Stock markets snap 3-day decline on buying in banking shares; sensex jumps 410 points

Representative image | Photo Credit: PTI

Benchmark stock indices Sensex and Nifty rebounded on Wednesday (May 21, 2025), snapping their three-day falling streak on the back of buying in blue-chips HDFC Bank and ICICI Bank and a firm trend in Asian peers.

The 30-share BSE Sensex jumped 410.19 points or 0.51% to settle at 81,596.63 with 24 of its constituents ending higher and six ending lower. During the day, it surged 835.2 points or 1.02% to a high of 82,021.64.

The NSE Nifty climbed 129.55 points or 0.52% to 24,813.45.

Among Sensex firms, Bajaj Finserv rose the most by 2.02%. Tata Steel, Sun Pharma, Tech Mahindra, Bajaj Finance, NTPC, Nestle, Tata Motors, Hindustan Unilever and Mahindra & Mahindra also advanced.

IndusInd Bank fell the most by 1.39%. Kotak Mahindra Bank, Power Grid and ITC were among the laggards.

Moody's Ratings said on Wednesday (May 21, 2025)that India is well-positioned to deal with the negative effects of U.S. tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy.

In a note on India, the agency said government initiatives to boost private consumption, expand manufacturing capacity and increase infrastructure spending will help offset the weakening outlook for global demand.

The BSE midcap gauge advanced 0.90% and smallcap index by 0.51%.

Among sectoral indices, capital goods (1.65%), realty (1.58%), industrials (1.35%), healthcare (0.93%) and teck (0.81%) were the gainers.

Consumer durables emerged as the only laggard.

As many as 2,292 stocks advanced while 1,685 declined and 138 remained unchanged on the BSE.

Among Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng in settled in the positive territory while Japan's Nikkei 225 index ended lower.

Markets in Europe were trading in the negative territory. U.S. markets ended lower on Tuesday (May 20, 2025).

"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 - U.S. trade negotiations," Vinod Nair, Head of Research, Geojit Investments Limited, said.

Global oil benchmark Brent crude jumped 1.19% to $66.16 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹10,016.10 crore on Tuesday (May 20, 2025), according to exchange data.

Sensex tanked 872.98 points or 1.06% to settle at 81,186.44 while Nifty tumbled 261.55 points or 1.05% to 24,683.90.

Published - May 21, 2025 05:08 pm IST