After the high, a big fall: Sensex's 11-week winning streak ends

The Indian markets on Friday posted their biggest single-day fall in a month amid a slide in global equities and sell-off in the banking space. 

Most global stocks dropped, with investors pruning their bullish bets as rising Covid-19 cases sparked concerns about corporate earnings and economic revival. The dollar strengthened and yields rose due to inflation expectations.

The benchmark Sensex finished at 48,878.5, down 746 points, or 1.5 per cent, ending its 11-week gaining streak. The Nifty closed at 14,372, down 218 points, or 1.5 per cent -- the most since December 21.

FPIs sold shares worth Rs 636 crore, while domestic investors