The benchmark indices posted their first weekly loss in six weeks because of pullback by foreign funds amid rise in bond yields and oil prices.
The 30-share Sensex on Friday fell for the fourth straight day, led by losses in financial sector heavyweights HDFC, ICICI Bank, and HDFC Bank. It ended the session 360.78 points or 0.61 per cent lower at 58,765.58.
The broader Nifty50 declined 86.10 points or 0.49 per cent to close at 17,532.05. Experts said the markets had become overheated after a 15 per cent surge since August.
According to them, stocks may continue to trade weak before the Q2 results season gets underway. Investors are also keeping an eye on US bond yields, Brent crude prices and the RBI policy action.
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