As per provisional closing data, the barometer index, the S&P BSE Sensex was down 230.05 points or 0.28% to 81,381.36. The Nifty 50 index lost 34.20 points or 0.14% to 24,964.25.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.44% and the S&P BSE Small-Cap index added 0.44%.

The market breadth was positive. On the BSE, 2,142 shares rose and 1,746 shares fell. A total of 123 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.24% to 13.33.

Buzzing Index:

Nifty Bank index declined 0.70% to 51,172.30. The index advanced 1.03% in the past trading session.

ICICI Bank (down 1.62%), Bank of Baroda (down 1.46%), IDFC First Bank (down 1.18%), AU Small Finance Bank (down 1.14%), Axis Bank (down 0.87%), HDFC Bank (down 0.66%), IndusInd Bank (down 0.63%), Canara Bank (down 0.09%) declined.

On the other hand, Punjab National Bank (up 1.13%), Federal Bank (up 1.02%) and Kotak Mahindra Bank (up 0.45%) edged higher.

Stocks in Spotlight:

Tata Consultancy Services (TCS) slipped 1.84% after the IT major's consolidated net profit declined 1.09% to Rs 11,909 crore in Q2 FY25 as against Rs 12,040 crore reported in Q1 FY25. However, revenue from operations grew by 2.63% quarter on quarter (QoQ) to Rs 64,259 crore in second quarter of FY25.

Tata Elxsi slipped 1.19%. The design led technology service provider reported 14.7% rise in net profit to Rs 229.43 crore on 8.32% increase in revenue from operations to Rs 955.09 crore in Q2 FY25 over Q2 FY24.

Indian Renewable Energy Development of India (IREDA) declined 2.70%. The company reported standalone net profit of Rs 387.75 crore in Q2 FY25, registering a growth of 36.18% as agaisnt Rs 284.73 crore posted in Q2 FY24. Revenue from operations increased 38.49% year on year (YoY) to Rs 1,629.55 crore in the quarter ended 30 September 2024.

Den Networks ended flat. The cable TV distributor reported 13.94% increase in consolidated net profit to Rs 52.05 crore in Q2 FY25 as against 45.68 crore posted in Q2 FY24. Revenue from operations fell 9.95% year on year (YoY) to Rs 249.08 crore in Q2 FY25.

Bandhan Bank zoomed 11.56% after Reserve Bank of India (RBI) granted approval for the appointment of Partha Pratim Sengupta as managing director & chief executive officer (MD& CEO) of the bank.

Menwhile, the bank said that forensic audit related to its insurance claims to the national credit guarantee trustee company (NCGTC) under the credit guarantee fund for micro units (CGFMU) and emergency credit line guarantee scheme (ECLGS) has been completed. Bank received Rs 314.68 crore from NCGTC for loan defaults under the CGFMU scheme. This payout is part of larger claim of Rs 1,231.29 crore assessed by NCGTC for defaults on loan disbursed in FY 2020-21.

In addition to the above, the bank had raised a claim of approx. Rs 508 crore to NCGTC under the ECLGS scheme so far, out of which an amount of Rs 161.13 crore had been settled by NCGTC. The remaining amount of approx. Rs 347 crore was kept on hold, pending the outcome of the forensic audit. As the audit is now completed, NCGTC has allowed to review and submit a fresh claim to NCGTC for its consideration,' the bank stated in exchange filing.

Mazagon Dock lost 1.33%. The ship building company announced that it has received a purchase order worth Rs 121.67 crore from Maharashtra State Power Generation Company (MAHAGENCO) infrasecure project.

Ashoka Buildcon rallied 2.99% after the company announced that it has been declared as the lowest (L-1) bidder by Brihanmumbai Municipal Corporation (BMC) for a project worth Rs 918 crore.

Oriental Rail Infrastructure gained 3.24% after the company secured an order worth Rs 1.58 crore from North Eastern Railways (NER) at Gorakhpur, Indian Railways.

Ahluwalia Contracts (India) slipped 1.61%. The company said that it has secured a construction order from DLF City Centre worth Rs 1,094.67 crore.

Bondada Engineering rose 1.79% after the company said that it has received letter of award (LoA) from Maharashtra State Power Generation Company (MAHAGENCO) for bulk work orders aggregating to Rs 1,132.25 crore.

Arkade Developers added 1.89% after the company's consolidated net profit zoomed 359.47% to Rs 30.22 crore in Q1 FY25 as against Rs 6.58 crore posted in Q1 FY24. Revenue from operations surged by 102.98% year on year to Rs 125.38 crore in the quarter ended 30 June 2024.

Raghav Productivity Enhancers soared 10.02% after the company's board meeting scheduled on 18 October 2024 to consider and approve the proposal for issue of bonus equity share.

Global Markets:

Most European stocks declined on Friday as assess U.K. gross domestic product (GDP) figures and look ahead to highly anticipated fiscal stimulus from China.

Britain economy rose by 0.2% in monthly terms in August, according to figures from the Office for National Statistics. Britain's economy grew in August after two consecutive months of stagnation,

Asian stocks ended mixed on Friday. The Bank of Korea (BoK) lowered its benchmark rate by 25 basis points to 3.25%, marking its first rate reduction in over four years. The move signaled a shift away from its restrictive monetary policy stance in response to slowing economic growth and easing inflation.

While South Korean stocks rallied, China's markets retreated as investors cautiously awaited policy announcements from a scheduled finance ministry press conference. Hong Kong's markets were closed for a holiday.

In the US, stocks ended slightly lower on Thursday as hotter-than-expected consumer inflation data dampened investor sentiment. The S&P 500, NASDAQ Composite, and Dow Jones Industrial Average each declined by less than 0.25%.

Focus shifted to the upcoming third-quarter earnings season, which was set to kick off later that day. Investors were also eagerly awaiting the unveiling of Tesla's robotaxi and the release of producer price index (PPI) inflation data, both of which were expected to provide further insights into the US economy.

Headline US consumer price index (CPI) inflation eased slightly in September, falling from 2.5% to 2.4% year-over-year. However, core CPI inflation, which excludes volatile food and energy prices, rose to 3.3% from 3.2%.

Additionally, initial jobless claims in the US unexpectedly increased for the week ending October 4, reaching 258,000. This represented the highest level of new jobless claims since June 2023.

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