Indices’ losing run continues amid selling pressure

Equity indices buckled under selling pressure for the second straight session on Friday as risk appetite remained subdued amid lacklustre global cues and lower-than-expected results from IT major TCS.

Banking, finance and IT counters accounted for most of the losses, while strong demand for metal stocks cushioned the fall.

The Sensex ended 182.75 points or 0.35 per cent lower at 52,386.19. The broader Nifty dropped 38.10 points or 0.24 per cent to close at 15,689.80.

Bajaj Auto was the top laggard on the Sensex chart, shedding 1.99 per cent, followed by TCS which dropped 1.52 per cent post its results. The country's largest IT firm had on Thursday reported a 28.5 per cent jump in June quarter net profit at Rs 9,008 crore, but called out the domestic business as a drag which restricted its overall growth.

HDFC Bank, Axis Bank, Reliance Industries, Tech Mahindra, Kotak Bank and Indusind Bank were among the other losers.

On the other hand, Tata Steel led the gainers' list with a jump of 4.16 per cent, followed by Bajaj Finserv, Bharti Airtel, NTPC, Maruti and Bajaj Finance.