India’s Nifty 50 index ended a choppy Friday virtually flat, slipping around 0.04% in provisional trade as investors paused near record highs and awaited key macro data. Profit-booking in select heavyweights offset strength in banking and financial names, while broader indices and sectoral moves signalled a mildly risk-off tone.
After a strong week that pushed benchmarks into record territory, Indian equities cooled off, with the Nifty 50 provisionally closing about 0.04% lower around the 26,200 mark. The intraday range remained tight as traders largely chose to protect recent gains instead of extending fresh long positions ahead of domestic GDP data and global cues.
Banking and select large-cap financial stocks outperformed, helping the index hold near its lifetime highs even as profit-booking hit sectors such as oil & gas, realty, auto and consumer durables. Market breadth stayed slightly negative in the broader space, with smallcaps lagging midcaps, underlining a cautious shift away from high-beta pockets after a sharp rally.
Key highlights
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Nifty 50 provisionally ends around 0.04% lower near 26,200 after narrow-range trade.
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Consolidation comes after fresh record highs earlier in the week, prompting profit-booking.
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Bank and financial stocks outperform; oil & gas, realty, auto and consumer durables under pressure.
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Broader markets mixed, with smallcaps trailing midcaps on a day of subdued volumes.
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Investors eye upcoming GDP data and global signals to gauge the next leg of the market trend.
Sources: NSE provisional closing data; Business Standard; The Hindu BusinessLine; India Today; Financial Express; Moneycontrol; NDTV Profit; The New Indian Express.