Indian stock market, May 17 -- The Indian stock market closed the week in the red, snapping their three-week consolidation trend, weighed down by ongoing geopolitical tensions in West Asia, continued weakness in the rupee, and mounting inflation concerns.

On Friday, benchmark indices Sensex and Nifty 50 ended their two-session gaining streak as investors booked profits amid weak global market sentiment, a sharp rise in crude oil prices, and the rupee slipping to a fresh record low against the US dollar. The Sensex declined 161 points, or 0.21%, to close at 75,237.99, while the Nifty 50 dropped 46 points, or 0.19%, to settle at 23,643.50.

According to Ponmudi R, CEO - Enrich Money, markets are likely to stay highly volatile and sensitive...