Indian stock markets made a comeback on Wednesday, May 21, after facing losses for three consecutive sessions. The benchmark indices ended the day on a positive note, with the Sensex closing at 81,596.63, up by 410 points or 0.51%, and the Nifty ending at 24,813.45, gaining 129 points or 0.52%. The broader mood remained optimistic through the day. The Nifty Bank index also closed higher at 55,075.10, marking a gain of 0.36%.
“Markets exhibited a broadly positive undertone today; however, overall sentiment remained confined within a narrow range, indicating risk of “sell on rallies” strategy in the near future amid escalating uncertainty around India – US trade negotiations. There is a growing perception that India may not derive the anticipated benefits initially projected during the peak of the tariff war, which has since de-escalated,” said Vinod Nair, Head of Research, Geojit Investments.
Let’s take a look at the key highlights today
Intraday highs and broader market movement
In the intraday trading, the Sensex climbed over 800 points to touch an intraday high of 82,021.64, while the Nifty also rallied past the 24,946 mark. The BSE Midcap and Smallcap indices gained up to 1%.
Top performers of the day
Among the top gainers in today’s session were Tata Steel, which rose 1.92%, and Bajaj Finserv, up 1.80%. Tech Mahindra also saw healthy gains, ending 1.50% higher . Other notable performers included Nestle India, Sun Pharma, and Bajaj Finance, all of which registered over 1% gains.
Stocks that struggled
Maruti Suzuki ended lower, while ITC dipped 0.46%. Power Grid, Kotak Mahindra Bank, and IndusInd Bank also closed in the red.
Sectoral performance
On May 21, sectoral performances front, Aviation stocks led the gains, rising 3.14%, followed by shipbuilding, which climbed 2.41%. The footwear sector added 2.04%, while capital goods and hospitality advanced 1.57% and 1.33% respectively.
Meanwhile, the photographic products sector saw the steepest fall, dropping 4.37%. Consumer durables declined by 1.43%, and alcohol stocks dipped 0.73%. The logistics sector also ended in the red, down 0.44%.
Market Breadth
The overall market breadth remained strong, with 1,753 stocks advancing, 1,095 declining, and 93 remaining unchanged out of a total of 2,941 traded.
Circuit breakers
A total of 75 Stocks hit the upper circuit including names like Raymond, The Grob Tea Company, and A B Infrabuild—indicating strong investor interest in select mid- and small-cap counters. On the other hand, 65 stocks were locked in the lower circuit, including Indo Tech Transformers, Viviana Power Tech, and Teerth Gopicon.