Stock Market Today: Sensex Falls 380 Points, Nifty Below 24,600 Amid Volatility

The Nifty Smallcap 100 rose by 0.4 per cent, while the Midcap index edged up 20 basis points, reflecting continued investor interest in smaller companies

Foreign Institutional Investors (FIIs) were net buyers of Indian equities worth Rs 931 crore on May 14, according to NSE data

Source : PTI

Benchmark indices Nifty 50 and Sensex opened with modest losses on Thursday, May 15, as investor sentiment remained subdued in the absence of strong market triggers. Analysts expect equities to enter a consolidation phase in the near term due to the lack of fresh cues.

As of 9:45 AM, the Sensex had declined by 357.19 points or 0.44 per cent to 80,973.37, while the Nifty slipped 97.45 points or 0.40 per cent to 24,569.45. Market breadth remained positive, with 1,965 stocks advancing, 932 declining, and 156 remaining unchanged.

Despite weakness in headline indices, broader markets showed resilience. The Nifty Smallcap 100 rose by 0.4 per cent, while the Midcap index edged up 20 basis points, reflecting continued investor interest in smaller companies.

Sectoral performance was mixed. Auto, media, and metal stocks posted marginal gains, whereas FMCG, IT, and realty sectors saw declines of up to 0.6 per cent. Meanwhile, the India VIX, the volatility index, rose 1.2 per cent to 17.43, suggesting heightened market uncertainty and the potential for abrupt price movements.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, “The market appears to be heading for a near-term consolidation phase with the mid- and small-caps outperforming. The sustained robust FII buying which lifted the largecaps is likely to weaken in the new context of trade deal emerging between US and China."

Global Cues Mixed

Global markets offered little clarity. Wall Street ended Wednesday on a mixed note, with the S&P 500 closing up 0.10 per cent after fluctuating throughout the session. The Nasdaq Composite advanced 0.75 per cent, while the Dow Jones Industrial Average fell 0.21 per cent. The S&P 500 has now posted gains for six straight sessions but remains about 4 per cent below its record high from February 19.

Asian equities retreated on Thursday after four consecutive sessions of gains, as optimism from US-China trade negotiations began to fade.

Institutional Flows Remain Supportive

Foreign Institutional Investors (FIIs) were net buyers of Indian equities worth Rs 931 crore on May 14, according to NSE data. Domestic Institutional Investors (DIIs) also contributed with net purchases of ₹316 crore, indicating continued liquidity support from key market participants.

Looking ahead, market expert Vijayakumar cautioned that a tactical shift by FIIs from India to China, dubbed "Sell India; Buy China" could pressure large-cap stocks. However, this could further bolster mid- and small-cap segments, even amid valuation concerns.