The market was under pressure in the first half of this week and consolidated in the second half, but it fell by more than 1%, breaking the upward momentum of three consecutive weeks. FII outflows, mixed earnings, a possible rate hike by the Federal Reserve, and the possibility of a US recession following weak jobs data and a drop in manufacturing activity remained investor concerns.

For the week, the BSE Sensex shed 775.94 points or 1.28% to end at 59,655.06, while the Nifty50 shed 204 points or 1.14% to end at 17,624.

The BSE largecap index fell 1% for the week, while the midcap and smallcap indexes were flat.

Among sectors, the Nifty Information Technology index fell 5.3%, the Media index fell 1%, and the Metal index fell 0.5%. However, the Nifty PSU Bank Index rose 2%, the FMCG Index rose 1%, and the Oil & Gas Index rose 0.8%.

The BSE smallcap index rose 0.3%. Precision Camshafts, Asian Granito India, Pokarna, Future Consumer, Patel Engineering Company, Khadim India, Binny, Titagarh Wagons, Deep Polymers, Ethos, Dish TV India, Deep Industries, Ramky Infrastructure and SVP Global Textiles added 15-33%.

However, Radhe Developers (India), Brightcom Group, Cressanda Solution, EKI Energy Services, Optiemus Infracom, GRM Overseas, Balaji Amines, AAVAS Financiers, Monarch Networth Capital, National Fertilizers, Paisalo Digital and BF Investment fell 10-34%.

After buying for three straight weeks, foreign institutional investors (FIIs) turned net sellers this week, selling shares worth Rs 4,643.05 crore. On the other hand, domestic institutional investors (DII) provided support as they bought shares worth Rs 3,026.27 crore.

So far this month, FIIs have bought shares worth Rs 316.67 crore, and DIIs bought shares worth Rs 342.32 crore.