Mumbai: Equity benchmark indices-Sensex and Nifty- declined sharply for the second straight session on Friday, tracking deep losses in pharma, metal, and IT stocks amid trade-related concerns and widespread selling pressure in global markets. Besides, persistent selling by foreign investors added to the gloom, according to experts.

In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84 per cent to 80,495.57. As many as 2,712 stocks declined while 1,306 advanced and 151 remained unchanged on the BSE. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35.

“The benchmark index Nifty wrapped up its fifth consecutive week in the red -- its longest losing streak since August 2023, raising eyebrows across the street...Despite making multiple attempts to scale up, the index has struggled to hold ground, only to be met with selling pressure each time. The long upper wicks are a telling story — bulls tried, but bears had the final say,” Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, said.