The benchmark Nifty ended May with a decline of 0.3 per cent, snapping its three-month gaining streak, amid heightened volatility. 

The Nifty Smallcap 100 index fell 2 per cent, while the Nifty Midcap 100 index managed to eke out a gain of 1.6 per cent.

The Sensex ended with a loss of 0.7 per cent. However, during the month all key indices made fresh highs, propelling India’s market capitalisation to $5 trillion.

Election uncertainty and the uncertain US rate cut outlook sent the India VIX index soaring by 80 per cent to a two-year high of 24.6.

During the month foreign portfolio investors (FPIs) pulled out around Rs 27,526, the most since January 23. The outflows were offset by Rs 53,619 crore inflows from domestic institutional investors (DIIs).

This was the 10th straight month of positive flows from DII.

Since August, they have pumped in Rs 3 trillion into domestic stocks, of which Rs 2 trillion have come during this calendar year.

Metal, realty, and auto stocks have outperformed in May, while public sector banks, information technology, and oil and gas stocks have underperformed.

First Published: May 31 2024 | 7:42 PM IST