Indian benchmark indices, the Sensex and Nifty, started Thursday's trading session with significant gains, building on momentum from the previous day. This upward trend was bolstered by favorable global market sentiment and a notable drop in crude oil prices, which fell below $100 per barrel amidst increasing hopes for a US-Iran ceasefire agreement.
Market Performance Overview
By 9:17 am IST on May 21, 2026, the BSE Sensex had climbed 498.49 points (0.66%) to 75,816.88, having briefly surged by 627 points earlier in the trading day. Concurrently, the NSE Nifty advanced 156.25 points (0.66%) to 23,815.25, reaching an intraday high of 23,859.90.
Key Stock Performances
Among the Sensex components, Bharat Electronics (BEL) saw a significant rise of 2.43%, closing at Rs 423.45. InterGlobe Aviation (IndiGo) also gained 2.10%. Other notable performers included Eternal, Asian Paints, and L&T, which increased by 1.75%, 1.21%, and 1.20% respectively.
Expert Outlook
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd., observed that the market is currently exhibiting a 'buy on dips' pattern, a strategy that has proven effective. He noted a halt in sustained selling by Foreign Portfolio Investors (FPIs), who have recently been net buyers. Vijayakumar also suggested that corrections in markets like KOSPI and TAIEX, alongside FPI selling there, point to concerns over AI stock valuations, potentially benefiting the Indian market.
Aakash Shah of Choice Equity Broking Private Ltd. commented that technical indicators suggested a positive market opening, supported by robust global cues and reduced volatility. He cautioned that despite weakening bearish pressure from momentum indicators, the overall trend remains guarded as benchmark indices are still below critical moving averages. Shah emphasized that a definitive break above the 23,800 level for the Nifty would be essential to sustain further upward momentum.
Global Market Trends
Across Asia, most markets posted gains, with Japan's Nikkei 225 surging 3.58% to 61,945.34 and South Korea's Kospi zooming 7.17% to 7,725.77. However, Hong Kong's Hang Seng saw a slight dip of 0.04%, closing at 25,639.48. Overnight, Wall Street concluded strongly, with all three major indices in positive territory: the S&P 500 rose 1.08% to 7,432.97, the Dow Jones Industrial Average gained 1.31% to 50,009.35, and the Nasdaq Composite climbed 1.54% to 26,270.36.
Previous Session's Close
In the preceding session on Wednesday, the Sensex had edged up by 117.54 points (0.16%) to finish at 75,318.39, while the Nifty recorded a modest increase of 41 points (0.17%), closing at 23,659.