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Nifty posts worst weekly loss in 3-1/2 years

The Nifty fell for a fifth consecutive session on Friday to post its worst weekly fall since December 2011, continuing to reel after a forecast for weaker-than-expected monsoon raised fears the Reserve Bank of India (RBI) would not cut rates again this year.

Share markets have accelerated losses since the forecast on Tuesday, which came on the day the central bank cut interest rates by 25 basis points but warned that future easing would depend on how the monsoon impacts domestic inflation.

The Nifty fell 0.2 per cent to 8,114.70 on Friday, bringing its weekly loss to 3.78 per cent – the biggest since a 4.4 per cent fall in December 2011.

The benchmark Sensex fell 0.17 per cent to 26,768.49, down 3.81 per cent for the week; the biggest weekly fall since a 3.89 per cent decline in December 2014.

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