The benchmark equity indices ended Friday’s trading session in the muted territory. The NSE Nifty 50 ended 0.95 points lower to settle at 22,513.65, while the BSE Sensex gained just 20.58 points or 0.03% to 74,248.22. Bank Nifty index ended higher by 432.25 points or 0.90% to settle at 48,493.05.
The broader indices ended in mixed territory, with gain led by Small-cap and Large-cap stocks. Realty and Banks stocks outperformed among the other sectoral indices while IT and Media stocks shed.
Kotak Mahindra Bank, SBI Life Insurance, HDFC Bank, Bajaj Finserv, and HDFC Life Insurance, are the top gainers on NSE Nifty 50 index whereas top laggards include Grasim, UltraTech Cement, L&T, Bajaj Auto, and Bharti Airtel.
The Indian Volatility Index (India VIX) closed up by 1.38 %.
“Although the RBI policy meeting unfolded as anticipated, concerns over food inflation and warnings of a heat wave tampered sentiment. While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4FY24,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added, The global sentiment was dampened by the rise in oil prices and tensions in the Middle East. Investors remain attentive to upcoming US non-farm payroll and unemployment data, seeking clarity on the Federal Reserve’s future rate path.