Benchmark indices Sensex and Nifty ended almost flat on Friday in a muted trade as investors awaited financial results by leading corporates for further cues amid largely weak global markets.

In a volatile trade, the 30-share BSE Sensex edged up 22.71 points or 0.04 per cent to settle at 59,655.06 as 15 of its shares advanced and the rest declined. During the day, it hit a high of 59,781.36 and a low of 59,412.81.

The broader NSE Nifty ended at 17,624.05, showing a marginal dip of 0.40 points.

Among Sensex firms, ITC rose the most by 1.99 per cent, edging past HDFC to become the seventh largest valuable company on BSE with a market capitalisation of Rs 5,07,373.82 crore at the close.

HDFC slipped to eighth rank with a market cap of Rs 5,06,264.24 crore as its shares advanced 0.64 per cent.

Among others, Tata Consultancy Services, Wipro, Asian Paints, HCL Technologies, Kotak Mahindra Bank, Bajaj Finance, Infosys, Sun Pharma, Hindustan Unilever, Power Grid and HDFC Bank also posted gains.

Reliance Industries closed higher by 0.14 per cent ahead of the release of its financial results for the quarter and fiscal ending March 2023 post-market hours.

HCL Technologies climbed 1 per cent after the company on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore for the fourth quarter of 2022-23.

Tech Mahindra, Maruti, Tata Steel, UltraTech Cement, Tata Motors and ICICI Bank were among the laggards.

Vinod Nair, Head of Research at Geojit Financial Services said, "Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Weak signals of a softening job market and declining manufacturing activity in the US have raised fears of a possible recession."

Despite the RBI MPC’s unanimous decision to pause rates, its minutes revealed that its members continue to hold concerns about high inflation. However, the market received some support towards the closing bell from the IT and FMCG sectors, facilitating its recovery, Nair said.

"Markets remained in a consolidation mood and ended almost unchanged, in absence of any major trigger. After the flat start, Nifty drifted gradually lower however recovery in select heavyweights in the latter half pared all the losses," said Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

In the broader market, the BSE midcap gauge dipped 0.36 per cent and smallcap index declined 0.27 per cent.

Among indices, realty fell by 2.07 per cent, metal went lower by 1.03 per cent, auto declined 0.94 per cent, commodities went lower by 0.91 per cent, capital goods (0.61 per cent).

Energy, FMCG, healthcare, IT, telecommunication and teck were the gainers.

"Most global markets fell on Friday, extending losses into a third straight session as concerns over an economic slowdown were exacerbated by weak data, while hawkish signals from the Federal Reserve also rattled sentiment," said Deepak Jasani, Head of Retail Research, HDFC Securities.

In Asian markets, Seoul, Japan, Shanghai and Hong Kong ended lower.

European markets were trading on a mixed note. The US markets ended in the negative territory on Thursday.

Meanwhile, global oil benchmark Brent crude dipped 0.04 per cent to USD 81.07 per barrel.

Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 2,116.76 crore on Friday, according to exchange data.

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