Market Wrap, May 29: NIFTY50 recovers from day's low, holds 24,800 level, SENSEX rises 321 points; IndusInd Bank top gainer

The Indian stock market settled in green after a volatile session on Thursday, May 29, tracking its Asian peers amid gains in the metal and realty sectors. Market investors were also relieved after a US court halted tariff imposition by the Trump administration.

The broader market closed the session higher while market breadth was in favour of positive.

During the intraday period, the equity benchmark indices witnessed high volatility as SENSEX touched a low of 81,106.98 and a high of 81,816.89. NIFTY50, on the other hand, had touched a day’s high of 24,892.60 and a low of 24,825.10.  

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) bought equities worth ₹4,662.92 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹7,911.99 crore worth of equities.

Globally, indices on Wall Street closed lower on Wednesday as investors were cautious post the Federal Reserve’s minutes for its May meeting.

The Dow Jones Industrial Average slipped 244.95 points, or 0.58%, to close at 42,098.70, the S&P 500 declined 32.99 points, or 0.56%, at 5,888.55, and the Nasdaq Composite fell 98.23 points, or 0.51%, to settle at the 19,100.94 level.

Meanwhile, the Asian indices ended with gains (green) on Thursday after a federal court in the US blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law.

Japan’s Nikkei 225 ended 1.85% higher at 38,432.98 levels, while Hong Kong's Hang Seng and South Korea's KOSPI jumped 1.34% and 1.86%, respectively. The Shanghai Composite was up 0.70% to the 3,363.45 level.

As many as 2,947 stocks traded on the NSE on Thursday. Out of this, 1,510 advanced, and 1,373 stocks declined, while 64 scrips remained unchanged.

This indicates that market breadth was majorly in favour of positive.

A total of 57 stocks hit their 52-week highs, while 24 stocks touched their one-year lows. Besides, 106 stocks hit their upper circuit limits, and 81 touched their lower circuit bands on Thursday.

NSE-listed firms' market capitalisation stood at ₹443 lakh crore at the end of the session.

The volatility index India VIX declined 8.86% to 16.42 levels.

The broader market ended in green, with the NIFTY Midcap 100 index rising 0.55% to close at 57,457.25 levels, while the NIFTY Smallcap 100 index settled at 17,889.4 levels, gaining 0.59%.

Except for Nifty PSU Bank (-0.24%) and Nifty FMCG (-0.13%), all the other sectors ended positive.

Nifty Metal (1.21%), Nifty Realty (1.14%), Nifty Pharma (0.92%), Nifty IT (0.77%) and Nifty Auto (0.51%) were the biggest winners among sectors.

On the flip side, HDFC Life Insurance (-1.07%), Bharat Electronics (-0.81%), Tata Consumer Products (-0.68%), Jio Financial Services (-0.67%) and Bajaj Finance (-0.62%) were among the top losers on Thursday.