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Domestic equity markets extended their gains for the second straight week as market participants took comfort from Federal Reserve minutes showing a pause to its rate hikes is on the cards later this year.
On Thursday Sensex dived over 1,500 points to hit an intraday low of 52,669.51 and Nifty also tanked over 400 points amid an extremely weak trend in the global markets.
On Friday, equity benchmark Sensex pared all intraday gains and closed 136.69 points or 0.26 per cent lower at 52,793.62.
The 30-share BSE Sensex tanked over 1000 points to hit an intraday low of 53,047.75. The NSE Nifty declined over 300 points to 15,848.10.
Sensex and Nifty ended deep in the red on Friday, weighed down by a selloff in US markets as investors were worried that higher interest rates the Federal Reserve was using in its fight against inflation could derail the economy.