The BSE benchmark Sensex fell for the fourth straight day on Friday losing 127 points after factory output for March contracted to a five-month low of 3.5 per cent, renewing concerns of slowing economic growth.
The 30-share Sensex, which had lost 493 points in last three-day, fell further by 127.07 points, or 0.77 per cent to close at 16,292.98, after touching the day's low of 16,233.76.
Brokers said the market had its biggest weekly loss this year as Index of Industrial Production falling in March dampened investor sentiment amid worries over weakness in the economy.
They also said the falling trend in Asia as well as in European stock markets on eurozone concerns re-emerged over
Greece and Spain and disappointing Chinese industrial production data, raising fears that global growth will falter.
Among the Sensex pack, 21 stocks closed lower and eight fell, while Sterlite Industries remained unchanged.
On similar lines, the broad-based National Stock Exchange index Nifty fell by 36.80 points, or 0.74 per cent to 4,928.90 led by stocks of Healthcare, Power and FMCG.
Bucking the general weak trend, a rise in Reliance Industries and Tata Motors cushioned the fall on Friday.
The BSE-Healthcare sector index suffered the most by losing 1.97 per cent to 6,574.07 followed by BSE-Power index by 1.40 per cent to 1,822.92.
BSE-FMCG sector index fell by 1.27 per cent to 4,617.93 while the BSE-Metal index dropped by 1.17 per cent to 10,106.70.
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The BSE benchmark Sensex fell for the fourth straight day on Friday losing 127 points after factory output for March contracted to a five-month low of 3.5 per cent, renewing concerns of slowing economic growth.