The Indian benchmark indices, Sensex and Nifty erased the day's gains to end lower Thursday afternoon dragged by selling in FMCG, IT and pharma stocks. The Sensex ended 80.74 points or 0.17 percent lower at 48,093.32 while the Nifty eased 8.90 points or 0.06 percent to close at 14,137.35.

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Broader indices, Nifty Smallcap100 and Nifty Midap100 outperformed the benchmarks, ending over 1 percent higher each. Buying was seen in metals, realty, PSU Banks and financial stocks.

Titan was the top loser in the Sensex pack, shedding around 2 percent, followed by Nestle India, HUL, HCL Tech, Infosys, ITC and Kotak Bank. On the other hand, Bharti Airtel, IndusInd Bank, Axis Bank, Bajaj Finserv and L&T were among the gainers.

”After the US Democrats won the Georgia Senate, global cues were positive in morning trade. Afternoon trade, however, saw profit-taking in FMCG stocks despite which we saw a close above 48K led by financials and metals,” said S Ranganathan, Head of Research at LKP Securities. Elsewhere in Asia, bourses in Shanghai, Tokyo and Seoul ended on a positive note, while Hong Kong was in the red.

Stock exchanges in Europe were largely trading with gains in early deals. Meanwhile, the global oil benchmark Brent crude was trading 0.02 percent lower at $54.29 per barrel.

(With inputs from PTI)

First Published:Jan 7, 2021 3:35 PM IST