Sensex, Nifty hit fresh 7-month lows; YES Bank, TCS, Infosys stocks fall

Analysts said disappointment in earnings is adding to market woes

Markets extended declines and key equity indexes capped a seventh week of losses in the last eight, as a looming cash crunch and headwinds from rising oil prices and a weakening rupee clouded the economic and earnings outlook.

The benchmark Sensex dropped 1 per cent or 341 points, to 33,349, falling 2.8 per cent this week. The broader Nifty fell 95 points or 0.94 per cent, to 10,030 — its lowest close in seven months. Friday’s close was the lowest since March 23, when the Nifty had closed at 9,998 — also the one-year low for the index.

Some investors expect volatility