Market Performance
The Indian equity market rebounded smartly on May 29, ending a two-day losing streak. A late-session surge helped key indices close on a positive note despite a volatile day.
- Sensex climbed 320 points or 0.39%, closing at 81,633
- Nifty 50 rose 81 points or 0.33%, ending at 24,833
- Nifty Midcap 100 and Smallcap 100 also saw gains of 0.55% and 0.6%, respectively
Investor sentiment improved due to easing global trade tensions following a U.S. court ruling that blocked proposed import tariffs. This development boosted risk appetite across international markets.
Main News
A key driver for the rebound was the monthly F&O expiry, which introduced significant intraday volatility but eventually led to recovery across most sectors.
The market breadth was fairly balanced:
- 1,948 stocks advanced
- 1,877 stocks declined
- 126 stocks remained unchanged
Volatility also cooled, with India’s VIX falling by 8%, suggesting a temporary reduction in market nervousness.
Sectoral Highlights
Top Performing Sectors:
- Nifty Metal Index rose by 1.21%, emerging as the top sectoral gainer
- Nifty Realty, IT, Pharma, and Media indices all posted gains of over 0.5%
Underperforming Sectors:
- Nifty PSU Bank Index slipped by 0.24%, ending a 4-day winning streak
- Nifty FMCG Index continued in the red, down 0.13%
Despite sectoral divergence, the overall market tone was positive by the session’s close.
Summary of the Article
- Indian indices Sensex and Nifty closed higher on May 29, driven by late buying and easing global trade fears.
- The Sensex gained 320 points, while the Nifty 50 closed above 24,800.
- Metal, Realty, and IT stocks led the rally, while PSU Banks and FMCG lagged.
- Volatility cooled, with India’s VIX dropping by 8%, signaling more stable sentiment.
- The market shrugged off intraday fluctuations linked to F&O expiry, ending on a firm note.
This market action underscores the resilience of Indian equities amid global shifts and sector-specific movements, highlighting the significance of developments in the Sensex and Nifty.
