Benchmark indices Sensex and Nifty 50 remained largely stable on Friday but recorded their second consecutive weekly decline. Losses in financial stocks impacted the indices, while gains in metal stocks, fueled by hopes of Chinese economic stimulus, provided some support.

Sensex dropped by 230.05 points to 81,381.36 at the end of the day, and the Nifty fell 34.20 points to 24,964.25. The Nifty Midcap 100 Index closed positively, gaining 276.85 points to 59,212.70, while the Nifty Bank Index decreased by 358.60 points to 51,172.30.

Consumer goods and auto stocks struggled, declining by 2%. The pharmaceutical and automotive sectors emerged as the top gainers, both advancing by 2%.

Trent, Kotak Bank, Mahindra & Mahindra, and HCL Technologies were the top gainers in the Nifty. Titan, Britannia, Tata Steel, SBI Life, and Nestle experienced the largest losses.

Companies led by Noel Tata, including Trent and Voltas, surged after his appointment as Chairman of Tata Trusts.

IT stocks were buoyed by TCS’s commentary, with HCL Technologies, Infosys, and Tech Mahindra each gaining 2%. However, TCS fell 2% to a three-month low after missing Q2 earnings estimates.

Metal stocks were among the top sectoral gainers on Nifty 50, with 11 out of 15 constituents trading higher during intraday trading.

After initial declines, metal stocks gained momentum following news of an upcoming briefing by the Chinese Finance Minister regarding further stimulus measures.

NALCO and NMDC were top gainers on the Metal index, each up 3%, while SAIL, JSPL, and Hindalco saw gains between 2% and 3%.

Aurionpro Solutions rose 3.5% after announcing the launch of its transaction banking platform in Saudi Arabia.

Adani Green Energy’s renewable energy arm ended 0.5% higher after reporting significant growth in operational capacity and energy sales for H1 FY25.

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