The Indian stock markets extended losses for the second consecutive week, with the Nifty 50 and Sensex indices closing lower. The Nifty fell nearly 1% during the week, hitting a four-month low and forming a bearish candlestick pattern for the second consecutive session on November 8. Most sectors posted losses, with exceptions being the IT sector, which gained 4%, and PSU banks. Midcap indices were up 0.5%, while smallcap indices dipped. Selling pressure was seen in sectors like FMCG, Metal, Energy, and Realty. Market capitalization of six of the top ten most-valued firms eroded by Rs 1.55 lakh crore, with Reliance Industries being the biggest laggard, losing Rs 74,563 crore to stand at Rs 17,37,556.68 crore. Analysts suggest that if the Nifty breaks below the 24,000 level next week, selling pressure may extend further.