Stock market today: Nifty 50, Sensex snap 5-day winning streak on profit booking

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Market highlights: Sensex sheds 200 pts, Nifty near 22,050 at close; IT, realty down Even though analysts have been warning about uncertainty on interest rate trajectory due to inflation being higher than central banks' targets, the market is already considering the possibility of rate cuts this year. Some analysts suggest that if rate cuts happen, they might not be significant but rather modest. The domestic market spent most of the day in negative territory on Tuesday, but it experienced a brief upswing during the session, propelling the benchmarks to achieve new record highs.

Nifty 50 opened at 22,080.50 against the previous close of 22,097.45 and hit its fresh record high of 22,124.15 during the session. The index, however, erased all gains and closed 65 points, or 0.29 per cent, lower at 22,032.30. The 30-share pack Sensex opened at 73,331.95 against its previous close of 73,327.94 and touched its record high of 73,427.59.

It finally settled at 73,128.77, down 199 points, or 0.27 per cent. The BSE Midcap index hit its fresh all-time high of 38,302.4 during the session but ended with a loss of 0.31 per cent at 38,009.80. The BSE Smallcap index fell 0.43 per cent to close at 44,361.39.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Also Read: Dollar at one-month high as Fed rate-cut bets fizzle out Shares of BPCL (up 2.73 per cent), Tata Steel (up 1.74 per cent) and Titan (up 1.60 per cent) closed as the top gainers in the Nifty 50 index. Shares of Divi's Laboratories (down 2.11 per cent), HCL Technologies (down 2.09 per cent) and NTPC (down 1.81 per cent) ended as the top laggards in the Nifty 50 index.