Indian equities slip as Nifty 50 closes down 0.39%, global markets mixed

Indian equity benchmarks closed lower on Friday, with the Nifty 50 settling at 22,600, down 87.65 points (about 0.39%), and the Sensex finishing at 73,123.83, down 125.56 points (0.17%). The indices had earlier given up morning gains but recovered some ground before the final settlement.

US equity futures traded lower, with the S&P 500 futures down 0.52% and Euro Stoxx 50 futures down 0.31% during Asian trading hours. In the United States, the S&P 500 fell 0.5% and the Dow Jones Industrial Average lost 1.2%, while the Nasdaq 100 was largely unchanged.

Asian markets posted mixed results after a volatile week. Japan's Nikkei 225 slipped 0.45% and South Korea's Kospi fell 1%, while the Topix rose 0.32% and the Kosdaq dropped 1.82%. Hong Kong's Hang Seng index futures indicated a flat opening.

Gold prices steadied around $4,000 an ounce after a sharp weekly decline, with spot gold at $3,993.20 per ounce in Singapore. Silver rose 0.5% to $54.12 per ounce. Oil prices edged lower, with Brent crude falling below $116 a barrel and West Texas Intermediate trading near $102.

Corporate earnings highlighted strong profit growth for several firms. IDFC First Bank reported a net profit of Rs 1,045 crore, up from Rs 352 crore a year earlier. Kotak Mahindra Bank posted a net profit of Rs 4,212 crore, a 29.5% year-on-year increase. Tata Motors posted a net profit of Rs 2,138 crore, reversing a loss from the previous year.

In other corporate news, Adani Enterprises announced a phased expansion of international flight operations at Navi Mumbai Airport, and JK Maxx Paints disclosed plans to set up a new water-based paint plant in Telangana with an estimated capital cost of Rs 130 crore.

Futures and options data showed Nifty October futures down 0.54% at 22,589, with the maximum call open interest at 24,000 contracts and the maximum put open interest at 21,500 contracts for the October 27 expiry.