The Indian domestic stock market experienced a significant decline on Friday, driven by weak global cues, renewed concerns about inflation, and expectations of more interest rate hikes. The Sensex dropped by 365.83 points to close the week at 64,886.51, while the NSE Nifty50 fell by 143.70 points to close at 19,243. The downward trend was influenced by the upcoming keynote speech by US Federal Reserve Chair Jerome Powell at the annual Jackson Hole event. Powell’s remarks indicated the central bank’s readiness to take further measures to control inflation, including raising interest rates until the inflation rate aligns with the target of 2%.