Indian stocks markets pared earlier gains and ended lower for a straight eighth session on Friday, with the Nifty falling below 5700 level, weighed down by weakness in power, realty, metal and PSU sector shares.
The benchmark BSE Sensex declined 0.79 percent, or 153.17 points, to 19,164.02. The 50 share NSE Nifty fell 0.86 percent, or 49.40 points, to 5,678.45.
Markets opened on a high note, tracking positive cues from Asian peers. Markets later turned volatile and ended with losses for a straight eighth session, longest losing streak in more than four months, as metal, power and realty sector shares experienced heavy selling pressure.
Among the 13 BSE sectoral indices, metal sector plunged 3.65 percent and power sector slumped 3.77 percent while realty sector tumbled 4.01 percent and consumer durables climbed 5.38 percent.
Power Grid Corp. tumbled 11.61 percent and ADANI Power slumped 6.43 percent while DLF plunged 6.82 percent and Unitech slipped 4.40 percent.
In the Midcap space, Financial Tech tumbled 22.40 percent and Syndicate Bank plunged 9.24 percent while Indian Bank declined 6.62 percent.
The overall market breadth is negative with 1487 declines against 777 advanced on the BSE.
Meanwhile, Asian stocks markets advanced on Friday as investor sentiment was buoyed following upbeat US and European economic data and central banks pledge to continue stimulus efforts for an extended period.
Japan's benchmark Nikkei 225 surged 3.29 percent and Hong Kong's Hang Seng gained 0.46 percent, while China's Shanghai Composite advanced 0.02 percent and South Korea's KOSPI rose 0.14 percent.
Data released by the Institute for Supply Management (ISM) on Thursday showed that US factory activity rose to its highest level since June 2011 last month. The data came on the same day after an official report showed that Chinese manufacturing activity unexpectedly strengthened last month, indicating some stabilization in the global recovery trend, particularly in the U.S. and China
