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Key benchmark indices, Sensex and Nifty, slipped into negative territory on Friday after a three-day rally, dragged down by selling pressure in Infosys, ICICI Bank, and Axis Bank.

Unabated foreign fund outflows and elevated crude prices in international markets also played a spoilsport for the bourses.

In a largely subdued session, the 30-share benchmark declined by 423.49 points, or 0.55 per cent, to settle at 76,619.33. During the day, it tumbled by 779.53 points, or 1 per cent, to 76,263.29.

Similarly, the NSE Nifty dropped 108.60 points, or 0.47 per cent, to 23,203.20.

From the 30-share blue-chip pack, Infosys dropped nearly 6 per cent despite raising its annual sales forecast for the third time this fiscal year.

Infosys Ltd, India’s second-largest IT services firm, on Thursday reported an 11.46 per cent rise in third-quarter net profit due to a pick-up in demand, which also prompted the company to raise its annual sales forecast for the third time this fiscal year.

Axis Bank also declined by over 4 per cent following its earnings announcement.

Kotak Mahindra Bank, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Tech Mahindra, Bajaj Finance, HDFC Bank, and Bajaj Finserv were other significant laggards from the pack.

In contrast, Reliance Industries climbed 2.50 per cent higher after the firm reported a 7.4 per cent rise in December quarter net profit as the retail business rebounded, telecom earnings surged on higher tariffs, and the mainstay oil and petrochemicals business delivered consistent performance.

Zomato emerged as the biggest gainer, followed by Reliance, Nestlé, Asian Paints, and Power Grid.

In Asian markets, Seoul and Tokyo settled lower, while Shanghai and Hong Kong ended in positive territory.

European markets were quoting with gains. US markets ended lower on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,341.95 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.17 per cent to USD 81.43 a barrel.

The 30-share BSE index climbed 318.74 points, or 0.42 per cent, to revisit the 77,000 level at 77,042.82 on Thursday. Similarly, the Nifty rallied 98.60 points, or 0.42 per cent, to 23,311.80.