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Market Commentary

Indian benchmark indices witnessed a sharp sell - off during the second half of the trading session amid profit booking . Investors opted to reduce risk exposure keeping geopolitical risk in mind, leading to weakness across several sectors and broader market indices .

* At close, the Nifty 50 declined 27.15 points or 0 .12% to settle at 23 ,214 .95 , while the Sensex managed to close marginally higher, gaining 64 .42 points or 0 .09 % to end at 73 ,983 .18.

* On the sectoral front, Nifty Media emerged as the biggest laggard, followed by Metal, Realty, and Banking stocks, all of which witnessed notable selling pressure . In contrast, sectors outperformed the broader market, with FMCG stocks leading the gains . Select private banks and other financial stocks also provided support, helping limit the downside in the benchmark indices .

* The Nifty Midcap 100 index declined 1.49 % to close at 59 ,810 , while the Nifty Small cap 100 index fell 1.33 % to settle at 17,822 .50 , reflecting profit booking across the broader market space . ? Gift Nifty signals a negative opening for the Indian market . Nifty spot in today's session likely to trade in the range of 23 ,000 - 23 ,40

Global Updates

* Wall Street closed out Wednesday's session deeply in the red, marking its worst collective performance in weeks . The sudden rise in volatility triggered a widespread liquidation across large - cap growth and cyclical themes alike .

* Risk - off sentiment slammed back into Wall Street on Wednesday as a vicious wave of profit -taking targeted former artificial intelligence gainers . Nvidia plummeted 3.7% and Broadcom slid 5.1%, dragging the tech - heavy Nasdaq down by a sharp 2%

* Providing the structural backdrop for the broad market drop, the May U.S . Consumer Price Index (CPI) print accelerated to an annual rate of 4 .2%, up from 3.8% in April .

* Asian benchmarks are displaying deep, synchronized weakness this morning, catching the sharp risk - off spillover from New York's late tech and inflation shakeup .

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