Festive boost fades as markets face volatility
Indian stock markets closed lower on Friday, ending a six-day rally as weak international signals dampened trading activity. The Nifty index added 85 points across the week but dropped 311 points from its peak, reflecting heightened volatility after recent advances. Traders booked profits near the 25,800 level, pushing the benchmark down to 25,795.15 by the close.
Bank Nifty reached a record high before retreating 870 points from weekly highs, finishing at 57,699. Public sector banking shares drove gains earlier in the week following merger speculation and strong quarterly earnings. Precious metals experienced their steepest one-day decline in more than 10 years as the dollar strengthened.
Oil prices jumped after Washington and Brussels imposed fresh sanctions on Russian energy companies, raising concerns about tighter supplies. Analysts said investors should monitor progress in trade discussions between New Delhi and Washington. Strong holiday sales highlighted robust consumer spending supported by tax incentives.
