Indian stock market, March 15 -- The Indian stock market remained under heavy selling pressure for the third straight session on Friday, March 13, with benchmark indices the Sensex and the Nifty 50 declining about 2% each.

The Sensex fell 1,471 points, or 1.93%, to close at 74,563.92, while the Nifty 50 dropped 488 points, or 2.06%, to settle at 23,151.10. Broader markets also witnessed sharp losses, with the BSE 150 Midcap Index plunging 2.61% and the BSE 250 Smallcap Index sliding 2.67%.

Both the Sensex and the Nifty extended their decline for the third consecutive week. During the week, the Sensex lost 4,355 points, or 5.5%, while the Nifty 50 dropped 1,300 points, or 5.3%.

"Markets witnessed a sharp correction during the week, with...