On Friday, May 29, 2026, India's key stock market indices, the Sensex and Nifty, opened with significant gains, extending a positive trend seen across broader Asian markets. The rally was primarily fueled by strong performances from technology sector heavyweights, alongside other major companies.
Market Snapshot: Sensex and Nifty Rally
Early trading saw the BSE Sensex surge by 248.93 points, or 0.33%, reaching 76,116.73 by 9:17 am IST, after an initial jump of as much as 352 points. Simultaneously, the NSE Nifty climbed 50.10 points, or 0.21%, to 23,957.25, briefly touching a high of 24,002.80. This rebound followed a dip in the previous session where the Sensex closed down 141.90 points, and the Nifty fell 6.55 points.
IT Stocks and Other Key Performers
Leading the charge among Sensex constituents were IT giants. Infosys saw its shares jump 2.18% to Rs 1184.40, while HCL Technologies gained 1.71%. Tata Consultancy Services (TCS), Reliance Industries, and Tech Mahindra also contributed positively, rising 1.67%, 1.37%, and 1.27% respectively. Other gainers included NTPC, Eternal, and Adani Ports.
Expert Insights on Market Drivers
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd., highlighted positive economic trends. "Brent crude declining to below $93 is a big positive," Vijayakumar noted, attributing this to expectations of a potential deal between the US and Iran. He added that such a deal could further reduce crude prices, benefiting India's macroeconomic stability, easing pressure from the energy crisis, and potentially stabilizing the rupee, which could curb foreign portfolio investor (FPI) outflows.
Hitesh Tailor, Research Analyst at Choice Equity Broking Private Ltd., described the market as being in a "consolidation phase" after its recent recovery, with indices struggling near higher levels. He pointed out that while selective buying and low volatility offer stability, profit booking at resistance zones is limiting further upside. Tailor emphasized that a clear move beyond the current trading range is crucial for confirming the next directional trend, while maintaining key support levels will keep the broader sentiment resilient.
Global Market Context
The positive sentiment in India mirrored trends across global markets. Broader Asian markets traded higher, with Japan’s Nikkei 225 surging 1.86% and South Korea’s Kospi gaining 1.97%. Hong Kong’s Hang Seng also rose 0.55%. Overnight, Wall Street indices closed in the green, with the S&P 500 up 0.58%, the Dow Jones Industrial Average edging up 0.04%, and the Nasdaq Composite jumping 0.91%.