stock exchanges in Europe were trading on a mixed note in mid-session deals. The US markets ended lower on Thursday.
Meanwhile, the international oil benchmark Brent crude futures climbed 0.48 per cent to USD 94.87 per barrel.
Foreign institutional investors were net buyers as they bought shares worth Rs 279.01 crore on Thursday, according to data available with BSE.
