Markets decline over Fed officials' hawkish remarks; Sensex down 316 pts

The benchmark indices declined on Friday following hawkish statements by Federal Reserve and European Central Bank officials who brought back fears of even higher interest rates. Still, indices ended the week in the green; this was the third consecutive weekly gain despite heightened volatility amid the rout in Adani group stocks.

The Sensex ended the session at 61,002, following a decline of 317 points or 0.5 per cent. The Nifty50, on the other hand, ended the session at 17,944, down 91 points or 0.5 per cent.

Earlier this week, President of the Federal Reserve Bank of Cleveland Loretta Mester said