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Informist, Friday, May 29, 2026

By Arundathi A R

MUMBAI – The continuing uncertainty around the 60-day ceasefire deal between the US and Iran pulled down domestic equity indices on Friday. The Nifty 50 index ended the week with a loss of nearly 1%. Both the benchmark indices, which extended losses for the third session in a row, settled over 1% lower each on Friday. Negative sentiment prevailed in the market despite crude oil prices easing to $92 per barrel. Power and energy stocks were the major drags in the Nifty 50 index.

The Nifty 50 settled at 23547.75, down 359.40 points or 1.5%. The BSE Sensex ended at 74775.74, down 1092.06 points or 1.4%. The 50-stock index also failed to close above the 24000 level for the third straight day. Only five Nifty 50 stocks ended the session higher, of which four were major information technology stocks.

All broader market indices ended the session lower. Small-cap indices closed 0.7-1% lower. Mid-cap indices settled over 1% lower each. Barring the Nifty IT, all sectoral indices ended in negative territory. The Nifty Oil & Gas was the major drag among the sectoral indices, with most constituents ending lower. The sectoral index lost 2.5% in the session. At 1536 IST, the Brent crude July futures contract was down nearly 2% at $92.19 a barrel.

Meanwhile, gains in major IT stocks limited further losses in the 50-stock index. The Nifty IT was the top gaining sectoral index, with most of its stocks trading in positive territory. IT stocks gained after Wipro expanded its partnership with US-based software company ServiceNow to scale artificial intelligence workflows across core enterprise functions. The Nifty IT ended nearly 1% higher.

InterGlobe Aviation ended as the key loser in the index and shed nearly 4%. Eicher Motors and Power Grid Corp. ended with over 3% losses. InterGlobe Aviation fell ahead of its Jan-Mar earnings, due later in the day.

Oil and Natural Gas Corp. and Tata Steel were the other stocks which ended the session over 3% lower. Another energy stock, NTPC, also logged a loss of nearly 3%. The index heavyweight Reliance Industries ended over 2% lower.  

The Nifty Auto was also among the major laggards among sectoral indices, down almost 2%. Barring three stocks, all other automobile components in the Nifty Auto were in the red. Ashok Leyland was the key loser among them, down 5%. The stock was among the major losers in the Nifty 200 index as well. Despite reporting the highest net profit growth in three quarters Thursday, Ashok Leyland closed over 5% lower. Brokerage Emkay Global Financial Services has cut its target price by 12% to INR 220.

Bharat Dynamics was the other stock among the major Nifty 200 losers. The state-owned defence company reported a sharp fall in both its top line and bottom line for the March quarter Thursday. The company missed beating the Street's views of its top line and bottom line. Shares of the company ended over 6% lower.

Natco Pharma and Jyoti CNC Automation were the major losers in the Nifty 500 index. Shares of Natco Pharma ended nearly 14% lower and those of Jyoti CNC ended over 9% lower. Natco Pharma fell after the company reported a 34% on-year fall in the March quarter consolidated net profit. Jyoti CNC's Jan-Mar consolidated net profit fell 17% on year.

Schneider Electric Infrastructure hit a 5% lower circuit at INR 1,308.80 during the session. The company reported a 60% on-year fall in its net profit for the March quarter on Thursday. The stock fell after rising for the previous three straight sessions.

Tech Mahindra, HCL Technologies, Wipro, Larsen & Toubro, and Infosys were the sole gainers in the 50-stock index. The stocks ended 0.1-1.9% higher.

ICICI Prudential Asset Management Co., Siemens Energy India, and GMR Airports were the top gainers in the Nifty 200 index, up 2.6–3.0%. GMR Airports rose after the company reported a net profit compared with a loss in the year-ago quarter. The stock gained for the second session.

Wockhardt ended as the most-gaining Nifty 500 constituent. The company's shares, which ended nearly 15% higher Friday, notched its all-time high after the Central Drugs Standard Control Organisation approved the import and sale of its antibiotic drug Zaynich in India. Netweb Technologies India, which extended its gains for the third straight day, also ended nearly 15% higher in the Nifty 500 index.

* Of the Nifty 50 stocks, 5 rose, 45 fell

* Of the Sensex stocks, 4 rose, 26 fell

* On the NSE, 1,145 stocks rose, 2,171 fell, and 106 were unchanged

* On the BSE, 1,670 stocks rose, 2,599 fell, and 212 were unchanged
* Nifty Oil & Gas: down 2.5%; Nifty Metal: down 2.0%; Nifty IT: up 0.6%

BSE                                              NSE

Sensex:74775.74, down 1092.06 points or 1.4%     Nifty 50: 23547.75, down 359.40 points, or 1.5%

End

US$1 = INR 95.00

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Avishek Dutta and Akul Nishant Akhoury

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