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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Sensex drops for second straight week

Reuters
A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai February 6, 2014. REUTERS/Mansi Thapliyal/Files

(Reuters) - The BSE Sensex posted its second weekly fall as investors turned cautious ahead of a U.S. payrolls report for April that could influence bets on future U.S. rate hikes.

The benchmark index closed 0.13 percent lower on Friday at 25,228.5, recording a 1.5 percent drop this week. It lost 0.9 percent last week.

The broader NSE Nifty closed down 2.05 points at 7,733.45. The index is down 1.4 percent for the week, after falling 0.6 percent last week.

(Reporting by Aastha Agnihotri in Bengaluru; Editing by Gopakumar Warrier)