Indian stock market, May 10 -- Benchmark indices Sensex and Nifty 50 extended their decline for a second straight session on Friday, May 8, weighed down mainly by losses in banking and financial stocks.

The Sensex closed 516 points, or 0.66%, lower at 77,328.19, while the Nifty 50 slipped 151 points, or 0.62%, to settle at 24,176.15. Meanwhile, broader markets continued to outperform, with the BSE 150 Midcap index edging down 0.05% and the BSE 250 Smallcap index gaining 0.15%.

According to Ponmudi R, CEO, Enrich Money, markets in the coming week are expected to remain highly volatile and largely driven by geopolitical headlines, with investor attention firmly focused on developments surrounding the ongoing US-Iran situation.

"Key focus...