Sensex surges 500+ pts, Nifty nears 24,900. IT, banking, and pharma lead the rally
The Indian stock market is displaying strong upward movement. Both the major indices, BSE Sensex and NSE Nifty 50, are trading in the green with significant gains. The Sensex has jumped over 500 points and is currently around 81,753. At the same time, the Nifty 50 has crossed the 24,850 mark and is trading at approximately 24,868. The rally is being driven by a mix of global relief, solid earnings from key companies, and positive investor sentiment.
What Is Driving the Market Today?
The market is reacting positively to international news. A U.S. federal court has recently stopped the implementation of new trade tariffs that were expected to cause disruptions. This move has reduced fears of a global trade conflict and lifted the mood in equity markets worldwide. As a result, Asian markets are performing well, and Indian markets are mirroring that optimism.
Sectors Performing Well
All 13 major sectors listed on the National Stock Exchange (NSE) are in the green today. This means that the buying interest is spread out across the board and not limited to just a few areas.
IT Sector: Stocks in the information technology space are doing very well. Companies like Infosys and TCS are gaining as global clients increase their technology spending.
Banking Sector: Banks are also showing strong performance. HDFC Bank and ICICI Bank are among the top gainers. The positive movement here is because of stable interest rates and strong demand for loans.
Pharmaceutical Sector: Drug companies are in focus, too. This is due to better-than-expected earnings. Strong export orders and domestic demand are pushing the stock prices higher.
Company Earnings Driving Sentiment
Recent quarterly results have played a big role in lifting investor mood today. Some companies have posted better profits than expected, which boosts confidence in the broader economy.
Steel Authority of India Limited (SAIL): SAIL has reported a consolidated net profit of ₹1,251 crore for the fourth quarter. This is an increase of 11% compared to the same period last year. The results show strong demand in the steel sector and cost control by the company.
IRCTC (Indian Railway Catering and Tourism Corporation): IRCTC has also posted good numbers. The company reported a 26% rise in net profit for the same quarter, reaching ₹358 crore. The increase is mainly due to higher bookings and tourism-related services.
These earnings suggest that key sectors of the Indian economy are doing well. Investors usually look at such earnings closely before deciding to buy or sell stocks.
Investor Sentiment and Technical Outlook
Today, investors are showing confidence. Experts believe that as long as global conditions remain stable, the rally may continue in the short term.
The Nifty 50 index has support near 24,700. This means if the index falls, it may find stability and buying interest around that level. The next resistance, or upper cap, is around 24,900. If it crosses that, more upward movement is possible.
The Sensex has support near 81,000 and resistance around 82,000. These levels act as markers for traders who look at short-term movements.
Even retail investors, who usually remain cautious, are showing interest today. Market volumes are high, and many stocks are trading at new 52-week highs.
Economic Indicators in Focus
Some other financial indicators are also affecting the mood in the market:
Rupee Movement: The Indian Rupee has weakened slightly by 15 paise today and is trading at 85.53 against the US dollar. While this is not a major drop, it reflects slight pressure from foreign markets.
Gold Prices: Gold has fallen to a one-week low of $3,262.99 per ounce. This is happening because investors are currently putting more money into stocks and taking money out of safe-haven assets like gold. When stock markets rise, gold often sees a decline.
Oil Prices: International crude oil prices are stable. This is good for India since it imports most of its oil. Stable oil prices help keep inflation in check.
Global Cues Helping Indian Market
The global picture is looking better today. A major worry was a set of tariffs planned in the U.S., which could have led to trade restrictions. But a U.S. court has stopped these plans, giving global markets some relief. Asian markets, including Japan and South Korea, are trading higher. The U.S. stock futures are also showing positive signs, which is helping the Indian market move up with confidence.
Broader Market Participation
Apart from the large-cap stocks, mid-cap and small-cap stocks are also gaining. This suggests a healthy market rally. Usually, a rally that includes smaller stocks is considered more sustainable because it shows wider investor participation.
Mutual fund inflows have also been strong this month. Domestic institutions are buying shares in large numbers, and that is providing further support to the market.
As the trading session continues on May 29, 2025, the Indian stock market is witnessing a strong rally. Positive global cues, better-than-expected corporate earnings, and strong sectoral performance are all coming together to push the market higher.
Investor confidence is rising, and participation is broad-based across sectors. While short-term resistance levels are being tested, the overall outlook remains positive. Analysts advise caution near resistance zones but are optimistic if momentum continues.
The rest of the trading day will likely see traders watching global market trends and closing prices closely. If the current momentum continues, both Sensex and Nifty may close near record highs.
