The losses on Dalal Street were led by buying in pharma stocks.Domestic stock markets started Friday's session on a positive note but soon turned negative tracking heavy selling on pharma and banking banking counters amid weakening rupee.
The SP BSE Sensex declined as much as 84.38points to touch 36,289.70, while Nifty50 barometer of National Stock Exchange fellby 29.3points to 10,875.90.
Heavyweights Sun Pharma, Hindustan Unilver, HDFC and HDFC Bank contributed most to losses on Sensex.At 9:31 am, 30-share benchmark index traded 44.99 points or 0.12 per cent lower at 36,329.09, and Nifty was at 10,898.30, down 6.90points or 0.06 per cent from previous close.Top laggardson 50-scrip index were Sun Pharma, Yes Bank, GAIL, Ultracemco and Bharti Airtel, trading between 0.87 and 10.13 per cent lower.According to analysts, global trade tensions and risk of recession will cast cloud over investors' sentiment; while lack of major triggers in domestic market could steer a range bound movement in near term.
Asian stocks, on other hand, gained early on Friday, as hopes for a thaw in US-China trade conflict fed investor appetites for risk assets.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25 per cent.
The index has gained nearly 1 per cent this week.The rupee, meanwhile, depreciated 18 paise against dollar to 71.21 on Friday.
On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to tune of Rs 727.46 crore, provisional data available with BSE showed.
(With inputs from agencies)