Mumbai: Benchmark equity indices Sensex and Nifty snapped their four-session winning streak to close lower on Wednesday as traders booked gains, in sync with the world markets which saw lackluster trade, ahead of the crucial signing of the US-China Phase I deal.The market also took cues from the first set of corporate earnings numbers that have trickled in, and the focus shifted to the upcoming Union Budget.The 30-share Sensex closed 0.19 per cent or 80 points lower at 41,873, while the 50-share Nifty dropped 0.15 per cent or 19 points to settle at 12,343.Even as the market closed lower, the breadth was positive with gainers outpacing losers in the ratio of 3:2 on BSE.Market at a glance:In the Sensex kitty of stocks, 14 of 30 stocks closed higher.
Financials contributed the most to the benchmarks decline.
IndusInd Bank was the biggest loser, shedding 5.49 per cent after the private lender missed Street estimates when it posted December quarter numbers.Infosys, SBI, Power Grid and Tech Mahindra were among other losers.
Meanwhile, Hero MotoCorp with a rise of 2.58 per cent was the biggest gainer, followed by Titan, Maruti Suzuki, Asian Paints and M-M.The broader market logged gains with the BSE 500 index advancing 0.15 per cent.
BSE Midcap and Smallcap indices outperformed smartly, as they gained 0.67 per cent and 1.06 per cent, respectively.Shares of Wipro fell 3.50 per cent after the IT firms December quarter results failed to meet analysts estimates.Realty stocks advanced on hopes of sops in the upcoming Union Budget.
The sectoral index was the top gainer and rose 1.34 per cent.
Prestige Estate Projects and Indiabulls Real Estate rose 5.74 per cent and 4.99 per cent, respectively.Shares of YES Bank rose 3.11 per cent after the bank informed stock exchanges that efforts were being made to financially strengthen the bank and that the lenders' capital adequacy ratio is comfortably above the regulatory requirement.City gas distributor Mahanagar Gas jumped 8.56 per cent after Credit Suisse initiated coverage on the stock with a buy call and target of Rs 1,280.Analysts views:"After the solid pre-Budget rally, the market is getting a bit skeptical following higher than expected NPA numbers in the recent Q3 banks results and very high consumer inflation which may stay for another month or two.
Market would watch the Q3 results - actual Budget, for further direction.- Vinod Nair, head of research, Geojit Financial ServicesGlobal markets:Asian stocks slipped while European shares traded flat on Wednesday as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by comments from the US Treasury Secretary that tariffs would remain in place, for now, Reuters reported.MSCIs broadest index of Asia-Pacific shares outside Japan fell 0.48 per cent, retreating from its 19-month peak marked on Tuesday.The pan-European STOXX 600 index rose 0.04 per cent by 0805 GMT.