BENGALURU, Jan 5 Reuters India39;s bluechip Nifty 50 index ended below the 18,000 mark for the first time in nearly two weeks on Thursday as Bajaj Finance39;s disappointing quarterly update sparked a selloff in the highflying financials sector.

The Nifty 50 index finished 0.28 lower at 17,992.15, closing under the key 18,000mark for the first time since Dec. 23. The SP BSE Sensex fell 0.50 to 60,353.27.

Bajaj Finance tumbled 7.17 after reporting moderate growth in new loans and assets under management for the third quarter.

That dragged the heavyweight financials sector down 1.18, marking its steepest fall in about two weeks. The index has outpaced the broader markets39; growth for much of last year and was among the bestperforming of the 13 major sectors.

Since the largest financials firm Bajaj Finance is pointing at subdued growth, it has had a ripple effect on other financials, said Siddhartha Khemka, head of retailed research at Motilal Oswal Financial Services.

Khemka also said there was caution across segments in the market ahead of the earnings season, which kicks off next week with IT companies39; quarterly results.

However, the losses were not broadbased, with eight of the 13 main sectors ending higher and 33 of the Nifty 50 finishing in the green.

The Nifty 50 has mostly traded between its 50day and 100day moving averages separated by about 400 points for 10 straight sessions.

Analysts expect this sideways move to continue, with 39;buyondip39; trades…