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Benchmark indices closed in the red on Thursday amid profit booking.
Market, which opened on a weak note on global cues, recovered slightly in the afternoon session. Indices traded lower during the closing hours, dragged by metals and financials.
A slight hawkish stance from the Federal Open Market Committee (FOMC) and inflation concerns weighed on investor sentiments.
The BSE Sensex closed at 52,323.33, down 178.65 points or 0.34 per cent.it hit an intraday high of 52,523.88 and a low of 52,040.51.
Nifty 50 closed at 15,691.40, down 76.15 points or 0.48 per cent. It hit an intraday high of 15,769.35 and a low of 15,616.75.
The breadth of the market turned in favour of the decliners with 1,822 stocks declining, 1,383 advancing and 155 remaining unchanged on the BSE. As many as 488 securities hit the upper circuit and 210 the lower circuit; 460 hit their 52-week high while 20 touched a 52-week low.
Vinod Nair, Head of Research at Geojit Financial Services, said, "Indian equities traded mirroring global peers after the optimistic comments by Fed acknowledging the strengthening of the economy. The rate hike has been advanced by a year to 2023 but is not the key point of issue to the market. While the fast normalisation of the economy and strong job market can lead to a taper in bond-buying plan. This can lead to tightening of bonds yields which will impact the pricing of equity asset."
Ultratech Cement, TCS, Infosys, Asian Paints and Tech Mahindra were the top gainers on the Nifty 50 while Adani Ports, IndusInd Bank, Hindalco, Eicher Motors and NTPC were the top laggards.
IT stocks shine
On the sectoral front, all indices except Nifty IT and Nifty FMCG closed in the red.
IT stocks extend gains in the second half. Meanwhile metals, auto and financials lagged.
Nifty IT was up 0.57 per cent while Nifty FMCG was up 0.14 per cent.
Nifty Metal was down 2.32 per cent. Nifty Bank was down 1.14 per cent while Nifty Financial Services was down 1.01 per cent. Nifty Private Bank and Nifty PSU Bank were down 1.18 per cent and 1.42 per cent, respectively.
Nifty Auto ended 1.37 per cent lower.
Broader indices
All broader indices also closed in the red. Nifty Midcap 50 was down 1.41 per cent at closing while Nifty Smallcap 50 was down 0.30 per cent.
The S&P BSE Midcap was down 1.29 per cent while the S&P BSE Smallcap was down 0.58 per cent.
The volatility index rose 2.84 per cent to 15.29.
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