The Sensex index of the Bombay Stock Exchange closed 220 points lower, reflecting losses in banking, auto and energy stocks. The broader market also declined, with the midcap and small cap indices down over 1%. Foreign funds were net buyers, purchasing $37.4 million worth of scrips. Analysts said the market was seeing signs of slowing momentum and December is expected to be a slow month with trading volumes lower. Other Asian markets also closed lower while European markets recovered after an initial weakness.