Indian equities pared their gains, on Friday (July 25), because of renewed worries that credit market losses will expand and a decelerating worldwide economic system will diminish earnings.

Moreover, the stock markets fell following news of a bomb blast in outskirts of IT city Bangalore. At least two persons died and 20 people injured in eight blasts, which hit Bangalore’s central business area and other crowded regions.

The Sensex marked its closure after losing 502.07 points at 14,274.94 after touching a high of 14,484.39 and a low of 14,210.63 during the day. On the other hand, the broad based Nifty ended at 4311.85 points, down 121.7 points, after hitting a high of 4,440.85 and a low of 4,297.15.

Heavy selling activity was seen in banking, capital goods, oil & gas and realty stocks. The other sectors including IT, auto, metal and power also faced heavy selling action.

BSE Midcap and Smallcap fell 0.15% and 0.25% respectively.

The overall market breadth remained weak as it saw 1460 declinations as against 1154 progressions.

The majority of sectoral indices traded negatively led by Bankex, which lost 5.75%, Oil & Gas declined 5.08%, Realty fell 3.84% and Consumer Goods fell 3.14%. However FMCG and Healthcare went up.

Major gainers in the 30-share index included Ranbaxy, ACC, HUL, Satyam and NTPC.

The major losers at the BSE Sensex were ICICI Bank, HDFC Bank, RIL, Jaiprakash Associates, ONGC, Reliance Infra, BHEL, DLF, Tata Motors and SBI.

For the week ended July 12, India’s inflation, based on the wholesale price index (WPI) decreased to 11.89% from 11.91% recorded in the previous week.

Foreign institutional investors sold equities worth Rs 565.73 crore, while domestic institutional investors sold equities worth Rs 302.41 crore.