India's Sensex, Nifty suffer weekly loss of nearly 3pc.

Indian stock markets suffered sharp losses on Friday with benchmark indices finishing the week nearly 3 per cent lower. The SandP BSE Sensex reversed direction in the second half of the session, plunging as much as 770.18 points from the day's highest level to hit 37,633.36 on the downside, after the Reserve Bank of India reduced the key interest rates to the lowest level in nine years.

The broader NSE Nifty benchmark - which...