Indian equity benchmarks Sensex and Nifty declined for the second consecutive session on Friday, pressured by profit booking in information technology stocks and weak global cues.

At around 10:15 am, the Sensex was down 343.43 points, or 0.41%, at 82,970.50, while the Nifty 50 slipped 131.40 points, or 0.51%, to trade at 25,511.40.

Heavy selling in IT shares dragged the markets lower, with the Nifty IT index falling nearly 3%, marking its worst weekly performance in over four months. Pharma stocks also witnessed notable declines, adding to overall market weakness.

Broader markets underperformed the benchmarks, with the Nifty Smallcap 100 declining 1.28% and the Nifty Midcap 100 down 0.78%. Market breadth remained firmly negative, as 2,185 stocks declined, 1,125 advanced, and 163 remained unchanged on the NSE.

Investor sentiment was further dampened as foreign institutional investors (FIIs) turned net sellers, amid concerns over weak global markets and rising crude oil prices.

With most sectoral indices trading in the red, analysts said near-term market direction may remain cautious unless global cues stabilise and selling pressure in IT stocks eases.