New Delhi, Aug. 30 -- Indian equity markets closed the week on a cautious note, extending their ongoing correction amid concerns over global interest rates, geopolitical uncertainties and volatility linked to the introduction of the new Closing Auction Session. While the market staged a strong recovery on Friday, led by robust buying in IT stocks following positive global technology cues, the benchmark indices remained in the red for the third consecutive week.

Over the week, the Nifty slipped around 0.31% to end at 24,175.65, while the Sensex declined nearly 0.36% to settle at 77,264.51. Meanwhile, the broader market showed relative strength, with the Midcap and Smallcap indices rising approximately 0.52% and 0.51%, respectively.

Nifty...