Stock market today: Nifty 50, Sensex end flat; midcaps, smallcaps outperform

Stock market today: Domestic equity benchmarks the Nifty 50 and the Sensex closed flat on Thursday, March 7, while the mid and smallcap segments saw healthy gains despite weak global cues.

Among the global peers, top European markets, such as the UK’s FTSE, Germany’s DAX and France’s CAC 40 traded in the red when the Nifty 50 closed ahead of the European Central Bank (ECB) policy decision. The ECB is expected to keep interest rates steady at a record 4 per cent.

Meanwhile, the US Federal Reserve signalled it could reduce its benchmark interest rate later this year. However, the Fed Chair Jerome Powell on Wednesday, March 6, said in comments to US lawmakers that continued progress on lowering inflation to the two per cent target “is not assured”.

Also Read: US Fed signals rate cuts in 2024; Powell says progress towards 2% inflation target ‘not assured’

Domestic market benchmarks traded choppy during the session but the Nifty 50 and the Sensex hit their fresh record highs of 22,525.65 and 74,245.17 in intraday trade.

Nifty 50 closed 11 points, or 0.05 per cent, up at 22,484.60 while the Sensex settled at 74,119.39, up 33 points, or 0.05 per cent.

(More to come)