Market Wrap, May 23: NIFTY50 jumps over 200 points, SENSEX closes above 81,700; all you need to know

Indian equity markets continued to trade higher in the late afternoon session, supported by widespread buying. Investor sentiments remained upbeat after ICRA Analytics’ report showed that the Assets Under Management (AUM) of the Indian mutual fund (MF) industry touched ₹70 trillion as of March 2025, marking a 22.5% year-on-year growth. It added that the AUM of open-ended schemes like index funds and exchange-traded funds (ETFs) witnessed a growth of 23.80 per cent in April 2025, followed by open-ended equity funds.

On the global front, Asian equity markets were trading mixed despite a retreat in U.S. Treasury yields and comments from a Federal Reserve official that the U.S. central bank might lower interest rates in 2025 if tariff issues are resolved. European equity markets were trading mostly in green after the release of better-than-expected regional data. Germany's Gross domestic product registered a quarterly growth of 0.4% compared to the previous estimate of 0.2% expansion.

The Sensex closed at 81721.94, up by 721.95 points or 0.95% after trading in a range of 80897.00 and 81905.17. 29 stocks were advanced against 1 stock declined on the index.

The broader indices also closed in green; the BSE Mid-Cap index surged 0.55%, while the Small-Cap index was up by 0.45%.

Sectoral gainers

The top-gaining sectoral indices on the BSE were FMCG up by 1.45%, IT up by 1.24%, Utilities up by 1.03%, Power up by 1.03% and Oil & Gas up by 0.99%, while Healthcare down by 0.11% was the lone losing index on BSE.

SENSEX top gainers & losers

The top gainers on the Sensex were Eternal up by 3.5%,, Power Grid Corporation of India up by 2.40%, ITC up by 2.32%, Bajaj Finserv up by 2.01% and Axis Bank up by 1.83%. On the flip side, Sun Pharma Industries down by 1.8% was the sole losers.

Stock-specific developments

Shares of rooftop solar panel manufacturers Waaree Energies and Premier Energies slumped sharply on Friday, May 23, amid fears of declining support for clean energy in the United States. Waaree Energies plunged as much as 11% to an intraday low of ₹2,666, while Premier Energies dropped 6.12% to ₹1,022.

Shares of the personal care products maker rose as much as 17.15% to hit an intraday high of ₹322.70 after the company’s Q4FY25 net profit jumped 4.7% YoY. The company reported market share gains in the face wash and shampoo segments and reached to 2,36,825 FMCG retail outlets in India.

NIFTY50

The NIFTY50 closed at 24853.35, up by 243.65 points or 0.99% after trading in a range of 24614.05 and 24909.05. 48 stocks were advancing against 2 stocks declining on the index.

NIFTY50 top gainers & losers

The top gainers on Nifty were Eternal up by 3.6%, HDFC Life Insurance up by 3.2%, JIO Financial Services up by 2.49%, Power Grid up by 2.46% and ITC up by 2.32%. On the flip side, Sun Pharma Industries down by 1.72% and Grasim Industries down by 0.7% were the only losers.

Asian markets are trading mixed; Hang Seng advanced 56.95 points or 0.24% to 23,601.26, Jakarta Composite gained 36.52 points or 0.51% to 7,203.50, Nikkei 225 surged 174.6 points or 0.47% to 37,160.47 and Straits Times rose 0.1 points to 3,880.19, while KOSPI dropped 1.58 points or 0.06% to 2,592.09, Taiwan Weighted lost 18.72 points or 0.09% to 21,652.24 and Shanghai Composite weakened 31.82 points or 0.95% to 3,348.37.

European markets were trading mostly in green; UK’s FTSE 100 increased 34.99 points or 0.4% to 8,774.25, Germany’s DAX gained 125.15 points or 0.52% to 24,124.32 and France’s CAC fell 2.44 points or 0.03% to 7,862.00.