The Nifty 50 index was down by 49.95 points at 25,355.35, while the Sensex was down 178.32 points to 83,061.15.

Benchmark indices Sensex and Nifty opened higher on Friday, tracking gains in banking stocks and strong cues from Wall Street. However, the markets soon turned flat as investors stayed cautious ahead of India’s trade deal negotiations with the U.S. Meanwhile, the biggest market-moving news was SEBI’s action against U.S.-based Jane Street for alleged market manipulation, barring it from accessing Indian securities markets. This regulatory move contributed to subdued sentiment, pushing stocks to lower levels.

Among individual stocks, Tata Group-owned Trent dropped over 9% after disappointing management commentary and a broker downgrade triggered selling pressure. In contrast, Sapphire Foods jumped 10%, emerging as a notable outperformer.

Broader market indices also remained subdued, with both mid-cap and small-cap indices rising under 0.20%, reflecting a cautious undertone across segments. As participants await clarity on global trade policy and local regulatory developments, market activity is likely to remain rangebound through the session.