Mumbai: The Sensex tumbled for the third straight session to close below the 60,000-mark on Friday, ending the first week of the new year with losses amid concerns over elevated inflation and continued monetary policy tightening.
The 30-share BSE Sensex slumped 452.90 points or 0.75 per cent to finish at 59,900.37. The broader NSE Nifty went lower by 132.70 points or 0.74 per cent to end at 17,859.45.
TCS was the top laggard in the Sensex pack, shedding 2.97 per cent, followed by IndusInd Bank, Bajaj Finserv, Tech Mahindra, Bajaj Finance, Infosys and Kotak Mahindra Bank.
Only five counters closed higher — Mahindra & Mahindra, Reliance Industries, Nestle India, ITC and Larsen & Toubro, rising up to 1.06 per cent.
On a weekly basis, the Sensex lost 940.37 points or 1.55 per cent, while the Nifty declined 245.85 points or 1.36 per cent.
The rupee pared initial gains and settled 4 paise lower at 82.66 against the US dollar on Friday, tracking a rebound in the greenback overseas and a muted trend in domestic equities.