New Delhi, Aug. 7 -- Benchmark domestic equity indices closed the week in red, following broad-based profit-booking and selling pressure in key sectors, particularly private banks and financial stocks. The BSE Sensex dropped 455.59 points, or 0.58 per cent, to finish at 78,499.17 points, while the NSE Nifty 50 slipped 65.35 points, or 0.27 per cent, to close at 24,570.65 points.

Vinod Nair, Head of Research, Geojit Investments Limited sounded a cautious note, stating that, "Market sentiment remains measured as the absence of a definitive geopolitical resolution in the Middle East continues to keep crude oil prices volatile."

He noted that gold has strengthened on renewed safe-haven demand and a softer US dollar, with investors closely t...