As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 367.25 points or 0.43% to 85,041.45. The Nifty 50 index lost 99.80 points or 0.38% to 26,042.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.18% and the S&P BSE Small-Cap index fell 0.34%.

The market breadth was negative. On the BSE, 1,749 shares rose and 2,449 shares fell. A total of 181 shares were unchanged.

Buzzing Index:

The Nifty IT index fell 1.03% to 38,572.30. The index dropped 2.32% in the past three trading sessions.

Coforge (down 3.75%), LTIMindtree (down 2.08%), Mphasis (down 1.41%), Tata Consultancy Services (down 1.21%), Tech Mahindra (down 1.1%), Persistent Systems (down 0.82%), HCL Technologies (down 0.74%), Wipro (down 0.63%), Infosys (down 0.43%) and Oracle Financial Services Software (down 0.13%) tumbled.

Stocks in Spotlight:

Panacea Biotec surged 13.75% after it received an award from the United Nations International Children's Emergency Fund (UNICEF) for the supply of its WHO pre-qualified pentavalent vaccine, Easyfive-TT, for 2023'2027.

Vikran Engineering rose 4.56% after securing an order worth Rs 459.20 crore from NTPC Renewable Energy for the engineering, procurement, and construction (EPC) of a 400 MW AC solar power project at Chitrakoot-1 in Uttar Pradesh.

Strides Pharma Science slipped 2.71% after its step-down subsidiary, Strides Pharma Inc. USA (SPI), received four observations from the USFDA following a routine inspection of its formulations facility in Chestnut Ridge, New York.

Apollo Micro Systems climbed 1.79% after the company received orders amounting to Rs 100.24 crore from a private company for the supply of Unmanned Aerial Systems.

NMDC advanced 1.34% after the company signed a Memorandum of Understanding (MoU) with the Colorado School of Mines, USA, to establish a framework for research collaboration in mining, mineral processing, metallurgy, and AI/ML in mining.

Ola Electric Mobility jumped 2.23% after its subsidiary, Ola Electric Technology, secured incentives worth Rs 366.78 crore under the Production Linked Incentive (PLI) scheme for automobiles and auto components (PLI-Auto) for FY25.

Lenskart Solutions shed 0.95%. The company said that its wholly owned subsidiary, Lenskart Solutions Pte. Ltd., Singapore, would invest 3 billion Korean Won for acquiring 123,945 preference shares or 29.24% of the share capital of iiNeer Corp., Ltd.

Dilip Buildcon rose 3.13% after the company announced that it has secured a letter of award (LOA) for a significant road construction project in Bihar.

Concord Control Systems fell 1.13%. The company, through its wholly owned subsidiary Advanced Rail Controls, secured an order worth Rs 56.58 crore from Indian Railways.

Sayaji Hotels shed 0.02%. The company said that it has entered into a 15-year agreement with SPJ Recreational Centre to manage and operate a new 5-star hotel in Takve Khurd, Taluka Maval, near Wet and Joy Park, Pune, Maharashtra.

Global Markets:

European markets remained closed on Friday on account of the Boxing Day holiday, while Asian shares ended mixed, with several regional exchanges also shut for the holiday.

Silver prices continued rising and hit another high after notching a record Wednesday. Spot silver rose more than 4% on Friday to reach an all-time high of $74.89 per ounce.

Silver has rallied over 159% year to date. Metal prices have soared this year amid shaky investor sentiment on riskier assets, as fears of an AI bubble and uncertainty over U.S. Fed rate cuts mount.

Meanwhile, core consumer prices in Tokyo rose 2.3% in December from a year earlier, according to government data Friday. The core CPI, which strips out volatile fresh food costs, remained above the Bank of Japan's 2% target, reinforcing the case for more interest rate hikes.

The latest reading was below the 2.8% increase in November. Tokyo's inflation numbers are widely considered to be a leading indicator of nationwide trends.

The Australia and Hong Kong markets were closed for the holiday.

U.S. equity futures ticked slightly higher in early Asian hours, after the S&P 500 closed at a new record for the second straight day on Wednesday stateside.

The broad market index advanced 0.32%, ending the session at 6,932.05. The Dow Jones Industrial Average gained 288.75 points, or 0.60%, and also posted a closing record of 48,731.16. The Nasdaq Composite advanced 0.22% and settled at 23,613.31.

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