Mkts log biggest weekly drop in two yrs as indices drop sixth day on trot

Benchmark indices shed over 5% each as investors take money off risky assets amid fears of global recession after US Fed's 75 bps rate hike

The Benchmark Nifty and Sensex indices fell for the straight sixth day on Friday, capping their worst week in over two years.

The Sensex ended this week at 51,360.4, a decline of 5.4 per cent or 2,943 points from the previous week. The Nifty, on the other hand, ended the session at 15,293.50, a drop of 5.9 per cent from the last week. The Nifty Midcap 100 index and the Nifty Smallcap 100 index decline 6.2 per cent and 7.9% per cent, respectively.

This was the worst weekly showing for the market since May 8, 2020—during the aftermath of covid-19