After a choppy session, the 30-share BSE Sensex settled 191.77 points, or 0.48 per cent, lower at 39,394.64, dragged by index heavyweights RIL, HDFC Bank, ICICI Bank and TCS.The broader NSE Nifty fell 52.70 points, or 0.45 per cent, to end at 11,788.85.

However, the key indices posted gains for the week. The Sensex rose 200.15 points or 0.51 per cent, while Nifty gained 64.75 points or 0.55 per cent during the week.Asian markets ended lower as G-20 leaders sat down to chart a way forward for the global economy hit by rising trade tensions. However, US President Donald Trump tempered expectations of an easy breakthrough, saying he had not promised his Chinese counterpart Xi Jinping any reprieve on imposing new tariffs.

Back home, top losers in the Sensex pack included Yes Bank, IndusInd Bank, Tata Motors, RIL, ONGC, Bajaj Auto, Vedanta, Tata Steel, TCS, HDFC Bank and ICICI Bank, which fell up to 3.29 per cent.On the other hand, Bajaj Finance, Axis Bank, NTPC, Maruti, HUL and Tech Mahindra rose up to 1.05 per cent.

Regulator Sebi Thursday made it mandatory for MFs selling liquid schemes to hold at least 20 per cent in liquid assets like cash and G-secs, and also banned them from entering into standstill agreements with firms whose debt they have exposure to.Meanwhile, in its bi-annual Financial Stability Report, the Reserve Bank said the country's "financial system remains stable despite some dislocation of late", but recommended extra vigil on NBFCs.

"Indian markets had a less than productive session, as concerns on IT demand impacted IT majors, which were a drag on the headline index, alongside weakness in metals and commodities."Prime Minister Narendra Modi held bilateral talks with US President Donald Trump ahead of the formal inauguration of the G-20 Summit in Osaka. Investors are hoping for a positive outcome from the upcoming G-20 summit.

"While European equities and US futures gained, Asian markets continued to drag. Indian markets fell in line with peer Asian markets. However, the high beta sectors like real estate, capital goods and PSU bank outperformed," said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.

Sectorally, the BSE energy, metal, telecom, basic materials, oil and gas, bankex and auto indices fell up to 1.52 per cent.However, realty, consumer durables, FMCG, utilities and healthcare gained up to 0.58 per cent.

Broader BSE midcap and smallcap indices lost up to 0.30 per cent.The Indian rupee appreciated 4 paise to 69.03 against the US dollar intra-day.Brent crude futures, the global oil benchmark, traded flat at USD 65.64 per barrel.