Mumbai, Oct. 23 -- The domestic stock market continued its downward trend on Friday, with benchmark indices Sensex and Nifty 50 closing in the red amid selling pressure across sectors, rising crude oil prices and weak global cues.

The NIFTY 50 index closed at 22,600, declining 87.65 points or 0.39 per cent, while the BSE SENSEX settled at 73,123.83, down 125.56 points or 0.17 per cent.

Vinod Nair, Head of Research at Geojit Investments, said the sharp correction in mid- and small-cap stocks compared with the Nifty remained a key concern for the market.

"The key concern in today's market is the disproportionately sharp correction in mid- and small-caps relative to the Nifty. Valuation concerns and unwinding of leveraged positions, combi...