Mumbai: Benchmark indices for Indian equities lost more than three percent this week on negative sentiment due to concerns that the European debt crisis could derail world economic recovery and foreign fund outflows. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) fell 3.23 percent or 548.99 points to end at 16,445.61 points Friday. The broader S&P CNX Nifty of the National Stock Exchange (NSE) too ended the week at 5,304.1 points, down 162.35 points or 3.18 percent. Broader indices also closed in the red with the BSE midcap index losing 3.65 percent and the BSE smallcap index shedding 4.48 percent. The top gainers on the 30-scrip Sensex were L&T (5.2 percent), ONGC (4.8 percent), SBI (2.1 percent), ITC (1.2 percent) and Cipla (1.1 percent) Among top losers were Tata Motors (13 percent), DLF (9.9 percent), Ranbaxy Labs (8.9 percent), ICICI Bank (8.4 percent) and Hindalco (7.2 percent). According to the BSE, the sectors that lost out the most during the week realty (8.8 percent), metals and auto (5.1 percent) and banking (4.2 percent). Buying interest was seen in capital goods stocks with the index for such scrips ending 1.2 percent. According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors sold scrips worth $839.84 million. In Asia, investors sought to limit exposure to European countries and the indices reflected the selling pressure. The Japanese Nikkei ended 6.48 percent lower at its weekly close Friday at 9,784.54 points. The Chinese Shanghai composite index too ended in the red at 2,583.52 points, down 4.19 percent from its previous week's close. And so was the Hang Seng of the Hong Kong Stock Exchange. It closed at 19,545.83 points, down 4.29 percent. European stocks ended in the red as investors dumped risky investments after Germany banned short selling of some financial instruments. London's FTSE was down 3.8 percent to close the week at 5,062.93 points. Its French peer CAC 40 was down 3.64 percent at 3,430.74 points while the German DAX closed at 5,829.25 points, down 03.76 percent. The turbulence across the world hit the US as well. Key indices fell sharply during the week and a last day revival could not erase the losses. Benchmark indices such as the Dow Jones industrial average fell 4.02 percent at 10,193.39 points, the Nasdaq lost 6.9 percent to close Friday at 2,229.04 points, and the Standard and Poor's 500 moved down 4.23 percent at 1,087.69 points.