Equity benchmarks Sensex and Nifty50 buckled under selling pressure for the second straight session to settle nearly 1 per cent lower on Friday as investors pared exposure to the metal, energy and realty stocks amid a bearish trend in Asian and European markets.
Besides, a depreciating rupee against the US dollar and fresh foreign fund outflows also hit investor sentiments, traders said.
In a volatile trade, the 30-share BSE Sensex declined 398.18 points or 0.69 per cent to finish at 57,527.10, with 24 of its constituents posting losses. The broader NSE Nifty fell 131.85 points or 0.77 per cent to slip below the 17,000 level. The index settled at 16,945.05.
On a weekly basis, the BSE benchmark fell 462.8 points or 0.79 per cent, while the Nifty slipped 155 points or 0.90 per cent.
Falling for the second day in a row, Reliance Industries witnessed an intense sell-off and declined 1.96 per cent.
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