bengaluru jan 6 reuters  indian shares fell more than 1 on thursday weighed down by losses in financial and technology stocks as an alarming spike in daily covid19 cases and a hawkish stance by the us federal reserve spooked investors the bluechip nse nifty 50 index nsei had lost 138 to 1767775 by 0520 gmt and the benchmark sp bse sensex bsesn had fallen nearly 15 to 5934106 after a foursession winning streak despite the sessions losses both indexes were up about 2 for the week indian shares also tracked weakness in global markets after minutes of the us federal reserves december policy meeting pointed to quicker interest rate hikes to tame persistently high inflation indias daily covid19 cases jumped 57 in a day to 90928 raising fears of more restrictions and concerns about its impact on the economic recovery read more in mumbai all major nifty subindexes were trading in negative territory with the banking sector nsebank down 13 after five straight sessions of gains indian markets are likely to consolidate till the budget is announced the first two quarters of the financial year saw brilliant earnings growth despite margin contractions and the same is expected this quarter as well said amit gupta a fund manager at icici securities the nifty it index niftyit which was among the top performing sectors last year extended losses to a second day and was down 148 analysts said while stellarperforming it stocks could see profitbooking in the nearterm they will continue to do well on prospects of decent revenue growth shares of oilstotelecom heavyweight reliance industries relins fell 2 and were among the top drags to the benchmark indexes among gainers future group shares rose a day after a court halted arbitration proceedings between the conglomerate and estranged partner amazoncom inc  read more reporting by shivani singh in bengaluru editing by subhranshu sahu