Sensex Ends Flat, Smallcap and Midcap Stocks Surge; HDFC Bank Drags Nifty Bank Lower

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Mumbai: The Indian equity markets concluded a volatile trading session with negligible movements in key indices on Friday. The Sensex closed marginally lower at 79,996, down 53 points, while the Nifty managed a modest gain of 21 points or 0.09% to settle at 24,323. The session saw significant activity in midcap and smallcap stocks, with the Nifty Midcap 100 index surging 0.83% to 57,089 and the Nifty Smallcap 100 index rising by 0.79% to 18,941.

The banking sector witnessed contrasting fortunes as HDFC Bank, a leading private lender, recorded a steep decline of 4.58% by the closing bell. This downturn notably impacted the Nifty Bank, which ended 0.83% lower. Among the gainers in the Sensex were Reliance Industries, SBI, NTPC, HUL, L&T, Nestle, Power Grid, ITC, JSW Steel, Wipro, Sun Pharma, Kotak Mahindra, and Bajaj Finance. Conversely, HDFC Bank, Titan, Tata Steel, M&M, IndusInd Bank, and UltraTech Cement faced losses during the day.

Sectoral performance showed a mixed trend, with PSU Banks, Pharma, FMCG, Metals, Energy, Infra, and PSE closing in positive territory, while Private Banks and Financial Services ended in the red.

Looking ahead, market sentiment remains cautious amid global economic indicators. The 10-year US Treasury yield declined as investors awaited crucial US jobs data due on Friday. Analysts suggest that weaker-than-expected data could bolster expectations of Federal Reserve interest rate cuts, potentially influencing market dynamics in the coming sessions.

The broader market sentiment reflects a balanced outlook, with investors closely monitoring economic signals both domestically and globally for future investment strategies.

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