Stock Market Today Highlights: Equities trade higher as BSE Sensex ends 232 points higher, Nifty closes above 23,700

The rupee strengthened by 18 paise to trade at 96.18 against the US dollar in early Friday trade, supported by a slight decline in crude oil prices, early indications of easing geopolitical tensions, and continued intervention by the Reserve Bank of India in the currency market.

Forex market participants said investor sentiment improved after remarks by US Secretary of State Marco Rubio suggested that diplomatic discussions related to the Iran situation were progressing positively.

While Rubio clarified that he did not want to sound “overly optimistic,” the comments nevertheless provided temporary relief to financial markets.
Traders said Brent crude prices eased closer to the USD 104 per barrel level, helping reduce immediate pressure on the Indian currency.

In the interbank foreign exchange market, the rupee opened at 96.30 against the US dollar before strengthening to 96.18 in early trading, gaining 18 paise compared to its previous closing level.

The frontline indices began the day on a flat note and as the day progressed, they surged towards the previous day's high.

Coming to Nifty, the zone of 23670-23650 will act as a crucial support for the index while the resistance lies in the zone of 23850-23870 zone.

On the downside, if the index slips below the level of 23650 then the next support is placed the zone of 23470-23340.

In an event of a surge above 23870, the index can experience an extension of the rally towards 23960-24050.

On the options front, meaningful call writing witnessed across 23800 & 24000 strikes. On the put side, 24700 has a substantial open interest, followed by 23600 strike.

Nifty's Advance Decline Ratio is stronger at 39:11.

Speaking of Sensex levels, support is at 75,300 while resistance is at 76,100.

Indian equity benchmarks traded in the green on Friday morning, with the BSE Sensex rising 422.59 points, or 0.56%, to 75,605.95 at 10:25 am.

The NSE Nifty 50 also gained 118.30 points, or 0.50%, to trade at 23,773.00 amid positive market sentiment and buying across key sectors.

The sharp turn lower yesterday from 23860 reminds us that the trading range that persisted over the previous seven days, remain. However, despite the disappointing close, Nifty succeeded in closing above the 10 day SMA for the first time since 8th May. This encourages us to start the day on a positive note and play for a breakout move aiming 23900-24430. Alternatively, inability to float above 23600 will negate such hopes, though a collapse is less expected, says Anand James, Chief Market Strategist, Geojit Investments Limited.

"An important recent trend in the market is buy on dips and sell on rallies. Low openings are bought into and high openings are getting sold. Institutional activity must be playing a role in this. Retail traders have to handle this trend very deftly.

Brent crude declining to below $105 and rupee appreciating to 96.20 from 96.96 level are positive developments.

Brisk activity is happening in the broader market. Small and midcaps coming out with good results and optimistic growth projections are getting positive response from the market.

FII selling and fears of more FII selling are weighing on largecaps despite their relatively cheaper valuations. Momentum is in SMIDs even though safety is in largecaps. This dichotomy will persist till FIIs turn buyers in India,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex opened trading on a positive note on Friday. At 9:18 AM, Nifty50 was trading at 23,693.55, up 39 points or 0.16%. BSE Sensex was at 75,318.26, up 135 points or 0.18%.

Asian stock markets moved higher on Friday as optimism surrounding ongoing US-Iran negotiations supported investor sentiment, although rising crude oil prices continued to keep inflation worries alive.

Market confidence remained upbeat for a second consecutive session amid hopes that diplomatic efforts could help restore stability to global energy supplies following weeks of uncertainty caused by the Middle East conflict. Despite this optimism, oil prices still recorded gains during the day.
US Secretary of State Marco Rubio said discussions aimed at ending the conflict could make progress, adding that Pakistani mediators might assist in securing an agreement.

Rubio told reporters that Pakistani representatives were expected to travel to Tehran, expressing hope that the move would help push negotiations forward.
Meanwhile, Donald Trump cautioned on Wednesday that the negotiations were at a critical stage, balanced between reaching a deal and the possibility of renewed military action.

Trump stated that if satisfactory outcomes were not achieved, developments could escalate rapidly, adding that preparations were already in place.
A ceasefire reached on April 8 brought an end to weeks of fighting involving the US-Israel alliance and Iran. However, a permanent peace agreement has yet to materialise, leaving financial markets highly sensitive to every new development.

Iran said it was examining proposals from the United States while warning that any fresh attack would be met with a strong response, as both sides continued discussions amid concerns of further escalation.

One of the major unresolved issues remains the Strait of Hormuz, which continues to remain effectively shut despite the ceasefire. The strategic passage normally handles around one-fifth of global energy transportation.

Across Asia, Tokyo emerged as the top performer, with the Nikkei surging more than 2%.

Taipei gained close to 1.5%, while markets in Hong Kong, Shanghai, Sydney, Seoul, Wellington, Jakarta, Bangkok, Manila, Singapore, and Kuala Lumpur also traded in positive territory.

The regional rally followed a cautiously optimistic session on Wall Street, where US equities ended slightly higher.
Investor attention also shifted to South Korea, where unionised employees at Samsung Electronics were set to vote on Friday regarding a tentative wage agreement that helped prevent a large-scale strike.

Samsung and its labour union reached a provisional deal late Wednesday after last-minute talks mediated by the government, avoiding an 18-day strike that had been scheduled to begin on Thursday.

Index in the daily chart formed a bearish candlestick pattern with a higher high and a higher low signaling selling pressure at higher levels around the 54,000 levels. Index likely to consolidate in the range of 52,700-54,700. Bank Nifty holding above the key support area of 52,700-52,400 will lead to a pullback towards the recent breakdown area of 54,000 and 54,700.

Index need to form higher high and higher low on a sustained basis in the daily chart and a move above the breakdown area of 54,400-54,700 to signal a pause in the recent downtrend. Key support is placed at 52,700-52,400 levels being the confluence of the lower band of the 8th April gap area and the 61.8% retracement of the previous pullback (49,955-57,456).

India’s benchmark equity indices ended Thursday’s trading session slightly in the red after witnessing sharp fluctuations throughout the day, as investors booked profits in select IT, financial, and oil & gas counters.

The 30-share BSE Sensex slipped 135.03 points, or 0.18%, to close at 75,183.36. During intraday trade, the index touched a peak of 75,945.79 and later dropped to a low of 74,996.78, swinging nearly 949 points between the day’s high and low.

Meanwhile, the NSE Nifty50 edged down by 4.30 points, or 0.02%, to settle at 23,654.70.

Among the Sensex constituents, major declines were seen in shares of Bajaj Finance, Tech Mahindra, Hindustan Unilever, Infosys, Bajaj Finserv, and Bharti Airtel.

On the gaining side, InterGlobe Aviation, Trent, Bharat Electronics, and Adani Ports emerged as some of the key outperformers during the session.

On 21st May 2026, the BSE Sensex closed at 75,183.36, declining by -135.03 points (-0.18%). The index opened with a strong gap-up of around 414 points and touched an intraday high of 75,945.79 during the opening trade itself. However, the market failed to sustain at higher levels, and continuous selling pressure was witnessed throughout the session. The index gradually drifted lower and touched an intraday low of 74,996.78 before finally settling at 75,183.36, indicating cautious sentiment and lack of strong buying interest at elevated levels.

Sector-wise, Capital Goods, Services, Industrials, Realty, Telecommunication, Healthcare, and Auto sectors witnessed selective buying interest during the session. On the other hand, IT, Focused IT, FMCG, Utilities, MidSmall Private Banks Quality Tilt, and Private Banks remained under pressure and ended in negative territory. Banking indices traded largely subdued, while broader market participation remained mixed.

Technically, Sensex continued to trade within a broader consolidation range, where 74,400–74,500 is likely to act as immediate support zone, while 76,100–76,200 may remain a key resistance area in the near term. Sustaining above resistance levels could trigger fresh upside momentum, whereas weakness below support may increase short-term selling pressure.

The market structure continues to remain range-bound with stock-specific action dominating the broader trend. Traders may continue to adopt a cautious approach near resistance zones, while selective buying interest is still visible in domestic-focused sectors. Overall sentiment may remain volatile amid global cues and profit-booking at higher levels, says Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited.

The rupee recovered by 50 paise from its record closing low to end Thursday at 96.36 against the US dollar, supported by a decline in crude oil prices from elevated levels amid indications of easing geopolitical tensions and probable intervention by the central bank.

According to forex market participants, the domestic currency strengthened following recent geopolitical developments. However, investors continue to closely monitor geopolitical uncertainties and the impact of fluctuating crude oil prices on the currency market.

Forex traders also noted that the rupee’s one-year forward rate crossed the key 100/USD level on Wednesday, suggesting that currency markets are factoring in a weakening trend for the USD/INR pair over the coming year.

In the interbank foreign exchange market, the rupee began trading at 96.25 per dollar. During the session, it touched an intraday high of 96.05 and slipped to a low of 96.60. By the close of trade on Thursday, the currency settled at 96.36 against the dollar, marking a gain of 50 paise over the previous close.

On Wednesday, the rupee had fallen to an all-time low of 96.95 during the session before ending the day at a record closing low of 96.86.

Index in the daily chart formed a bearish candlestick pattern with a higher high and a higher low signaling selling pressure at higher levels around the recent breakdown area of 23,800-23,900. Going ahead, index to extend the last seven sessions consolidation in the range of 23,200-23,900. Only a move above the recent breakdown area of 23,800-23,900, will signal a pause in the overall corrective trend.

Index need to start forming higher high and higher low on a sustained basis in the daily chart and a move above the breakdown area of 23,800-23,900 to signal strength. Nifty has key support at 23,200-23,000 levels being the confluence of the lower band of the 8th April bullish gap area and the 61.8% retracement of the previous pullback (22,182-24,601).