The barometer index, the S&P BSE Sensex, was down 210.45 points or 0.27% to 79,032.73. The Nifty 50 index shed 39.90 points or 0.14% to 24,010.60.

The Sensex and Nifty clocked an all-time high of 79,671.58 and 24,174, respectively in morning trade.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index gained 0.41% and the S&P BSE Small-Cap index rallied 0.56%. The market breadth was positive.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.28% to 13.69.

Among the sectoral indices, the Nifty Oil & Gas index (up 1.68%), the Nifty Healthcare index (up 1.10%) and the Nifty PSU Bank index (up 0.88%) outperformed the Nifty 50 index.

Meanwhile, the Nifty Private Bank index (down 1.24%), the Nifty Bank index (down 0.89%) and the Nifty Financial Services index (up 0.87%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal rose 0.13% to 7.009 as compared with previous close 7.000.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3900, compared with its close of 83.4500 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement gained 0.26% to Rs 71,755.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 105.88.

The United States 10-year bond yield gained 0.59% to 4.314.

In the commodities market, Brent crude for August 2024 settlement added 57 cents or 0.67% to $85.83 a barrel.

Global Markets:

Markets in Europe and Asia advanced on Friday as investors look forward to U.S. core PCE data later today, which could solidify expectations of a Fed rate cut.

Tokyo consumer prices rose in June. While headline Consumer Price Index (CPI) inflation rose to 2.3% year-on-year in June, compared to 2.2% in May, core inflation print that excludes both fresh food and energy prices, grew to 1.8% in June from 1.7% in May.

US stock market ended with minor gains on Thursday as treasury yields eased ahead of the fresh inflation data. The Dow Jones Industrial Average gained 0.09%, while the S&P 500 rose 0.09%. The Nasdaq Composite ended 0.30%.

Alphabet shares rose 0.83% and Meta Platforms stock price gained 1.25%. Amazon shares rallied 2.19%, while Nvidia shares declined 1.90%.