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Benchmarks climb as banks jump, Nifty reclaims 21,750; VIX dips below 16
The domestic stock market settled with marginal gains on Friday, reflecting a cautious approach among investors awaiting further market triggers. The Nifty 50 navigated above the 21,750 mark after fluctuating between gains and losses during the day. While banks stocks bounced, metals and oil & gas stocks saw selling pressure. However, mid- and small-cap shares tumbled, illustrating concerns about their elevated valuations. The market's cautious sentiment is particularly notable in anticipation of upcoming releases of inflation data from the US, UK, and India. Additionally, the gradual rise of the US 10-year yield has contributed to a lack of confidence in the market. This uncertainty is linked to worries about potential delays in rate cuts by the US Federal Reserve.