Nifty marks second consecutive weekly fall on geopolitical concerns

Mumbai: The Nifty fell more than 1 per cent on Friday, marking its second consecutive weekly decline, as blue-chips such as Larsen & Toubro slumped on global risk aversion after US President Barack Obama authorised targeted air strikes in Iraq.

The broader Nifty provisionally lost 1.05 per cent, its third straight session of falls, while also closing below its 50-day moving average for the first time since Feburary 21.

Larsen & Toubro provisionally lost 2.7 per cent while HDFC Bank fell 1.9 per cent.