The Indian stock market gave up recent record highs to close marginally lower on Thursday, pressured by financial stocks as sentiment took a hit a day after debt-laden Jet Airways suspended all operations after running out of funds.
The benchmark BSE Sensex closed down 0.34 percent at 39,140.28, while the broader NSE Nifty ended 0.29 percent lower at 11,752.8. But both indexes finished the week, truncated due to holidays, about 1-1.2 percent higher.
The Nifty PSU Bank Index fell 2.1 percent to its worst close in over three weeks.
Jet Airways Ltd plunged 31.5 percent in its worst session ever after it halted all flight operations indefinitely on Wednesday as its lenders rejected its plea for emergency funds.
Conglomerate Reliance Industries Ltd was the top boost to the index, closing up 3.1 percent ahead of its quarterly results.