Smallcaps hit all-time high as Nifty stumbles on IT, FMCG drag
The Nifty 50 closed at 24,207.75, down 0.52%, after reaching an intraday high of 24,378; The Sensex fell 0.24% to finish at 77,472
The Nifty Smallcap 100 index reached a record high on Wednesday, while the benchmark Nifty 50 index fell marginally. The shift in investor interest towards riskier assets was evident, with metals, banks, and other sectors leading the gains. IT, FMCG, real estate, and consumer durables faced the brunt of the selling pressure. The India VIX fell, indicating reduced market anxiety.
FII flows added to equities, and the rupee gained strength on the back of falling crude prices. Key catalysts for the market include Nvidia's earnings report, US inflation data, and GDP figures, as well as developments in the Middle East and U.S. politics.
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