In a sharp turnaround, benchmark indices Nifty and Sensex clawed back into the green after a weak start, lifted by a rebound in banking, pharma, and metal stocks. The afternoon surge also powered broader markets, with midcaps and smallcaps outperforming their larger peers.
At about 11:30 am, the Sensex was up 148.20 points or 0.18 percent at 82,324.65, and the Nifty was up 40.75 points or 0.16 percent at 25,041.90. About 1810 shares advanced, 1463 shares declined, and 146 shares were unchanged.
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"The U.S. decision to consider extending the deadline for imposing aggressive tariffs on the EU, coupled with a decline in the dollar index, contributed to a rebound in the domestic equity markets. These developments suggest that trade negotiations are progressing constructively, which could help moderate market volatility. Additionally, the early onset of the southwest monsoon and a decline in domestic bond yields have encouraged investors to maintain their focus on riskier assets," said Vinod Nair of Geojit Investments Limited.
Most sectoral indices were in the red during the morning session but recovered steadily by the afternoon. Nifty Bank, Consumer Durables, Energy, FMCG, PSU Bank, Private Bank, Metal, Pharma, Realty, and Media all ended with gains ranging from 0.04 to 0.59 percent. Broader indices also saw a recovery, with the Nifty Midcap 100 and Smallcap 100 rising 0.22 percent and 0.41 percent, respectively. However, Nifty IT, Auto, Infra, and Oil & Gas remained under pressure. Volatility also eased, as the India VIX climbed just 3.72 percent to 18.69 from 19.02 earlier in the day.
As for individual stocks, the shares of Brainbees Solutions, the parent organisation of FirstCry, dropped over 4 percent on May 27 after the company reported a net loss of Rs 111.5 crore for the fourth quarter of FY25. Notably, the company's Rs 111.5 crore net loss marked a significant increase from the Rs 43.2 crore net loss reported in the same period of the previous financial year. Sequentially, the net loss witnessed a more pronounced rise from the Rs 14.7 crore reported in Q3 FY25.
Interglobe Aviation, the operator of IndiGo Airlines, lost over 2 percent after co-founder Rakesh Gangwal offloaded up to 3.4 percent of his stake through a block deal that could fetch as much as Rs 6,831 crore, CNBC TV-18 reported, citing people familiar with the matter. The deal marks another step in Gangwal’s ongoing effort to gradually exit the airline’s holding company.
EV bus manufacturer Olectra Greentech slipped 6 percent after Maharashtra’s Transport Minister Pratap Sarnaik called for the cancellation of the company’s electric bus order over missed delivery deadlines. In a post on social media platform X, Sarnaik said that the company had failed to deliver even a single bus from the 1,000 units scheduled for handover by May 22.
"The Nifty managed to close above the psychological 25,000 level yesterday, but as long as the previous high of 25,116 is holding, there is a small chance of a dip that holds 24,462. This level is a make-or-break for bulls and bears alike, and the preferred view is that as long as it is intact, we will target the 25,400 - 25,600 area," Akshay Chinchalkar, Head of Research at Axis Securities said. "This dip doesn't have to come, however, in which case the 25,500 area becomes the immediate play. Elsewhere, in yet another sign of bullish behaviour, the NSE smallcap index ended above its 200-day moving average yesterday for the first time in seven months. Macro-wise, expectations of a US-EU trade deal are keeping sentiment positive," he added.
IndusInd Bank, Trent, Asian Paints, Adani Ports and Nestle were among the top gainers on the Nifty, while UltraTech Cement, Grasim, NTPC, JSW Steel and Shriram Finance were the leading laggards.
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