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Market Update Today: The Nifty trades around 23,636, down 0.1 per cent at 1:25 pm, after touching an intraday high of 23,859 earlier in the session.
Stock Market Today, May 21.
Market Update Today: The domestic equity market erased early gains and slipped into negative territory by afternoon trade on Thursday, weighed down by weakness in banking and financial stocks. However, broader markets continued to show resilience.
The Nifty was trading around 23,636, down 0.1 per cent at 1:25 pm, after touching an intraday high of 23,859 earlier in the session. The Sensex also turned lower by 210 points at 75,115, falling over 830 points from the day’s high of 75,945 to trade after a volatile trading session. Profit booking in heavyweight private banks and financial stocks dragged the benchmarks lower despite strength in select pockets of the market.
The Nifty Bank index declined 0.53 per cent, while Nifty Financial Services slipped 0.50 per cent. Private banking stocks remained under pressure, with the Nifty Private Bank index falling 0.58 per cent. IT and FMCG stocks also traded weak, limiting the market’s upside.
However, broader markets continued to outperform the frontline indices. The Nifty Smallcap 100 rose 0.54 per cent, while the Nifty Smallcap 250 gained 0.67 per cent, indicating sustained risk appetite in the broader market space. The Nifty Microcap 250 also advanced 0.75 per cent.
Among sectors, Nifty Cement emerged as the top gainer, surging 2.26 per cent, while Realty stocks remained strong with the Nifty Realty index up 1.11 per cent. Healthcare, pharma, chemicals and PSU banks also traded in positive territory.
Volatility remained subdued despite the intraday reversal, with India VIX falling 2.53 per cent to 17.97, signalling that traders are not yet pricing in major near-term panic.
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