The losses in the domestic stock indices widened as the session progressed on Friday and they settled sharply lower, tracking weak global cues as the fear of the Covid surge kept investors at bay.
The benchmark indices extended losses for the fourth straight session and marked the sharpest single-day fall in about three months.
Sensex closed the session at 59,845.29 points, down 980.93 points or 1.61 per cent, whereas Nifty closed at 17,806.80 points, down 320.55 points or 1.77 per cent.
Among the Nifty 50 stocks, Adani Ports, Adani Enterprises, Hindalco, Tata Steel, and Tata Motors were the top five losers.
As many as 47 of Nifty 50 stocks declined today. Cipla, Divis Labs, and Titan were the only gainers.
"European stock markets edged higher Friday in thin holiday-affected volumes while most Asian markets indexes fell after forecast-beating US data fuelled expectations that the Federal Reserve will lift interest rates well into next year," said Deepak Jasani, Head of Retail Research at HDFC Securities.
"US inflation data due later Friday also caused concerns that it may be yet another reason for the Federal Reserve to harden its resolve to pursue aggressive policy," Jasani added.
( With inputs from ANI )
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