Mumbai: In a volatile trade, the benchmark BSE Sensex snapped its last 3-week gaining streak, ending lower 129 points at 27,828.44 due to selling pressure in view of May futures and options expiry and ahead of RBI's policy meet next week.
The Nifty, too, fell 25.30 points, or 0.30 percent, to settle at 8,433.65.
Trading for the week began on a negative note. Telecom, cement and pharma stocks led the rally as key benchmark indices surged on the last trading session of the week.
Veracity Group CEO Pramit Brahmbhatt said, "This week, local equities traded between gains and losses. To start the week, it was in a bearish mode and traded low for the three days."
Price-sensitive shares turned weak on fears of an earlier-than-expected US rate hike as Federal Reserve Chair Janet Yellen recently indicated that the US central bank may raise interest rates this year if economy improves as expected.
Also, lower-than-expected earnings from some large caps came as a spoiler.
However, the indices recovered almost all the losses at the end the week as blue-chips gained on value-buying and short-covering and closed near their previous close on a slightly weaker note.
Meanwhile, Foreign Portfolio Investors net bought shares worth Rs 2,106.98 crore during the week, according to provisional data.
Among the 30 Sensex shares, 16 declined. Shares of IT, metal, realty, healthcare and auto sectors declined on selling pressure while consumer durable, PSU, oil&gas and banking sectors firmed up on buying enquiries.
The Sensex resumed lower at 27,893.25 and hovered in a wide range of 27,903.29 and 27,354.35 before concluding the week at 27,828.44, disclosing a loss of 129.06 points or 0.46 percent.
The index gained 946.19 points or 3.50 percent in the previous three weeks.
Tata Motors was the top Sensex loser last week. The stock fell 6.40 percent to Rs 481.60 after the company reported weak fourth quarter results.
Hindalco fell 5.83 percent to Rs 129.15 after the company reported weak Q4 results during the week.
However, Bharti Airtel was top the Sensex gainer with a rise of 7.66 percent to Rs 425.30 as British telecom giant Vodafone Group reportedly sold its 4.2 percent stake in the firm.
BHEL rose by 7.54 percent to Rs 251.60 after the company reported strong results on sequential basis in Q4 March.
Among the indices, IT fell by 1.51 percent followed by metal 1.34 percent, realty 1.28 percent and healthcare 1.07 percent while, consumer durables rose by 2.54 percent, oil&gas 1.54 percent and bankex 1.51 percent.
Small-cap and mid-cap indices also rose by 0.65 percent and 0.91 percent, respectively on fresh buying.
The total turnover during the week on the BSE fell to Rs 13,,512.28 crore from Rs 16,150.27 crore last week, while on NSE, it rose to Rs 1,10,289.59 crore from Rs 79,727.06 crore.
