The Indian stock markets entered a consolidation phase, with key indices losing over 5% over the week. The Sensex fell 914 points, or 5.44%, to close at 15,896, while the Nifty lost 5.7% to close at 4,711. Analysts said the downward movement was expected as stock valuations had become detached from corporate earnings. Foreign funds were net sellers during the week, offloading shares worth $12.8 million.