Stock Market Today: Sensex, Nifty fall on profit booking
Key equity indices the Sensex and the Nifty ended lower on May 16 on profit booking in select heavyweights, including HDFC twins and Reliance Industries (RIL) amid mixed global cues as investors expect the deadlock over the US government’s borrowing limit to end soon.
US stock futures and European markets were lacklustre at the time of the closing of the domestic market ahead of the next round of talks of US lawmakers to raise the federal borrowing limit.
Sensex opened 128 points higher at 62,474.11 but fell 498 points in intraday trade on profit booking, in the absence of any positive trigger, before closing with a loss of 413 points, or 0.66 per cent, at 61,932.47 while the Nifty closed at 18,286.50, down 112 points, or 0.61 per cent.
Mid and smallcaps, however, outperformed the benchmarks, ending in the green. The BSE Midcap index rose 0.18 per cent while the Smallcap index ended with a gain of 0.12 per cent.
(More to come)
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