The Indian stock market's three-day rally came to a halt on Friday as investors booked profits at higher levels, leading to a decline in the benchmark indices. Dragged by losses in heavyweight IT, FMCG, and private banking stocks, the market closed in the red despite a positive showing from the broader markets.
The S&P BSE Sensex snapped its winning streak, falling 387.73 points (0.47%) to settle at 82,626.23. The NSE Nifty 50 also retreated, dropping 96.55 points (0.38%) to close the week at 25,327.05.
Key Market Highlights
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Sensex: Closed at 82,626.23, down by 388 points.
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Nifty 50: Ended the session below the 25,350 mark.
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Market Sentiment: The session was marked by profit-taking after the recent rally. Despite the fall in headline indices, the overall market breadth remained positive, with more shares advancing than declining.
Top Gainers and Losers
Gains in Adani Group stocks and PSU banks were unable to offset losses in the IT and financial sectors.
| Top Gainers |
Top Losers |
| Adani Enterprises |
HCL Technologies |
| Adani Ports |
ICICI Bank |
| State Bank of India (SBI) |
Trent |
| SBI Life Insurance |
Titan Company |
| Bharti Airtel |
Mahindra & Mahindra |
Sectoral Performance
It was a day of mixed sectoral performance, with PSU banks outperforming while IT and FMCG sectors lagged.
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Top Gainer: The Nifty PSU Bank index was the standout performer, closing with a gain of 1.28%. The Nifty Metal and Pharma indices also ended in the green.
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Top Losers: The Nifty IT, Nifty FMCG, Nifty Auto, and Nifty Private Bank indices all settled lower, declining by up to 0.65%.
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Broader Markets: The broader markets showed resilience, bucking the trend of the benchmark indices. The Nifty Midcap 100 and Nifty Smallcap 100 indices ended with marginal gains.
Major News and Stock-Specific Action
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Adani Enterprises Surges on SEBI Clean Chit: The day's biggest news was the surge in Adani Enterprises, which became the top Nifty 50 gainer by rallying 5.25%. The sharp rise came after the market regulator, SEBI, cleared the Adani Group of stock manipulation allegations that had been levelled by U.S. short-seller Hindenburg Research.
Global Market Summary
Global markets took a breather after a strong week that saw Wall Street hit fresh record highs.
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Global Stocks: European stocks edged slightly higher, while Asian markets closed with losses as investors paused to assess the recent rally. U.S. stock futures also traded with a slight negative bias.
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Currencies & Commodities: Gold prices edged up after settling lower in the previous session. The Indian rupee appreciated by 9 paise to close at 88.11 against the U.S. dollar.