Indian stock markets declined on Friday, ending their six-day winning streak, as weakness in banking and consumer stocks impacted investor sentiment. The NSE Nifty 50 fell 96 points to 25,795 and the S&P BSE Sensex dropped 345 points to 84,212.

Market Performance

Despite the daily decline, both benchmarks achieved their fourth straight weekly gain, with Nifty gaining 0.3% for the week. Banking stocks underperformed with Nifty Bank declining 379 points to 57,700.

Sector-wise Performance

Several key sectors and stocks contributed to the market's downturn:

Metal stocks gained as aluminium prices rose globally. Hindalco led the gainers, alongside Shriram Finance, Infosys, and Bajaj Finserv. UltraTech Cement, ICICI Bank, Adani Ports, and Eicher Motors were among the top losers.

Corporate Updates

Cipla

Cipla experienced profit-booking following its agreement with Eli Lilly for a weight-loss drug.

Hindustan Unilever

Hindustan Unilever fell 3% amid concerns over muted growth.

Defence Stocks

Defence stocks rose after the Defence Acquisition Council approved procurements worth ₹79,000 crore.

Market Outlook

Market participants are awaiting US inflation data and monitoring potential Federal Reserve rate decisions. The market's performance highlights its sensitivity to various factors, including sector-specific developments and global economic indicators.

As the Indian stock market navigates through these dynamics, investors may want to remain cautious and watch for further developments that could influence market trends in the coming sessions.

Indian stock markets continued their upward momentum for the fourth consecutive session, with key indices posting significant gains driven by strong performances from heavyweight stocks.

Market Performance

The BSE Sensex rose 411.18 points (0.49%) to close at 84,363.37, while the Nifty gained 133.30 points (0.52%) to settle at 25,843.15. This rally marks a positive trend in the Indian equity markets, reflecting investor confidence and robust market sentiment.

Key Drivers

The market's upward trajectory was primarily fueled by the strong performance of two heavyweight stocks:

1. Reliance Industries: The conglomerate's shares saw significant gains following its earnings results.
2. HDFC Bank: The private sector lender also contributed to the market's rise on the back of its financial performance.

Sector-wise Impact

While the overall market sentiment was positive, there were some mixed movements across sectors:

• Oil & Gas and Banking: These sectors likely saw positive momentum, given the strong performance of Reliance Industries and HDFC Bank.
• Banking Sector Divergence: Despite HDFC Bank's positive contribution, profit-taking in ICICI Bank shares limited broader market gains, indicating some divergence within the banking sector.

Market Breadth

The rally in the Sensex and Nifty, coupled with the mixed performance across different stocks, suggests a selective buying interest in the market. Investors appear to be focusing on companies with strong fundamental performance, as evidenced by the post-earnings rally in specific stocks.

Investor Sentiment

The continued upward movement for the fourth consecutive session indicates growing investor confidence in the Indian equity markets. This positive sentiment may be attributed to various factors, including:

1. Strong corporate earnings from market leaders
2. Positive global cues
3. Domestic economic indicators

Looking Ahead

While the market has shown strong performance, investors should remain cautious and monitor several factors:

1. Upcoming corporate earnings reports
2. Global economic developments
3. Domestic policy announcements
4. Sectoral trends and rotations

As always, it's advisable for investors to conduct thorough research and consider their risk appetite before making investment decisions in this dynamic market environment.