The Indian equity market ended its two-session losing streak on a positive note Thursday, buoyed by global cues following a U.S. court’s decision to block former President Donald Trump’s proposed reciprocal tariffs. Gains in key sectors like information technology, metals, real estate, and pharmaceuticals helped drive the rebound.
The benchmark BSE Sensex advanced 320.70 points, or 0.39%, to close at 81,633.02. During intraday trading, the index surged as much as 504.57 points to touch 81,816.89, reflecting high volatility linked to the expiry of monthly derivative contracts. The broader NSE Nifty 50 index added 81.15 points, or 0.33%, to settle at 24,833.60, swinging in both directions before ending firmly in positive territory.
Sectoral Performance and Market Sentiment
Investor sentiment improved throughout the day, especially in the latter half of the session. Information technology stocks led the gains, along with strong performance from the metal, realty, and pharma sectors.
Commenting on the day’s movement, Mehul Kothari, Deputy Vice President – Technical Research at Anand Rathi, noted that the Nifty opened higher but faced pressure in the initial hours. However, it recovered strongly in the latter part of the day, maintaining a close above the 24,800 mark.
Technical Outlook for Nifty 50
Kothari highlighted that the Nifty has established a technical base around the 24,700 level, which aligns with the S3 Camarilla weekly pivot—a key support zone. Additionally, a bullish divergence on the 15-minute chart signals potential upward momentum.
“For the session on May 30, the 24,775–24,880 range will be crucial. A consistent move above this band may trigger fresh buying interest. Conversely, failing to hold above this level could result in selling pressure,” he said. Resistance is pegged at 25,000, with immediate support at 24,700.
Stock Recommendations Under ₹200
Looking ahead to the start of the new trading week, Kothari shared three stock picks for investors interested in lower-priced opportunities:
- Suzlon Energy
Buy near ₹65; Target: ₹69; Stop Loss: ₹63 - Tata Teleservices (Maharashtra) Ltd
Buy near ₹76.50; Target: ₹82; Stop Loss: ₹74 - Aditya Birla Fashion and Retail Ltd
Buy near ₹88.50; Target: ₹93; Stop Loss: ₹86
These recommendations are based on technical patterns and are suitable for short-term traders looking to capitalize on current market conditions.
The Indian stock market showed resilience on Thursday, drawing strength from favorable global developments and robust sectoral performance. Technical indicators suggest a cautious optimism heading into the next session, with key levels expected to guide short-term market direction.
