Indian shares closed slightly lower on Friday after hitting record highs in the previous session. Traders cashed in on profits as international crude prices continued their upward trend, and investors awaited a critical U.S. inflation report anticipated later in the day for guidance on potential interest rate cuts.
The benchmark S&P BSE Sensex surged to a high of 79,671 before reversing to close the session down by 210.45 points, or 0.27%, at 79,032.73. Similarly, the broader NSE Nifty index reached a peak of 24,174 before ending at 24,010.60, marking a decline of 33.90 points, or 0.14%, from its previous close.
Key decliners in the Nifty pack included IndusInd Bank, Kotak Mahindra Bank, Bharti Airtel, ICICI Bank, and Axis Bank, with losses ranging between 1-2%. On the flip side, SBI Life, Hero MotoCorp, Reliance Industries, ONGC, and Dr. Reddy's Laboratories saw gains of 2-3%.
Mid-cap and small-cap stocks were in demand, as evidenced by the BSE mid-cap and small-cap indices rising by 0.4% and 0.6%, respectively.
Ambuja Cements rose by 1.4% following board approval of the merger with Adani Cementation. Additionally, BHEL advanced by 1.2% after securing an order worth Rs 13,000 crore for the construction of a 1600 MW thermal power project in Jharkhand.
