Markets endure another bad week as Sensex, Nifty plunge over 5%
Photo Credit: Reuters

Indian shares plunged on Friday, dragged by energy and financial stocks, after the central bank in a surprise decision kept key interest rates unchanged while the government's announcement on Thursday to cut gasoline and diesel prices hurt oil marketers.

The benchmark BSE Sensex closed down 2.25 percent at 34,376.99, its biggest percentage loss since February 2.

The broader NSE Nifty ended 2.67 percent lower at 10,316.45, its biggest percentage fall since Nov. 11, 2016.

For the week, the Nifty fell 5.62 percent, while Sensex shed 5.11 percent, their sharpest drop since the week ending Feb. 12, 2016.

Reliance Industries Ltd closed 6.5 percent lower, contributing to over half the Nifty's losses, while Housing Development Finance Corp Ltd closed 3.92 percent weaker.

Shares of oil marketing companies such as Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd closed 23.97 percent and 19.89 percent lower, respectively. Indian Oil Corp Ltd shares fell 15.86 percent.

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