Mumbai, Aug 29 : The Indian equity indices ended the session lower on Friday amid selling in heavyweights led by Reliance. The investors remained cautious amid US tariff concerns, adopting a mixed approach.

Sensex ended the session at 79,809.65, down 270.92 points or 0.34 per cent. The 30-share index opened flat at 80,010.83 against the last session's closing of 80,080.57. The Index traded flat most of the time before falling over 0.3 per cent in the closing hour, touching an intra-day low at 79,741.76.

Nifty closed at 24,426.85, down 74.05 points or 0.30 per cent.

"Investor sentiment remained cautious as markets attempted to digest the full impact of the US tariff. The persistence of this issue is likely to heighten the future competitiveness of India's exports in some areas," said Vinod Nair, Head of Research, Geojit Investments Limited.

While generally the pressure is also likely to weigh on Indian currency, driving it to depreciation. Equity benchmarks underperformed, with mid- and small-cap segments particularly affected by risk aversion and stretched valuations. In contrast, FMCG stocks sustained their upward momentum, supported by expectations of GST rate rationalisation and stronger consumer demand, he added.

Mahindra and Mahindra, Reliance, Infosys, Tata Motors, NTPC, Tech Mahindra, HDFC Bank, Titan, and Axis Bank settled in negative territory from the Sensex basket. ITC, BEL, L&T, Tata Steel, PowerGrid, SunPharma, and HCL Tech were the top gainers.

The majority of sectoral indices settled in negative territory amid a mixed approach. Nifty Fin Services fell 72.60 points or 0.28 per cent, Nifty Bank slipped 164 points or 0.31 per cent, Nifty Auto dipped 222 points or 0.88 per cent, and Nifty IT closed the session 307 points or 0.87 per cent down. Nifty FMCG soared 528 points or 0.95 per cent.

Broader Indices followed suit as well. Nifty Smallcap 100 ended the session 67 points or 0.39 per cent lower, Nifty Midcap 100 dipped 320 points or 0.57 per cent, and Nifty 100 ended the session 75 points or 0.30 per cent lower.

"The rupee hit an all-time low of 88.20, falling by another 0.60 (0.70 per cent), as pressure mounted after the US implemented tariffs on Indian products, raising concerns over a widening fiscal deficit.

"While the upcoming GST council decision is expected to lend some support, markets are awaiting clarity on the final GST changes before taking a decisive view. Sentiment remains weak, and the rupee is expected to trade within a range of 87.65'88.45," said Jateen Trivedi of LKP Securities.

/IANS