Benchmark share indices are likely to consolidate in the week ahead with the next batch of corporate earnings to dictate the trend.
Markets snapped their two-week winning streak, amid weak global cues, after the Bank of Japan's surprising stance on interest rate and lower GDP growth forecast led to a sell-off in global stocks.
In the week to April 29, the S&P BSE Sensex ended down 0.9% at 26,607 and the Nifty50 settled 0.6% lower at 7,850.
The trend during the week was dictate by earnings from select index heavyweights and private lenders.
Reliance Industries ended down 5.4% on profit taking post its results announcement. The stock had appreciated nearly 10% in the last two months ahead of its fourth quarter earnings.
ICICI Bank was the top Sensex loser down 6% after it reported a 76 per cent drop in net profit in January-March quarter to Rs 702 crore as it set aside additional contingency provisioning of Rs 3,600 crore.
Axis Bank ended with marginal losses. The private lender put loans worth Rs 22,600 crore under a watch list and expects 60% of the watch list accounts to fall into the non-performing assets category over the next eight quarters.
Bharti Airtel ended up 3%. The telecom major has posted a 2.8% increase in net income at Rs 1,290 crore for the quarter ended March, with high growth in mobile data revenue.
YES Bank surged nearly 8% after it reported 27% growth in net profit in the March 2016 quarter at Rs 702 crore, compared to Rs 551 crore in the corresponding quarter a year ago on the back of high net interest income (NII) and other income.
HCL Technologies slumped over 11% after it reported lower-than-expected 0.3% growth in consolidated net profit at Rs 1,926 crore for the quarter ended March 2016 (Q4) on a sequential basis.