The Indian stock market closed lower on Friday and on a weekly basis, the Nifty and the Sensex extended their losses amid weak global cues and broad-based weakness. At the closing bell, Sensex closed 424.90 points, or 0.56 per cent, down at 75,311.06 while the Nifty shed 117.25 points, or 0.51 per cent, to close at 22,795.90.