The benchmark Nifty ended May with a decline of 0.3 per cent, snapping its three-month winning streak, amid heightened volatility. The Nifty Smallcap 100 index fell 2 per cent, while the Nifty Midcap 100 index managed to eke out a gain of 1.6 per cent. The Sensex ended with a loss of 0.7 per cent. However, during the month all key indices made fresh highs, propelling India’s market capitalisation to $5 trillion. Election uncertainty and the uncertain US rate cut outlook sent the India Vix soaring by 80 per cent to a two-year high of 24.6. During the month, foreign portfolio investors pulled out around Rs 24,337, the most since January 24. The outflows were offset by Rs 53,619 crore inflows from domestic institutional investors (DIIs). This was the 10th straight month of positive flows from DII. Since August, they have pumped in Rs 3 trillion into domestic stocks, of which Rs 2 trillion have come during this calendar year. Metal, realty, and auto stocks have outperformed in May, while public sector banks, information technology, and oil and gas stocks have underperformed.
Indices snap 5-day losing streak
Stock markets snapped the five-day losing run on Friday. The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31.Halting its five-day losing streak, the 50-share NSE Nifty rose by 42.05 or 0.19 per cent to end at 22,530.70.
Index tracker: Awaiting results
Business Standard looks at where the benchmark indices were during the trading sessions in the week leading up to the Lok Sabha election results since 2004, and their performance.