The Indian stock markets declined on Friday (June 13), stretching its weekly loss to the fourth straight week, after inflation climbed to 8.75% for the week ended May 31, raising speculation that the central bank might take more action.

After opening with a positive gap of 77 points, the BSE Sensex was not able to hang on to the gains, and traded in a lackluster manner during the day.

JP Associates, DLF and HDFC Bank led the declines. Metal and real estate stocks declined, while the fertilizer pack gained. 

The Sensex also touched an intraday low of 15,135.81 during the day.

However, it managed to close above its intraday low at 15,189.62, down 60.58 points, or 0.4%, whereas the broad-based NSE Nifty ended the week at 4,517.10, down 0.49%,.

BSE Midcap and Smallcap Index climbed 0.08% and 0.74% respectively.

Other Asian counterparts closed mixed on Friday (June 13) with Nikkei gaining 0.61%, whereas Hang Seng declined 1.87% and Shanghai Composite settling 1.30% lower.

The overall market breadth was mixed as it experienced 1,445 progressions as against 1,156 declinations.

Among sectoral indices, BSE Metal and Realty index fell more than 2% each, whilst BSE CD index zoomed 1.74%, BSE HC ascended 1.19%, BSE Bankex surged 0.26% and BSE CG was up 0.25%.

The top gainers at the BSE Sensex included Ranbaxy (4.31%), ICICI Bank (3.03%) and BHEL (2.79%), TCS, Tata Motors, ONGC and RCom.

The major losers’ at the BSE Sensex were JP Associates (4.03%), DLF (3.61%) and HDFC Bank (3.45%). Cipla, HUL, Reliance Infra and Maruti Suzuki declined about 2% each.

Reliance Capital (Rs 2.69 billion) topped the value chart, followed by Anu’s Labs (Rs 2.61 billion) and Chambal Fertilisers (Rs 2.48 billion). RPL (Rs 2.46 billion) and RIL (Rs 2.20 billion) also witnessed good turnover.

Chambal Fertilisers (28.09 million) topped the volume chart, followed by Nagarjuna Fertilisers (17.81 million) and RPL (13.71 million). RNRL (12.96 million) and IFCI (12.60 million) also made it to the top volumes chart.