Wall Street Surges to New Highs While Indian Markets Consolidate

The Nifty closed nearly 200 points lower at 23,997 as broad‑based profit booking returned amid rising crude oil prices and muted Asian cues.

The index gapped down sharply, slipped below 23,800 intraday, but staged a strong rebound in the second half to limit weekly losses.

IT and Pharma provided relative support, while metals, PSU banks, and realty stocks lagged. Mid- and small-caps declined as market breadth weakened. The rupee hit a fresh record low, pressured by FII outflows and elevated oil prices.

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