Sensex and Nifty extended their losing streak for the fourth consecutive day as IT shares witnessed selling pressure and foreign fund outflows.
BSE Sensex dropped 247.01 points to settle at 52,253.46, recovering from a larger intraday drop of 490.09 points.
Nifty settled lower by 67.55 points at 15,082.30, with Sensex falling nearly 1.75% and Nifty dropping by 1.73% over the last four days.
Foreign Institutional Investors offloaded equities worth Rs 5,104.22 crore on Friday, contributing to the market decline, while the rupee depreciated to close at 86.02 against the US dollar.