Foreign outflows, weak IT sector stocks weigh on benchmark indices

Sensex declines in 4 out of 5 sessions in the week, Nifty50 in 3 sessions

The benchmark indices declined on Friday because of a combination of weakness in information and technology (IT) sector stocks and selling by foreign portfolio investors (FPIs).

The benchmark BSE Sensex fell 389 points to end the session at 62,181.67, a decline of 0.62 per cent, and the Nifty ended the session at 18,496.60, a decline of 113 points or 0.61 per cent.

The Sensex declined in four of the five sessions this week, falling 1.2 per cent, while the Nifty declined in three sessions, falling 1.06 per cent in the week.

IT stocks fell on Friday after Credit Suisse warned of a correction