Nifty, Sensex snap winning streak; financials drag

Reuters
Bengaluru, Karnataka, India Published: Dec 20, 2018, 05:13 PM(IST)

Bombay Stock Exchange Photograph:( Zee News Network )

Story highlights

The BSE Sensex closed down 0.14 per cent at 36,431.67, while Nifty ended 0.14 per cent lower at 10,951.7.

Indian shares pared early losses to end lower on Thursday, as investors locked in profit following seven sessions of gains.

The BSE Sensex closed down 0.14 per cent at 36,431.67, while Nifty ended 0.14 per cent lower at 10,951.7.

The rupee and stocks weakened early on Thursday, tracking Asian peers after the US Federal Reserve gave a 2019 rate outlook that traders called "less dovish" than they expected.

Earlier in the day, the broader NSE index fell up to 0.80 per cent, while the benchmark BSE index dropped as much as 0.77 per cent. 

"There has been some profit-booking, but there are multiple positive factors and the fundamentals are strong," said Vinod Nair, head of research, Geojit Financial Services. 

Financial stocks were the biggest drag on both indexes, with State Bank of India closing 2.2 per cent lower and Axis Bank Ltd ending 1.4 per cent weaker.

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