Equity benchmarks on Friday pared their early gains and registered losses for the third day amid a weak trend in IT counters.
The 30-share BSE Sensex closed at 59,900.37, down 452.90 points or 0.75%. During the day, it closed at 59,669.91, down 683.36 points or 1.13%.
The broader NSE Nifty closed 132.70 points, or 0.74%, down at 17,859.45.
From the Sensex pack, Tata Consultancy Services, Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Infosys and Tata Motors were the major laggards.
Mahindra & Mahindra, Reliance Industries, Nestle, ITC and Larsen & Toubro were the winners.
Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai ended in the green, while Hong Kong ended lower.
Equity exchanges in Europe were trading on a mixed note in mid-session deals. Markets in the US closed down on Thursday.
“Indian equity markets have started the new year on a slightly cautious note, continuing the trend seen in December 2022, in line with global markets. However, expectations of further rate softening by global central banks from here remain firm , But concerns remain. The overall economic environment amid high interest rates and sticky core inflation, Milind Muchhala, executive director, Julius Baer India, said.
International oil benchmark Brent crude climbed 0.15% to $78.81 a barrel.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1,449.45 crore on Thursday, according to exchange data.