Sensex, Nifty On Course For First Weekly Drop In Six
NDTV
Sensex, Nifty updates: The blue-chip NSE Nifty 50 index declined 0.65 per cent to 17,503.20 by 2:07 pm and the benchmark S&P BSE Sensex fell 0.69 per cent to 58,719.72
Shares were set for their first weekly drop in six as markets fell further on Friday, weighed down by losses in banking and auto stocks and on concerns surrounding global economic recovery and inflationary pressure.
The blue-chip NSE Nifty 50 index declined 0.65 per cent to 17,503.20 by 2:07 pm and the benchmark S&P BSE Sensex fell 0.69 per cent to 58,719.72, extending losses into a fourth session.
Both indexes have lost about two per cent so far this week in what would be their biggest weekly drop since February, as markets attempt to consolidate after the recent run-up on accommodative monetary policies and easing COVID-19 restrictions.
On Friday, fears that inflation may persist even after global growth has peaked, and expectation that the U.S. Federal Reserve would tighten policy in the coming months wrecked markets across the world.