Stock-specific rally, Sensex-Nifty down on profit-booking, Midcap-Smallcap at all-time high

Stock market closed: Sensex and Nifty closed with losses today amid profit-booking in largecap, banking, financial and telecom stocks as well as global challenges. It fell today after registering improvement in five trading sessions.

Sensex fell 609.28 points to 73730.16 and Nifty fell 26.70 points to 22543.65. A total of 1993 shares closed up on BSE, while 1788 shares closed down. In which 252 shares closed at the highest level of the year and the lowest level of 16 years.

Rise in midcap-smallcap stocks

PSU midcap, smallcap shares hit all-time high today due to rally in smallcap stocks. Apart from this, Metal, Capital Goods and Consumer Durables indices also reached historical highs. Stocks including HUDCO, NLC India, Kirloskar India were the top gainers today, while stocks including Bajaj Finance, KPI Green, Spark were the top gainers.

market sentiment positive

According to market experts, midcap and smallcap may move ahead rapidly in the coming week. Overall the sentiment is positive. The market has remained bullish for the last several sessions. Therefore investors are selling shares and booking profits.

Global challenges remain

US GDP fell to a two-year low in the March quarter. While inflation has increased. This has ruled out the possibility of a rate cut by the Fed this year. Geopolitical crisis also persists. Which may impact the market. At the local level all factors are positive.