On Friday, the BSE Sensex fell approximately 1.2% to close at 81,183.9, marking its lowest level in two weeks and continuing a four-session decline. The Nifty 50 also ended the day in the red, dropping by 1.17% to 24,852 points. Both indices experienced weekly losses, with the Sensex shedding 1.45% and the Nifty 50 losing 1.52%, breaking a three-week winning streak.

Investor sentiment was subdued as global markets awaited a crucial U.S. jobs report, which could influence the Federal Reserve's interest rate decisions. The State Bank of India (SBIN) led the losers, with its stock dropping 4.4% after Goldman Sachs downgraded its rating from "neutral" to "sell." The downgrade was due to concerns over rising headwinds to growth, margins, and credit costs.

The PSU Bank Index was notably weak, with all 12 constituents closing lower. The index tumbled 3.35% on Friday, leading to a weekly decline of 4.71%—the largest since early June. Analysts attribute this downturn to volatile earnings, lack of operating triggers, and market share losses to private sector banks.

The Nifty Midcap 50 and Nifty Small Cap 100 also faced declines, with the midcap index falling by 1.74% and the small-cap index dropping by 1.25%. In contrast, the Nifty Index showed varied returns over different periods, including a 3.59% gain in the last month and a 26.73% increase over the past year.

Top Gainers in the Nifty index included Asian Paints, Bajaj Finance, and JSW Steel, while the major losers were SBI, Bharat Petroleum Corporation, and ICICI Bank. The Bank Nifty also ended the day lower, with a weekly decline of 1.51%.

Looking ahead, market focus remains on the upcoming U.S. jobs report, which will provide insights into potential Federal Reserve interest rate moves. Recent data showed a decline in new jobless benefit applications, easing some concerns about the U.S. labor market.

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