The BSE Sensex opened at 75,441.27 and was trading at 75,684.70, up 369.66 points (0.49%) as of latest trading data, while the NSE Nifty 50 opened at 23,675.30, gaining 56.80 points (0.24%). The Sensex moved between a high of 75,741.84 and a low of 75,371.07 throughout the trading session, while the Nifty 50 traded between 23,768.95 and 23,647.40. This positive opening followed Monday's close where the Sensex closed at 75,200.85, down 114.19 points (0.15%) and the Nifty ended at 23,618.00, declining 31.95 points (0.14%). The early gains were driven by a sharp rally in information technology stocks and easing geopolitical concerns after US President Donald Trump said he had called off a planned military strike on Iran. The market opened in the green on Tuesday amid optimistic economic outlooks and reduced geopolitical tensions.
Infosys Ltd emerged as the top performer with a 4.47% gain to close at ₹1,193.60, demonstrating continued strong momentum from Monday's session. Tech Mahindra Ltd followed closely with a 3.88% rise to ₹1,485.50, while HCL Technologies Ltd posted gains of 3.51% to ₹1,186.90. TCS climbed 3.09% to ₹2,353.70, and Wipro added 2.35% to trade at ₹1,966.80. Adani Enterprises Ltd rounded out the top gainers with a 2.59% increase to ₹2,759.50. In Monday's session, the Nifty IT index had already gained 2.70%, making it the top-performing sector, with technology stocks continuing to see strong buying support after Monday's strong rebound.
Hindalco Industries Ltd led the losers with a 1.20% decline to ₹1,040.50, followed by ONGC which fell 0.98% to ₹294.30. Coal India Ltd dropped 0.85% to ₹458.15, while Cipla Ltd slipped 0.63% to ₹1,417.20. UltraTech Cement Ltd was down 0.58% to ₹11,494.00. Notable among the major decliners was ICICI Bank Ltd, which fell 0.51% to ₹1,244.70, and Kotak Mahindra Bank Ltd, which dropped 0.48% to ₹389.90. Astral fell 6.34% to emerge as the top loser on the BSE Midcap index, while Kotak Mahindra Bank fell 2.5% and was the top loser on the Nifty.
The Nifty IT index surged nearly 4% to emerge as the top-performing sectoral index, with technology stocks continuing to see strong buying support after Monday's strong rebound. Nifty Realty jumped 1.78%, while Nifty PSU Bank gained 0.66% and Oil & Gas and Energy indices rose 0.72% and 0.34% respectively. Nifty Chemical and Nifty FMCG indices also traded firmly in positive territory, indicating broad-based sectoral strength. BSE Midcap 100 and Smallcap 100 indices gained 1.36% and 1.40% respectively, comfortably outperforming benchmark indices. About 2,454 shares advanced against 1,368 declines on the BSE, indicating broad-based buying despite benchmark indices paring early gains. India VIX declined 5.45% to 18.50, extending losses after Monday's sharp spike linked to geopolitical tensions and crude oil volatility. Fuel prices rose again with petrol becoming costlier by 90 paise per litre and diesel by 91 paise per litre, intensifying pressure on households and businesses amid the prolonged conflict in West Asia.
The Nifty 50 is expected to trade in the 23,250–23,800 range in the short term, with above this range, 24,000–24,100 are the levels to watch. However, sustaining below 23,400 can drag the index down towards 23,250, followed by the 23,100 level. As per Shrikant Chouhan, Head of Equity Research at Kotak Securities, "For day traders, 23,500 will act as a trend-decider level. As long as the market trades above this, the pullback formation is likely to continue. On the upside, this pullback could continue towards 23,800–23,900." The market is expected to witness consolidation with range-bound trading in upcoming sessions. GIFT Nifty ended the afternoon session down 55 points (0.23%) at 23,560, indicating a subdued start for Indian benchmark indices in the next trading session. The rupee breached the ₹96.50 per dollar level on May 19, after consistently elevated Brent crude prices dampened investor sentiment for the currency, while sustained tensions in West Asia continued to add pressure on the Indian unit.
