Sensex snaps 6-day winning streak, Nifty ends below 23,550 on profit booking

The BSE benchmark 30-share Sensex snapped its six-day winning streak on Friday and Nifty 50 index settled below its important psychological level of 23,600 as investors resorted to profit booking after markets surged to record highs amid weak global cues, analysts said. The Sensex fell as much as 677 points and Nifty 50 index touched an intraday low of 23,398.20 after hitting record high of 23,667.10 earlier in the session.

The Sensex ended 269 points lower to close at 77,210 and Nifty 50 index declined 66 points to settle at 23,501.

European shares fell on Friday, as technology and bank stocks came under pressure, while Danish brewer Carlsberg Group slumped after British soft drinks maker Britvic rejected its $3.9 billion revised takeover proposal.

The pan-European STOXX 600 was down 0.3 per cent with the technology sub-index .SX8P losing around 1 per cent and euro zone banks slipping 1.3 per cent.

In Asia, Japan's Nikkei fell 0.07 per cent, Hong Kong's Hang Seng declined 1.53 per cent and China's Shanghai Composite dropped 0.24 per cent.

Back home, selling pressure was broad based as nine of 13 major sector gauges compiled by the National Stock Exchange ended lower led by the Nifty PSU Bank index's 1.2 per cent fall. Recently outperforming oil & gas, realty, FMCG, auto and banking shares also faced selling pressure as investors booked profits.

Mid- and small-cap shares also faced selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indexes dropped 0.2 per cent each.