First weekly decline for indices in 2 months as investors turn cautious

The benchmark indices clocked their first weekly decline in nearly two months, as investors turned cautious ahead of the start of the earnings season and polling for the general elections. 

The indices, however, rose on Friday boosted by gains in index heavyweight ITC. The Sensex gained 160 points, or 0.41 per cent, to close at 38,767, while the Nifty gained 47 points, or 0.4 per cent, to end at 11,643. 

Friday’s gains helped the indices pare losses for the week. The Sensex ended the week with a loss of 0.2 per cent, or 95 points. In the preceding seven weeks, the index