Stock market today: Nifty 50, Sensex snap 3-day winning run amid weak global cues; mid, smallcaps outperform

Jun 10, 2024
stock-market-today:-nifty-50,-sensex-snap-3-day-winning-run-amid-weak-global-cues;-mid,-smallcaps-outperform

1 min read 10 Jun 2024, 03:48 PM IST Trade Now

Nishant Kumar

Stock market today: Nifty 50 closed 31 points, or 0.13 per cent, lower at 23,259.20, while the Sensex ended with a loss of 203 points, or 0.27 per cent, at 76,490.08.

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Stock market today: Indian stock market benchmarks – the Sensex and the Nifty 50 – snapped their three-day winning run on Monday, June 10, on profit booking at higher levels amid weak global cues.

With the Lok Sabha elections and government formations now complete, the focus shifts to global cues and market fundamentals.

Concerns over high valuations, delayed rate cuts, and a lack of fresh positive triggers continue to limit the market’s upside.

After opening higher, both the Sensex and the Nifty 50 hit their fresh record highs in intraday trade but eventually ended lower on profit booking, tracking weak global cues.

On Monday, major European markets witnessed a selloff, which also roiled sentiment in Asian markets. This followed French President Emmanuel Macron’s surprise announcement that the parliament would be dissolved and a fresh election would take place later this month.

“Gains by the far-right in voting for the European Parliament on Sunday prompted a bruised French President Emmanuel Macron to call a snap national election and added uncertainty to Europe’s future political direction,” reported Reuters.

Nifty 50 closed 31 points, or 0.13 per cent, lower at 23,259.20, while the Sensex ended with a loss of 203 points, or 0.27 per cent, at 76,490.08.

(More to come)

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Published: 10 Jun 2024, 03:32 PM IST

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