Mkts slip as hopes of US Fed rate cut fade

Domestic equity benchmarks closed marginally lower on Friday due to profit booking after US jobs data dampened hopes of an imminent rate cut, but still logged weekly gains on improving earnings outlook.

- REUTERS

The Nifty 50 fell 0.47 per cent to 26,068.15, while the BSE Sensex lost 0.47 per cent to 85,231.92 on the day, having approached record high levels in the previous session. The Nifty and Sensex rose about 0.6 percent and 0.8 percent each this week, settling less than 0.9 per cent below their September 2024 all-time highs.

Seven of the 16 major sectors logged weekly gains, with IT index adding 1.6 per cent, led by a 2.8 per cent rise in Infosys on a ₹18,000 crore share buyback, which began on Thursday.