New Delhi, July 28 -- On Friday, Nifty 50 declined 0.9%, closing at 24,837, its lowest level in a month, as persistent selling in IT and midcap stocks dragged the index lower. This marked the fourth consecutive weekly loss for the benchmark, making it the longest losing streak of the year so far.

Market sentiment remained weak throughout the session, with the index failing to hold above its key support levels. IT stocks were the major laggards, reflecting concerns over global demand and margin pressures, while midcaps saw broad-based profit booking. On the other hand, certain PSU Banks and Pharma names showed relative strength, offering some cushion to the broader market.

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