Indian equity benchmarks closed lower on the last week of the year, with Nifty 50 and BSE Sensex falling 0.38% and 0.41%. Nifty Bank, mid- and small-cap stocks also closed lower. Experts believe profit booking and weak technical indicators caused the decline, with a potential consolidation phase ahead. Top gainers were Tata Steel, Tata Consumer Products, and Asian Paints.