Sensex, Nifty fall after hitting fresh intra-day highs. Street's betting on large caps | Stock Market News
Indian stock markets traded lower today as investors opted for profit booking after recent strong gains. Both the Sensex and Nifty opened flat but gradually lost momentum due to selling pressure in major heavyweight stocks. Market sentiment turned cautious as global cues remained mixed, with concerns over US interest rates and weak Asian market trends influencing domestic trading. Financials, IT, and metal stocks saw the most selling, while select defensives such as FMCG and pharma offered minor support. Traders also reacted to upcoming macroeconomic data releases and corporate earnings, prompting a wait-and-watch mood. Midcap and small-cap indices also witnessed mild declines after sharp rallies in previous sessions. Overall, the market stayed range-bound, reflecting investor caution ahead of key global and domestic events. Analysts expect short-term volatility but maintain a positive long-term outlook for Indian equities, supported by steady economic growth and strong corporate fundamentals.
The Key points
- Benchmark indices slipped due to widespread profit booking.
- Sensex and Nifty traded in a narrow, downward-tilting range.
- Global cues stayed mixed, affecting investor sentiment.
- Concerns over US rate direction added to caution.
- Financial and IT stocks led the decline.
- FMCG and pharma counters provided limited support.
- Midcap and small-cap segments also saw mild selling.
- Traders awaited key economic data releases.
- Volatility increased as markets followed global trends.
- Analysts remain optimistic about long-term equity prospects.
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