New Delhi, Feb 11 (TIWN) India's key benchmark equity indices -- S&P BSE Sensex and NSE Nifty50 -- declined sharply and settled in the red on Friday due to global factors.

"We are seeing a sharp cut in the market on the back of a sharp jump in the US bond yields due to four decade-high inflation. However, most of this fear is already factored in, therefore we have to check how the market will negotiate a high-interest environment because we have seen the scenario of rising interest rates and rising equity markets," said Santosh Meena, Head of Research at Swastika Investmart.

On Friday, the Sensex settled at 58,153 points, down 1.3 per cent or 773 points, whereas Nifty settled at 17,375 points, down 1.3 per cent or 231 points.

All the Nifty sectoral indices declined sharply on Friday, with Nifty IT, PSU Bank, and realty declining the most, exchange data showed.