Indian Markets Close Mixed as Crude Price Decline Fails to Offset IT Weakness

Indian equity markets closed in mixed fashion on Friday, with the Nifty ending higher and the Sensex dipping slightly. Weakness in IT and Tata Group stocks offset gains from lower crude oil prices. The National Stock Exchange's mega IPO was fully subscribed, diverting market liquidity.

The BSE Sensex dipped 19.63 points to settle at 74,294.96, while the NSE Nifty rallied for the third day, closing 75.80 points higher at 23,346.40. Among the 30 Sensex firms, Tata Consultancy Services tanked 4.33 per cent.

Brent crude oil prices declined 1.35 per cent to USD 103.4 per barrel, offering some relief from inflation and import bill concerns. Foreign Institutional Investors offloaded equities worth Rs 3,208.76 crore on Thursday.