FINAL TRADE: D-Street halts five-day winning run; Nifty ends at 22,420, Sensex falls 609 pts

Stock market today: Halting the five-day winning streak, domestic blue-chip indices Nifty50 and Sensex settled subdued on Friday as a slump in Bajaj Finance shares after a weak FY25 outlook dragged financials. The blue-chip NSE Nifty 50 lost 0.67 per cent, or 150.4 points, to settle at 22,419.95, while the BSE Sensex shed 0.82 per cent, or 609.28 points, to close at 73,730.16.

In the Nifty50 basket, Bajaj Finance, Bajaj Finserv, IndusInd Bank and Nestle India were among the laggards. Tech Mahindra, Divi's, LTIMindtree, Bajaj Auto and BPCL were the other major gainers.

"The unexpected surge of the US core PCE price index, accompanied by weaker-than-forecasted GDP growth and Treasury yield spikes, impacted market sentiments. Investors are concerned about the possibility of a looming recession in the US," Vinod Nair, Head of Research, Geojit Financial Services said.  

"Indian market lagged behind its Asian and European peers due to worries over lofty valuations and lacklustre Q4 earnings, fuelling expectations of downward revisions for FY25 earnings," he added.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank and ICICI Bank, closed with a gain of 293.9 points, or 0.61 per cent, at 48,201.05. Meanwhile, Nifty Midcap 100 and Nifty Smallcap 100 gauges gained 0.79 per cent and 0.56 per cent for the day, respectively.

Investors lost Rs 5,905.93 in wealth as the market capitalisation of BSE-listed companies declined to Rs 4,04,12,505.39 crore at the end of trade on Friday from Rs 4,04,18,411.32 the previous day, according to provisional exchange data.

Global Market 

European shares rose on Friday and looked set to end the week higher as investors cheered robust results from tech giants in the United States, while Thyssenkrupp was on course for its best day in 23 months on a divesture announcement.

The pan-European STOXX 600 index (.STOXX) started the session with a 0.6% increase by 0845 GMT.

The technology sector (.SX8P) drove most of the gains on the top index as investors took comfort from upbeat quarterly results from U.S. technology giants Microsoft (MSFT.O) and Alphabet (GOOGL.O).

(with agency inputs)

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