Last Trade: Sensex down 241 points; The Nifty ends at 23,440 as the market conditions turn sour

Indian equity indices reversed early gains, with the Sensex down over 200 points and the Nify50 falling below 23,440 in midday trade on Friday. Weakness in sectors such as banking, energy, and FMCG weighed on the indices, dragging on broader market sentiment.

While many sectors traded at a loss, IT stocks bucked the trend, extending gains. This comes after IT major TCS met its quarterly profit estimates, boosting investor confidence in the technology space.

The broader market also faced selling pressure, with mid-cap and small-cap indices trailing earlier indicators in the red. Investors are waiting for key global indicators and domestic economic data to gauge the direction of the market in the coming sessions.