FINAL TRADE: Nifty, Sensex end flat amid volatility; IT stocks lead losses

Stock market today: Domestic equity benchmarks Nifty50 and Sensex gave up most gains on Friday, May 24 after hitting record highs for the second straight session amid a decline in  IT stocks on worries that it would be a while before the US Federal Reserve cuts rates.

The blue-chip NSE Nifty 50 lost 10.55 points or 0.05 per cent to settle at 22,957.1, while the BSE Sensex added 7.65 points or 0.01 per cent to close at 75,410.39. During the session, the 30-share BSE Sensex clocked its all-time high of 75636.5 while NSE Nifty breached the 23,000 mark for the first time ever. It hit its lifetime peak of 23,026.4.

From the Nifty 50 universe, HDFC Bank, Bharti Airtel, L&T, BPCL, and Ultra Tech Cement were the major gainers. Adani Ports, Tech Mahindra, Mahindra & Mahindra, JSW Steel, and Titan were among the laggards.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank, settled 0.42 per cent higher at 48,971.65. 

The domestically focussed Nifty SmallCap 100 closed 0.17 per cent lower while the Nifty MidCap100 ended flat.

Global Market

European stocks dipped on Friday, putting them on course for weekly declines. The pan-European STOXX 600 index dipped 0.47 per cent at the last count. 

(This story will be updated shortly.)

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.