Buy or sell: Vaishali Parekh recommends buying in 3 stocks today - September 13

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Nifty both showed significant volatility throughout the session, while the mid- and small-cap markets saw a big wave of selloffs. Despite new valuation concerns, the market declined.

A global economic slowdown, high interest rates, the persistent risk of inflation, and the ongoing rise in the dollar index and US Treasury yields all refuse to fade away, even though the majority of positives have already been taken into account. Global cues were also subpar as investors moved their attention to US inflation data due out on Wednesday, the European Central Bank's policy meeting on Thursday, and the US Federal Reserve's meeting on next Wednesday.

Also Read: FII offload ₹1,047 crore in Indian equities after markets decline over profit booking; DIIs invest ₹259 crore Sensex closed at 67,221.13, up 94 points, or 0.14 per cent while the Nifty closed the day at 19,993.20, down 3 points, or 0.02 per cent. "The level of pessimism has risen in the stock market leading to a precautionary approach to book profits on a notion that the valuation has extended beyond the rationale.

The correction is happening on midcaps while large caps are maintaining their strength. This cautious trend can prevail in the short-term, but the end-game is on the rise of the domestic economy, surprising upside in corporate earnings, and change in domestic investment patterns, which is expected to continue on a long-term basis," said Vinod Nair, Head of Research at Geojit Financial Services.