Lagatar24 Desk
Mumbai: Indian equity benchmarks Sensex and Nifty 50 extended their losses for a second straight session on May 19, dragged down by weak global cues and profit-booking amid high valuations. The Sensex closed 271 points, or 0.33% lower, at 82,059.42, while the Nifty 50 fell 75 points, or 0.30%, to settle at 24,944.45, slipping below the 25,000 mark. Meanwhile, India VIX rose nearly 5%, indicating rising investor caution.
Midcap, smallcap indices outperform
Despite the broader weakness, the BSE Midcap and Smallcap indices bucked the trend, gaining 0.27% and 0.75%, respectively. Technical analysts see the market entering a phase of consolidation, with Nifty nearing a key support zone of 24,880–24,800. “A close below 24,700 would weaken the structure,” said Jatin Gedia of Mirae Asset Sharekhan.
10 key highlights from today’s market action
1. Why did markets fall again?
With no major new triggers and elevated valuations, investors opted to book profits. Analysts note that the Nifty is trading slightly above its historical average P/E, raising concerns about future returns without strong earnings growth.
2. Top gainers on Nifty 50
Bajaj Auto (+4.10%), Shriram Finance (+1.85%) and Power Grid Corporation (+1.35%) led the index gains.
3. Top losers in Nifty 50
Eicher Motors (-3.06%), Grasim Industries (-2.90%), and Infosys (-2.00%) were among the biggest drags.
4. Sectoral performance
Nifty Realty surged 2.26%, PSU Bank rose 1.46%, and Financial Services gained 0.13%. Nifty IT (-1.30%), Media (-0.59%) and Oil & Gas (-0.36%) ended lower.
5. Most active by volume
Vodafone Idea (171 crore shares), YES Bank (14.65 crore), and GTL Infrastructure (10.57 crore) topped volume charts on the NSE.
6. Stocks that jumped over 15%
Kaya, Banco Products, Zodiac Energy, Premier Explosives, and Foods & Inns were among nine stocks that rallied over 15%.
7. Major losers of the day
Protean eGov Technologies and Bharat Bijlee both crashed over 10% on the NSE.
8. Circuit breakers
175 stocks, including Zen Technologies and KPI Green Energy, hit upper circuits; 54 stocks, including Godfrey Phillips and Jaiprakash Associates, hit lower circuits.
9. Market breadth
Out of NSE-listed stocks, 1,842 advanced, 1,074 declined, and 89 remained unchanged.
10. 52-week highs and lows
118 stocks hit 52-week highs, including ICICI Bank and IndiGo. In contrast, 35 stocks hit new 52-week lows, including Jai Balaji Industries and NIIT Learning Systems.
