The Sensex and Nifty indices have experienced a significant decline for the fifth consecutive session due to heavy foreign institutional selling and disappointing Q2 earnings reports.

Key sectors such as Nifty Bank, Auto, Energy, Metal, PSU Bank, Realty, and Media have all faced a drop of 2-3 percent.

IndusInd Bank's shares have plummeted over 19 percent after the private lender reported a 40 percent year-on-year drop in net profit for Q2FY25, which was attributed to a sharp increase in loan loss provisions.

At the market close, the Sensex fell by 490 points, or 0.6 percent, settling at 79,575, while the Nifty dropped 188 points, or 0.8 percent, to end at 24,211.

This week alone, the Sensex slid 2.5 percent, and the Nifty tumbled 3 percent, marking a continuous decline throughout the week.

Both indices are now down 8 percent from their all-time highs, reflecting a broader market downturn amid ongoing global uncertainties and lackluster corporate earnings.