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

Sensex closed 118 points, or 0.16 per cent, lower at 72,987.03, while the Nifty 50 ended 17 points, or 0.08 per cent, lower at 22,200.55.

The selloff was, however, not widespread as the mid and smallcap indices ended with healthy gains. The BSE Midcap index settled 0.60 per cent higher, and the BSE Smallcap index rose 0.96 per cent.

Mixed global cues failed to boost the domestic market sentiment, which has been weak lately amid significant outflow of foreign capital in the run-up to the Lok Sabha election 2024 outcome.

Data from NSDL showed that this month, foreign portfolio investors (FPIs) sold Indian equities worth ₹25,280 crore up to May 14.

US inflation print for April is expected to be out today. US CPI is a significant macro number from the market perspective, influencing the sentiment about the US Fed’s moves on the policy front.

Even though inflation remains sticky, markets expect the Fed to cut rates later this year.

16 stocks ended in the red in the 30-share pack Sensex index, with shares of Asian Paints, Tata Motors, and HDFC Bank falling up to 2 per cent.

(More to come)

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Published: 15 May 2024, 03:31 PM IST