Sensex Rises 320 Points On Fag-End Buying, Nifty Above 24,800; IndusInd Bank Up 3%

Last Updated:May 29, 2025, 15:47 IST

The Indian equity benchmarks opened on a strong note on Thursday, May 29, 2025, supported by positive global cues

Sensex Today: After a tepid start, Indian equity benchmark indices closed on a positive note on Thursday, buoyed by improved investor sentiment following a U.S. federal court’s decision to block former President Donald Trump’s proposed “Liberation Day” tariffs.

The BSE Sensex rose 320.70 points, or 0.39%, to settle at 81,633.02, after hitting an intraday high of 81,816.89. The NSE Nifty50 ended higher by 81.15 points, or 0.33%, at 24,833.60.

In the broader markets, the Nifty Midcap100 and Smallcap100 indices gained 0.55% and 0.59%, respectively, reflecting broader market strength.

On the sectoral front, all indices ended in the green except FMCG and PSU Banks. Nifty Metal and Realty led the gains, rising over 1% each, followed by IT, Pharma, Banking, and Energy stocks.

Among Sensex constituents, 24 of the 30 stocks closed in the green. IndusInd Bank, Sun Pharma, Eicher Motors, Adani Ports, and Tata Steel were the top gainers.

Meanwhile, Bajaj Finance, Bajaj Finserv, Asian Paints, ITC, TCS, and NTPC were among the laggards, shedding up to 0.6%.

India VIX, the volatility gauge, declined sharply by 9.73% to 16.26, indicating easing investor anxiety.

Global Cues

In a major global development, a US federal trade court ruled that former President Donald Trump exceeded his authority by imposing reciprocal tariffs, striking down a key part of his trade policy. The court clarified that the 1977 International Emergency Economic Powers Act does not permit such unilateral trade actions. This legal decision, combined with Nvidia’s blockbuster quarterly earnings, helped lift investor sentiment across global markets.

Asian equities traded in the green following the ruling and Nvidia’s performance. Japan’s Nikkei gained 1.16% and the Topix rose 1.11%, while South Korea’s Kospi added 1.07%. In Australia, the ASX200 edged up 0.27%. Investors in the region are also watching for the Bank of Korea’s policy decision and tracking semiconductor stocks after Nvidia reported a 73% year-on-year surge in data center revenues.

Despite positive futures movement, US markets ended lower overnight as investors weighed corporate earnings and the minutes from the Federal Open Market Committee (FOMC) meeting. The S&P 500 fell 0.56%, the Nasdaq Composite slipped 0.51%, and the Dow Jones lost 0.58%. According to the Fed minutes, officials noted that the recent tariff hikes were broader and steeper than expected, fueling uncertainty around trade policy and raising downside risks to employment and growth, along with persistent inflation concerns.

Still, the Federal Reserve signaled a patient approach, citing steady economic growth, a resilient labor market, and moderately tight policy conditions as reasons to hold off on immediate changes. With supportive global trends and steady inflows from foreign and domestic institutional investors, Indian markets may look to extend gains, barring any unexpected volatility from derivatives expiry or earnings surprises.

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