Market Update: Sensex ends 59 points down as selling continues for 2nd day

Markets on Friday gave up initial gains with Sensex falling about 59 points to end at 27,026.70 and Nifty dipping over 9 points to close at 8,086.85 on profit selling in financial and auto stocks, amid weak global cues.

Losses were seen mainly in counters including HDFC, ICICI Bank, Tata Motors , Hero MotoCorp, Bharti Airtel, Coal India, BHEL and Tata Power, which weighed on the market.

Although Sensex ended in the negative zone, total market breadth was positive on the back of rally in second-line stocks on buying by retail investors. The S&P BSE Small-cap and Mid-cap indices outperformed the Sensex. They closed up by 1.25 per cent and 0.56 per cent respectively.

The 30-share Sensex resumed better and improved further to a high of 27,178.80, up by nearly 93 points, on the back of heavy buying by foreign funds. However, profit-selling erased the gains and the index ended at 27,026.70 - a fall of 59.23 points or 0.22 per cent. It touched an intra-day low of 26,920.56.

on Thursday, it has dipped 54.10 points or 0.20 per cent.

On Wednesday, it had zoomed to life high of 27,225.85 and then closed at record peak of 27,139.94.

For the week, the Sensex rose 388.59 points. This was its fourth straight weekly gain.

The wide-based 50-issue CNX Nifty of the NSE on Friday moved irregularly in a range of 8,122.70 and 8,049.85 before closing at 8,086.85 - a drop of 9.10 points or 0.11 per cent.

Meanwhile, provisional data showed Foreign Portfolio Investors invested a whopping Rs 1,697.74 crore on Thursday.

Globally, Asian shares slipped Friday after European Central Bank unveiled fresh measures. Eyes are now on the release of US jobs data later on Friday, which could have a bearing on Fed policy.

Europe's main stock markets dipped in late morning trades today after data showed the 18-nation eurozone economy stagnated in the second quarter with zero growth.