Sensex plummets s as financials, consumer goods drag; Reliance slips ahead of earnings

The NSE Nifty 50 index fell 1.77% to 14,631.1, while the benchmark S&P BSE Sensex shed 1.98% to close at 48,782.36.

Indian shares snapped a four-day winning streak on Friday, driven lower by financial and consumer goods stocks, while heavyweight Reliance Industries slipped ahead of earnings due later in the day. The NSE Nifty 50 index fell 1.77% to 14,631.1, while the benchmark S&P BSE Sensex shed 1.98% to close at 48,782.36. The indexes, however, gained 2.0% and 1.9% over the week as upbeat corporate earnings reports buoyed sentiment. The Nifty and Sensex have fallen 5.2% and 7.1%, respectively, from February peaks as surging COVID-19 cases and related restrictions have threatened to derail the country's economic recovery.