Markets Slip for Second Week, But Midcaps and Banks Show Strength

The Indian benchmark indices fell for the second-straight week amid heightened volatility and global cues.

Sensex ended the day with a decline of 182 pts to settle at 81,451, while Nifty fell by 83 points to close at 24,751. On the broader markets front, Nifty Midcap 100 index surged 1%, denoting a buying interest for mid-sized companies. Nifty Bank surged 1% during the week, with 204-point gain on Friday to close at 55,750.

Market breadth remained muted as the NSE advance-decline ratio stood at 1:1. About 35 stocks in the Nifty ended the week in red. ITC and UltraTech Cement remained the worst performers as they faced intense pressure amid sectoral rotation and valuation concerns. Trent, IndusInd Bank, Adani Ports, and State Bank of India were the top gainers.

On the midcap front, Cummins India led the pack after posting strong Q4 results, while Life Insurance Corporation (LIC), Strides Pharma, NBCC, and BSE witnessed a significant rally.

Today’s session saw heightened volatility driven by mixed global signals and sector-specific earnings. Suzlon Energy shares surged by 9% after the renewable energy provider posted strong quarterly earnings.