Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
After a long volatile session, domestic markets ended in negative territory on Friday, dragged by losses in financial markets amid weak global cues.
The S&P BSE Sensex slipped to 143.36 points or 0.39 per cent to end at 36,594.33. Similarly, NSE Nifty closed at 10,768.05, down by 45.40 points or 0.42 per cent.
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HDFC, ICICI Bank, HDFC Bank were among the top losers Axis Bank contributed the most as it plunged over 3 per cent on the BSE charts.
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On the other hand, Reliance gained nearly 3 per cent and was leading the top gainers on the BSE, followed by Sun Pharma, HUL, Bharti Airtel, TCS, Power Grid Corp and others.
On a weekly basis, BSE gained 1.6 per cent while NSE jumped 1.5 per cent.
On the broader market, the S&P BSE MidCap and SmallCaP fell 0.72 per cent and 0.35 per cent respectively.
According to traders, domestic benchmarks followed the negative trend in other Asian equities as concerns over a fresh spike in COVID-19 cases and its impact on economic recovery weighed on investor sentiment.
The number of cases around the world linked to the disease has crossed 1.22 crore and the death toll has topped 5.54 lakh.
In India, the number of infections has spiked to 7.93 lakh, with 21,604 fatalities.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant losses, while stock exchanges in Europe started on a positive note.
Meanwhile, international oil benchmark Brent crude futures slipped 2.08 per cent to USD 41.47 per barrel.
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