Equity benchmark indices extended early losses to close one per cent lower on Friday amid broad-based selling as traders booked profit.
The BSE S&P Sensex wound up the day 549 points or 1.11 per cent lower at 49,035 while the Nifty 50 slipped by 162 points or 1.11 per cent to 14,434.
All sectoral indices at the National Stock Exchange were in the red with Nifty IT and PSU bank down by 2.1 per cent, realty by 1.8 per cent, pharma by 1.6 per cent and metal by 1.1 per cent.
Among stocks, IT majors had a tough day with Tech Mahindra dropping by 3.9 per cent to Rs 1,011 per share while HCL Technologies cracked by 3.7 per cent and Wipro by 3.6 per cent.
The other losers were energy majors like GAIL, ONGC, Bharat Petroleum Corporation and Coal India. Hindalco, Asian Paints and UltraTech Cements too traded over 2 per cent lower.
However, Tata Motors gained by 6.6 per cent to Rs 261.40 per share. Bharti Airtel, UPL, ITC, Bajaj Auto and Tata Steel also traded with a positive bias.
Meanwhile, Asian shares were volatile after US President-elect Joe Biden proposed a 1.9 trillion dollar stimulus plan to jump-start the world's largest economy and accelerate its response to Covid-19.
Hong Kong's Hang Seng added 0.27 per cent but Japan's Nikkei was down by 0.62 per cent after touching three-decade highs in the previous session.
( With inputs from ANI )
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