The Indian stock market witnessed a sharp turnaround on May 27, ending a two-day winning streak with a steep fall in the benchmark indices. The Sensex tumbled 625 points, while the Nifty closed below the 24,850 mark, primarily dragged down by heavy selling in IT, FMCG, and auto stocks.
A Wild Ride for Investors
It was a rollercoaster session for the markets, with the Sensex swinging nearly 1,300 points intraday. The day saw intense volatility as both bulls and bears fought for dominance. While the session began with optimism, pressure from key sectors soon reversed the trend, leading to a sharp fall by the closing bell.
At close, the Sensex was down 624.82 points or 0.76% at 81,551.63, and the Nifty declined 174.95 points or 0.70% to settle at 24,826.20.
Sectoral Pressure Weighs on Benchmarks
The market’s poor performance was largely due to persistent selling in IT, FMCG, and auto sectors, which exerted downward pressure on both Sensex and Nifty. These segments, typically sensitive to global cues and domestic consumption trends, underperformed during the session, dragging the frontline indices into the red.
Broader Market Shows Resilience
Amid the chaos in large-cap indices, the broader markets managed to hold steady. The Nifty Midcap 100 rose by 0.15%, while the Smallcap 100 edged up 0.1%, signaling some degree of investor confidence in mid and small-sized companies. This marginal gain in the broader market offered a sliver of stability in what was otherwise a volatile trading day.
Market Breadth Remains Flat
The overall market breadth reflected the indecisiveness of the day. About 1,893 stocks advanced, while 1,898 declined, and 137 remained unchanged—highlighting the tug-of-war between the bulls and the bears across the board.
Conclusion
While the Sensex and Nifty snapped their short-term winning streak, the resilience of the broader market provided a silver lining. The volatility and sector-specific drag seen today underline the cautious sentiment prevailing among investors. With markets swinging wildly and key sectors underperforming, all eyes will now be on upcoming domestic and global cues for direction in the days ahead.
Stay tuned to Nifty Trader India for daily updates on Sensex, Nifty, and sectoral movements.
