The market witnessed some profit booking after the recent gains. Both Sensex and Nifty ended lower amidst weakness in global stock markets. The Sensex shed 115 points, or 0.33 per cent, to close at 34,501 while the Nifty-50 fell 43.80 points, or 0.41 per cent, to settle at 10,570.55. According to analysts investors are concerned about the recent firmness in crude oil prices.

The market breadth was weak as 1,750 shares fell and 898 shares rose on the BSE. The BSE Mid-Cap and Small-Cap indices fell 0.52 per cent  and 0.72 per cent, respectively, underperforming the Sensex.

Among the sectoral indices on the BSE, IT was up 1.24 per cent and Metal was down 1.43 per cent. Oil & Gas (-1.33 per cent) and Capital Goods (-1.2 per cent) also more than 1 per cent.

Technical view

Chandan Taparia, derivatives and technical analyst, Motilal Oswal Securities, said: “The options band suggests an immediate trading range in between 10,500 and 10,666 zones. The Nifty formed a Bearish Candle on the daily scale, which implies that selling is visible at higher levels.

“The Nifty has to hold above the 10,520 zones to extend its move towards 10,630 and then 10,666 zones while on a decline, the next major support exists at 10,500-10,480 zones.”

Market view

Anand James, chief market strategist, Geojit Financial Services, said: “Global volatility led by high bond yields in the US attracted some profit booking in the domestic market, a day prior to the F&O expiry. The rupee hitting a 14-month low against the backdrop of persistent selling by the FIIs and the rollover numbers languishing at an eight-month low figure added to the weakness in the indices. But, healthier Q4 earnings numbers, continuing buying interest seen in the IT sector and marginal easing in oil prices guarded the key support levels in the benchmark indices.

—Ashwin Punnen