New Delhi: Equity benchmark indices Sensex and Nifty buckled under selling pressure for the second straight session to settle nearly 1 percent lower on Friday as investors pared exposure to the metal, energy, and realty stocks amid a bearish trend in Asian and European markets.

Besides, a depreciating rupee against the US dollar and fresh foreign fund outflows also hit investor sentiments, traders said. (Also Read: Get Samsung Galaxy F23 5G At Just Rs 549 – Know How)

In a volatile trade, the 30-share BSE Sensex declined 398.18 points or 0.69 percent to finish at 57,527.10. During the day, it went lower by 502.3 points or 0.86 percent to 57,422.98. (Also Read: Hindenburg Report Wipes Out $526 Million From Jack Dorsey’s Worth)

The broader NSE Nifty fell 131.85 points or 0.77 percent to end at 16,945.05. Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 percent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro, and Mahindra & Mahindra, Axis Bank, and Titan.

On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints, and Wipro were the gainers. In Asia markets, stock exchanges in Seoul, Japan, Shanghai, and Hong Kong ended lower.

European markets were also quoting in the red in the afternoon trade. The US markets ended higher on Thursday. Meanwhile, the rupee declined 25 paise to close at 82.45 against the US dollar.

Global oil benchmark Brent crude dipped 1.73 percent to USD 74.60 per barrel. Foreign Portfolio Investors offloaded equities worth Rs 995.01 crore on Thursday after a day’s breather, according to exchange data.