Nifty marks second consecutive weekly fall on geopolitical concerns

MUMBAI (Reuters) - The Nifty fell more than 1 percent on Friday, marking its second consecutive weekly decline, as blue-chips such as Larsen & Toubro slumped on global risk aversion after U.S. President Barack Obama authorised targeted air strikes in Iraq.

The broader Nifty provisionally lost 1.05 percent, its third straight session of falls, while also closing below its 50-day moving average for the first time since Feb. 21.

Larsen & Toubro provisionally lost 2.7 percent while HDFC Bank fell 1.9 percent.

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)