Sensex, Nifty extend losses as crude tops $114

India’s benchmark stock indexes extended their decline on Friday, with the Sensex and Nifty closing lower for a fourth consecutive session as crude oil prices rose above $114 a barrel and broad selling weighed on shares. The Nifty 50 settled at 22,600, down 87.65 points, or 0.39%. The BSE Sensex closed at 73,123.83, a loss of 125.56 points, or 0.17%. Both indexes fell more than 2% over the trading week, according to one market report. The Sensex opened higher before falling as much as 797.02 points to an intraday low of 72,452.37, then recovered some ground by the close. The Nifty touched an intraday low of 22,372, down 315.65 points from its previous close, before also recovering. Crude oil’s rise and weak global market cues accompanied selling across sectors. Brent crude was reported trading above $114 a barrel during the session. Nifty Metal fell 2.98% and Nifty Consumer Durables declined 2.93%; Nifty PSU Bank lost 2.52%. Several stocks rose despite the broader retreat, including Eternal, Tata Consultancy Services, UltraTech Cement, Asian Paints and Maruti Suzuki India. Vinod Nair, head of research at Geojit Investments, said sharper losses in mid- and small-cap shares than...