Markets retreat from peaks on profit-booking

Mumbai: Benchmark indices Sensex and Nifty on Friday retreated from record highs as investors scrambled to book profits in recent high-flying stocks amid fears that India's second quarter GDP numbers may slip further.

The 30-share BSE gauge plummeted 336.36 points or 0.82 per cent to close at 40,793.81. The index swung about 466 points during the day.

Likewise, the broader NSE Nifty also settled 95.10 points or 0.78 per cent down at 12,056.05. On a weekly basis, the Sensex advanced 434.40 points or 1.07 per cent; while the Nifty rose 141.65 points or 1.18 per cent.

Investor sentiment during the week was mainly driven by positive news about US-China trade talks progress and continuation of measures by the government to boost consumer demand and economic growth.

The GDP data for the July-September period will be released after market hours on Friday.

Sectorally, BSE energy, metal, auto, oil and gas, capital goods and FMCG indices fell up to 1.46 per cent. While BSE telecom, realty, utilities and power indices rose up to 2.54 per cent.

Broader BSE midcap and smallcap indices rose up to 0.47 per cent. Investors turned cautious ahead of Q2 gross domestic product (GDP) growth data, as many economists feel that growth numbers will further weaken from the 5 per cent in Q1.

Weak cues from global markets also weighed on market mood, they added.

FPIs bought equities worth $1.5 billion over the past five trading sessions while DIIs bought $192 million worth of equities in the same period.

On the currency front, the rupee depreciated 12 paise against the US dollar. Brent crude, the global oil benchmark, fell 0.79 per cent to $62.77 per barrel in futures trade.