Stock market today, May 11 -- The Indian stock market closed in the red on Friday, marking its second straight session of losses, amid selling pressure in heavyweight index stocks. The Sensex declined 516.33 points, or 0.66%, to end at 77,328.19, while the Nifty 50 fell 150.50 points, or 0.62%, to settle at 24,176.15.

However, the market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Monday. Gift Nifty was trading near the 24,092 mark, down over 142 points from the previous close of Nifty futures.

"On the domestic front, institutional flows, rupee movement and sectoral participation-particularly within banking and energy-linked stocks-are expected to remain key drivers of market...