After a flat start, Indian stocks experienced a slight uptick on Friday morning, propelling benchmark indexes Sensex and Nifty50 to new record highs. However, as the day progressed, the indexes reversed course, dipping lower as investors opted to take profits in the absence of significant market triggers.
The BSE benchmark Sensex, which reached a new all-time high of 85,978.25, closed the day down by 264.27 points or 0.31%, settling at 85,571.85. Similarly, the broader Nifty50 index of the National Stock Exchange finished with a loss of 37.10 points or 0.14%, ending at 26,178.95 after hitting a new high of 26,277.35.
Power Grid Corporation declined by approximately 3%. Other significant losers included ICICI Bank, Bharti Airtel, HDFC Bank, Kotak Bank, and Larsen & Toubro, which fell between 1.4% and 2%. Adani Ports ended the day down 1.1%, while both Larsen & Toubro and Hind Unilever closed marginally lower.
Additionally, HeroMotoCorp, Ultratech Cement, Tata Consumer Products, and Nestle Industries finished the day weaker.
On the upside, Sun Pharmaceutical Industries saw an increase of about 2.7%, and Reliance Industries, an index heavyweight, gained 1.72%. Other gainers included Titan, HCL Technologies, Asian Paints, NTPC, IndusInd Bank, Tata Steel, Maruti Suzuki, Tata Consultancy Services, and Infosys, with gains ranging from 0.4% to 1.5%.
Notably, BPCL surged approximately 6.25%. Cipla rose by 3.25%, and Divi's Laboratories ended up by 2.4%. Eicher Motors, Grasim Industries, Hindalco, and Apollo Hospitals Enterprises advanced between 1.1% and 1.4%.
Shares of Zee Media Corporation soared 10% following the company's board approval for the issuance of up to 13.33 crore warrants worth Rs 200 crore.
Market breadth was neutral. On the BSE, 1,979 stocks closed higher, while 1,957 stocks ended lower. Additionally, 124 stocks remained flat.
