Stock market today: Sensex, Nifty 50 fall; geopolitical concerns, spike in crude oil prices weigh on sentiment

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BSE Midcap and Smallcap indices hit their fresh record highs of 37,193.29 and 43,196.17 respectively during the session but failed to hold gains and ended almost flat. The BSE Midcap index ended with a loss of 0.08 per cent while the Smallcap index lost 0.03 per cent. Some 19 stocks ended with gains in the Nifty 50 index today.

Shares of Divi's Laboratories (up 3.09 per cent), Adani Ports and Special Economic Zone (up 2.97 per cent) and Sun Pharma (up 2.77 per cent) ended as the top gainers in the Nifty 50 index. Shares of Eicher Motors (down 3.57 per cent), Mahindra & Mahindra (down 2.48 per cent) and UltraTech Cement (down 2.47 per cent) ended as the top losers in the Nifty 50 pack. Among the sectoral indices, Nifty Auto (down 1.37 per cent), Private Bank (down 1.17 per cent), IT (down 1.16 per cent) and Realty (down 1.04 per cent) lost big.

Nifty Bank fell 0.98 per cent. On the other hand, Nifty Pharma jumped 2.46 per cent. "The market extended yesterday’s last hour’s selloff, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies.

Ahead of the impending results season, investors are adopting a profit-booking strategy. Auto stocks declined on below-expected volume numbers, while pharma stocks were the standout due to catch-up in the US economy," said Vinod Nair, Head of Research at Geojit Financial Services. "The underperformance of the banking majors is largely weighing on the sentiment amid consolidation and a decisive close above 21,800 in Nifty would prompt the next leg of the up move.