March 24 (Reuters) -Australian shares fell for a second straight session on Friday and were set for a seventh straight weekly loss, with financials dragging the bourse, while payments firm Block Inc led losses after a short seller report.

The S&P/ASX 200 index .AXJO fell 0.5% to 6,934.10 by 2347 GMT. The benchmark has slipped 0.9% this week.

ASX-listed shares of Block Inc SQ2.AX plunged 15.2%, leading declines on the bourse after Hindenburg Research alleged that the company overstated its user numbers and understated its customer acquisition costs.

Financials .AXFJ fell 1.1% and were set for a fourth straight weekly loss, with the 'Big Four' banks dipping between 0.4% and 1.8%.

Energy stocks .AXEJ dropped 0.9% after oil prices fell. O/R

Santos STO.AX and Woodside Energy WDS.AX fell 1.3% and 1.4%, respectively.

On the other hand, gold stocks .AXGD advanced 0.9% after bullion prices extended gains to a second straight session. For the week, they have risen 6.7% so far, set for their best week since Jan. 6. GOL

Newcrest Mining NCM.AX and Northern Star Resources NST.AX rose 0.8% and 0.6%, respectively.

Local miners .AXMM climbed 0.3%, with Fortescue Metals Group FMG.AX adding 1%.

Separately, aged-care operator Estia Health Ltd EHE.AX received a non-binding buyout proposal from Bain Capital for A$775.1 million ($517.77 million). Shares jumped 15.8% after the announcement.

IPH Ltd IPH.AX said it has established new network infrastructure and restored key system functionality, a week after reporting a data breach that affected a portion of its IT systems. Its shares were down 0.1%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2% to 11,575.35.

($1 = 1.4970 Australian dollars)

Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich

For more information on DIARIES & DATA: U.S. earnings diary RESF/US Wall Street Week Ahead .N/O Global Economy Week Ahead DATA/ ................................................................ For latest top breaking news across all markets NEWS1