Closing Bell: Nifty slips below 16,600 , Sensex declines marginally to end in red; auto declines most

The Indian market ended with cuts of nearly half per cent after trading positively in most part of the session on Friday. Ahead of the scheduled Reserve Bank of India (RBI) Monetary Panel Committee (MPC) meeting between June 6-June 8, the benchmarks Nifty50 and the Sensex ended marginally lower by 0.2% and 0.09 % respectively.  

The broader Nifty50 closed near16,600, while the Sensex marginally dropped to end near 55,800 

In the broader market, Nifty midcap and small cap declined around 1.5% and 0.7% respectively.  

Sectorally, Auto, PSU Bank and consumer Durables declined the most amid high volatility as IT and energy stocks drew some buying interest in the closing hours.  

Reliance Industries led the benchmarks for the second day in a row ending higher by nearly two per cent on Friday. Infosys, L&T, HCL Tech, Sun Pharma, Wipro and TCS were other notable gainers.  

Grasim was top loser on Nifty50, while Ultratech dragged the Sensex pack. Maruti, NTCP, Bajaj Finserv, Shree Cements, Hero MotoCorp were other top losers on the two indices.