Indian Stock Market Closes Flat After Touching Fresh Record Highs

Indian Stock Market Closes Flat After Touching Fresh Record Highs/ANI

Dil Bar Irshad | May 27, 2024 | 04:11 PM IST | Breaking News | Follow on Google News

Indian Stock Market Closes Flat After Touching Fresh Record Highs

Indian Stock Market Closes Flat After Touching Fresh Record Highs

May 27: Indian stock market benchmarks, the Nifty 50 and the Sensex, closed flat today after reaching their all-time highs in intraday trade. Both indices, after opening higher, surged to record levels, with the Sensex hitting 76,009.68 and the Nifty 50 reaching 23,110.80 during the session. However, profit booking at higher levels led to mild losses by the end of the trading day.

The Sensex closed the day 20 points, or 0.03 per cent, lower at 75,390.50, while the Nifty 50 ended 25 points, or 0.11 per cent, down at 22,932.45.

Heavyweight stocks like Reliance Industries, ITC, and Mahindra weighed down the Nifty 50, while HDFC Bank, Axis Bank, and Larsen & Toubro provided the strongest support to the index. Of the 50 stocks in the Nifty index, 29 ended in the green.

The market saw a notable increase in volatility, with India’s VIX surging nearly 7 per cent to 23.19. The volatility index has risen over 80 per cent in May.

In contrast, mid and small-cap stocks outperformed the benchmarks, with the Nifty Midcap 100 index rising by 0.64 per cent and the Nifty Smallcap 100 index jumping by 0.81 per cent.

(inputs from Mint)

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.