Heavy selling in the markets took the benchmark Sensex 191 points down on Friday. The markets fell for the forth consecutive secession. The index fell 1.1 percent, taking losses for the week to
4 percent, which is the biggest weekly fall since the crash in last week of October last year.

The 30-share Bombay Stock Exchange benchmark Sensex opened 353 points down as a result of the fall in other global markets. Other reasons for the fall are yesterday's poor corporate results and high inflation concerns.

The foreign funds stared selling heavily in the early morning trade. The market was however shocked with a healthy 16 per cent jump in Q3 fruits-the first profit in five quarters reported by the Reliance Industries.

The index fell further by 191.46 points to 16,6089 after touching a low of 16,608.09. And after four consecutive days of losses the Sensex lost 4.5 per cent of its value.

The index of National Stock Exchange, Nifty 50 too dropped by 58.10 points to 5036.00, after touching a low of 4,954 points. The index had opened 110.85 points down from previous close.

The investor concerns include the prospect of a rise in interest rate by the Reserve Bank of India in its policy review due next week and Morgan Stanley's warning of "upside risks" in the India growth story.

Mainly realty, IT and capital goods recorded heavy falls. Only four of the 30 Sensex stocks managed to gain value. The opening losses were mainly due to the grim global sentiment.