Nifty 50 Closes Higher At 24056 As DII Buying Offsets FII Selling

Indian equity markets concluded Friday's session with a mixed performance as investors exercised caution ahead of the weekend. The Nifty 50 index managed to close at 24056, recording a modest gain of 34.35 points or 0.14%. Similarly, the Nifty Bank index ended the day at 58177.05, reflecting a marginal uptick of 26.7 points or 0.05%.

The divergence in market performance was largely driven by contrasting institutional flows. Foreign Institutional Investors (FIIs) remained net sellers, offloading Indian equities worth INR 1,250 crores, which weighed on broader sentiment. However, Domestic Institutional Investors (DIIs) acted as a stabilizing force, recording net purchases of INR 980 crores, which helped prevent a deeper slide in benchmark indices.

While the headline indices showed resilience, the broader market faced selling pressure. The Nifty Midcap 100 index declined by 339.75 points, or 0.55%, to settle at 61795.5. Additionally, the Nifty IT sector struggled, closing down 235.85 points or 0.86%. Conversely, the auto and public sector banking indices demonstrated relative strength, ending the session in positive territory despite the overall cautious market environment.