New Delhi, May 14 -- On Tuesday, domestic equity benchmarks fell sharply as Sensex and Nifty came under broad-based selling pressure. Profit booking was pronounced in key sectors such as IT, auto and FMCG following a strong rally on Monday. The decline was largely driven by investor caution ahead of the US consumer price index (CPI) inflation data for April.

The capital goods, media, PSU bank and pharma indices posted gains of 1-1.6%, while the IT, metal, FMCG, oil and gas, and realty indices fell 0.9-2.5%.

Two stock recommendations for today by MarketSmith India

Why it's recommended: Strategic importance in defence and aerospace, high barriers to entryKey metrics: P/E: 47.65, 52-week high: Rs.340.50, volume: Rs.1,937.63 croreTechnical...