The Indian equity indices on Friday closed lower majorly dragged by financial services stocks as Bajaj Finserv released its results for Q4 FY2024. Sensex lost 609 points or 0.82% to close the day’s trading at 73,730.16. The Nifty 50 closed 150 points or 0.67% lower at 22,419.95. The gainers included Tech Mahindra, Divis Lab, LTIMindtree, Bajaj Auto, and BPCL. The Indian Volatility Index (India VIX) was up 1.77%. 

Flipping the trend, the Nifty Midcap 100 jumped 396 points or 0.79% to finish the session at 50,228.50, near its lifetime high of 50,684.50, which it touched on April 26. Nifty Bank closed the day’s trading 294 points lower at 48,201.05. 

On the sectoral front, financial services and banking stocks pushed the indices lower. In the broader indices, smallcap and midcap stocks closed in the green. 

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Capital markets regulator Sebi on Thursday put in place a framework to introduce the beta version of the T+0 trade settlement cycle on an optional basis.To begin with, this option will be available for a limited set of 25 scrips and with a limited number of brokers.This will be in addition to the existing T+1 settlement cycle in the equity cash market. The new framework will come into force with effect from March 28, the Securities and Exchange Board of India (Sebi) said in a circular.

“Pursuant to deliberations and approval of the Board, it has been decided to put in place a framework for the introduction of the Beta version of the T+0 settlement cycle on an optional basis in addition to the existing T+1 settlement cycle in the equity cash market, for a limited set of 25 scrips and with a limited number of brokers,” Sebi said.

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