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Closing Bell: Sensex, Nifty decline after hitting record highs; Nifty Bank at 37,812

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The 30-scrip Sensex closed lower at of 59,093, as it rose 514 points and the Nifty50 index surged 28 points to end at 17,660. The broader markets underperformed the frontliners closed a percent lower.

Closing Bell: Sensex, Nifty decline after hitting record highs; Nifty Bank at 37,812
The Indian equity benchmark indices scaled record highs during the session but retreated by the time the closing bell rang in the last session of the week. Both Sensex and Nifty closed lower Friday.
The 30-scrip Sensex closed lower at of 59,093, as it rose 514 points and the Nifty50 index surged 28 points to end at 17,660. The broader markets underperformed the frontliners closed a percent lower. The market breadth remained skewed towards decline as 3 stocks fell for every one that rose.
Among the 50 stocks on Nifty, Kotak Mahindra Bank, HDFC Bank, Eicher Motors, Bharti Airtel, and Maruti Suzuki lead the gains, as each scrip rose over 1 to 6 percent higher. Leading the losses were Tata Steel, Coal India, TCS, Hindalco, and SBI.
Among sectors on NSE, a strong rally was seen in banking, financial services, and media indices, whereas Nifty PSU Bank, Metal, IT, Pharma, and Realty closed the day in the red. Nifty Bank closed at a record closing high of 37,812.
Globally, shares steadied above three-week lows set in the previous session though they were heading for a weekly loss on China jitters and global growth concerns, while strong US retail sales data buoyed the dollar.
MSCI's world equity index gained 0.16 percent to 736.36 but was down 0.12 percent on the week. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15 percent. It was set to finish down 2.7 percent on the week, which would be its worst week in four. US stock futures were unchanged.
U.S. crude fell half a percent to $72.22 a barrel, and Brent crude dropped 0.41 percent to $75.36 per barrel. Gold recovered somewhat, with the spot price trading at $1,761 per ounce, up 0.45 percent after falling 2.3 percent on Thursday as higher yields hurt the non-interest-bearing metal.
With inputs from Reuters
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