FINAL TRADE: Nifty gives up 22,900, Sensex falls 220 pts; energy stocks lead losses

Stock market today: Domestic blue-chip indices Nifty50 and Sensex closed subdued on Tuesday, May 28, near the day's lows dragged by selling in energy stocks. The 30-share BSE Sensex closed at 75,170.45, down 220.05 points or 0.29 per cent while NSE Nifty went up by44.3 points or 0.19 per cent to settle at 22,888.15.

Among the Nifty companies, 22 stocks were advancing while 28 stocks were declining. Adani Ports, Power Grid, BPCL, Coal India, and Adani Enterprises were the top decliners in Nifty 50 universe while Divi's, SBI Life, HDFC Life, Hero MotoCorp, and Grasim led the gains.

"The Indian market exhibited mild consolidation post the recent sharp surge. The uncertainty-led volatility is likely to continue as the market approaches the election outcome," Vinod Nair, Head of Research, at Geojit Financial Services said. 

"Conversely, the underlying earnings growth for the March quarter results so far was largely above expectations, which would likely support the valuation, which is currently moderately above the long-term average. Mid- & small-caps underperformed today, while defensive sectors like Pharma and FMCG were optimistic," he added.

The domestically focussed Nifty SmallCap 100 and Nifty MidCap100 were down 0.85 per cent and 0.89 per cent, respectively.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank settled 0.28 per cent lower at 49,142.15.

Global market 

On Tuesday, European shares struggled for direction after the European Central Bank's survey showed consumers' easing inflation expectations in April, while real estate shares kept the index afloat.

Last seen, the pan-European STOXX 600 index was flat.

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