Stock market indices Sensex and Nifty fell for the third straight day to close in the red on Friday, November 7. But what is more worrying is that the bourses have been on the slide for the past two weeks.

The last weekly improvement happened from October 17 close of 83,952.19 to October 24 close of 84,211.88 in the Sensex.

The Friday that came after, October 31, saw the Sensex slide to 83,938.71 points. Today, November 7, the Sensex hit 83,216.68 at the closing bell.

Persistent foreign funds outflow, weak global trends, and profit booking, all weighed into the market movement, denting investor sentiments.

Today, the BSE Sensex shed as much as 640 points to a 82,670.95 low. St close, the 30-pack benchmark had declined 94.73 points. Friday trading also shaved off 17.40 points in the 50-share NSE Nifty to close at 25,492.30.

Losers and gainers

Bharti Airtel became the biggest Sensex loser, slumping 4.46 per cent following the Singtel announcement that it sold about 0.8 per cent stake in the telecom carrier for Rs 10,353 crore.

Other laggards were Tech Mahindra, Trent, Reliance Industries, HCL Tech, and Hindustan Unilever.

Despite the market slump, Bajaj Finance, Tata Steel, Mahindra & Mahindra, and Bajaj Finserv emerged as the top gainers.

Global cues were muted with Asian peers—South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite Index, and Hong Kong’s Hang Seng index—all ending in the week in red.