The week ended on a poor note for investors as the benchmark Sensex crashed over 889 points on hawkish moves by central banks amid continued selling by foreign portfolio investors (FPIs).

While the Sensex ended at 57011.74, thus tanking by 889.40 points or 1.54 per cent, the Nifty ended below 17000 at 16985.20 — a drop of 262.20 points.

Market sentiment was affected by actions of various central banks in response to rising inflation overseas. The headwinds from inflation and consequent actions from central banks come at a time the mood remains cautious because of the rising reports of Omicron globally as well as in India. On Friday, the Centre said that the new variant was spreading rapidly, with the number of cases at more than 100.

Observers said there were no positive triggers for retail investors to scoop up stocks even as FPIs continue to be on a sale mode because of concerns of rich valuations in India vis-à-vis other markets.

So far in December, the FPIs have sold stocks worth Rs 13,500 crore. Analysts said the next key event is the Union budget in February and the subsequent monetary policy meeting of the Reserve Bank. Stocks are expected to remain volatile now.

Infosys led the short list of gainers in the Sensex pack, rising almost 3 per cent.