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The benchmark BSE index fell over 80 points at the closing session as private lenders retreated after the central bank's stress tests showed a significant jump in bad loans for the sector, but the indexes still posted a second consecutive week of gains.
The Reserve Bank of India had said late on Thursday that the ability of debt-burdened firms to repay their debts has worsened as leverage has increased, straining a banking sector burdened by bad loans.
Sentiment was also hit after Greece failed again to reach an agreement with its creditors and stumbled towards a default, while Chinese shares plunged more than 7 per cent as retail investors sold heavily.
But domestic shares continued their rebound after hitting their lowest levels this year earlier this month.
The 30-share BSE index Sensex ended lower by 84.13 points or 0.3 per cent at 27,811.84 and the 50-share NSE index Nifty fell 16.9 points or 0.2 per cent to 8,381.10.
Nifty begins falling after correcting 38.2% of the prev. fall. The power Fibonacci numbers have over stock markets is amazing
— lokeshwarri sk (@lokeshwarri)
June 26, 2015Among BSE sectoral indices, capital goods index fell the most by 1.11 per cent, followed by metal 0.91 per cent, oil & gas 0.84 per cent and infrastructure 0.8 per cent. On the other hand, consumer durables index was up 1.6 per cent, followed by IT 1.36 per cent, realty 0.94 per cent and TECk 0.73 per cent.
Top five Sensex gainers were TCS (+1.66%), NTPC (+1.55%), Infosys (+1.51%), Bajaj Auto (+1.35%) and Cipla (+1.34%),while the major losers were GAIL (-3.19%), VEDL (-2.7%), Bharti Airtel (-2.32%), BHEL (-2.15%) and HDFC (-1.57%).
Global markets
European stocks fell, with investors discouraged by a lack of progress in Greek debt crisis negotiations heading into crunch talks at the weekend.
The pan-European FTSEurofirst 300 index was down 0.7 per cent at 1,562.40 points by 0706 GMT.
Asian equities fell on Friday as Greece failed again to reach an agreement with its creditors and stumbled towards a default, while major currencies like the euro and dollar drifted as the debt saga sidelined investors.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent.
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