Indices decline for 3rd straight week; Sensex slips 202 pts, ends below 48K

The Sensex has retreated more than 8 per cent from its all-time high, touched on February 15, nearing losses read as a technical correction.

The benchmark indices logged their third consecutive weekly loss on Friday as the deadly second wave of coronavirus infections raised concerns over business recovery because of lockdown-like curbs imposed across many states.

The Sensex came off nearly 400 points from the day’s high to end at 47,878, down 202 points, or 0.42 per cent, over its previous day’s close. The Nifty50 fell 65 points, or 0.45 per cent, to end at 14,341, ending below the 100-day moving average (DMA) — considered a crucial technical support. For both, this is the longest run of weekly losses since May 22. The Sensex has