MUMBAI: Indian equity markets closed lower for the sixth consecutive week amid escalating geopolitical tensions in West Asia and sharp currency fluctuations, with both headline indices ending in the red during a shortened four-day trading week.
Sensex ended at 73, 319.55 on Thursday, down 263.67 points or 0.35 per cent, compared to the previous Friday's close. Nifty 50 settled at 22, 713.10, a decline of 106.50 points or 0.46 per cent on a week-on-week basis.
In the final session of the week, both benchmarks plummeted in early trade -- the 50-scrip basket shedding over 500 points and Sensex declining more than 1, 500 points -- after US President Donald Trump warned of possible intense military strikes on Iran within the next two to three weeks, offering no clarity on a diplomatic resolution to the conflict. Markets, however, recovered partially by the close.
Among Nifty 50 constituents, HDFC Life Insurance, Sun Pharma, Dr Reddy's Laboratories, NTPC and Cipla were the top losers for the week.