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Market Commentary

Benchmark equity indices ended sharply lower on Friday, May 29 , with the NIFTY 50 slipping below the 23 ,600 mark amid broad - based selling pressure across sectors . Investor sentiment remained cautious following the IMD’s monsoon forecast at 90 % of the Long Period Average (LPA), while a rise in India VIX reflected heightened market volatility . Selling pressure intensified during the final hour of trade due to MSCI rebalancing -related adjustments .

* At the closing bell, the Sensex declined by 1,092 .06 points or 1.44 % to settle at 74 ,775 .74 , while the Nifty tumbled 359 .40 points or 1.50 % to close at 23 ,547 .75 .

* On the sectoral front, almost all sectors ended in the red, reflecting widespread profit booking and a risk - off sentiment . Major weakness was witnessed in Nifty Oil & Gas, Metal, Auto, and Healthcare stocks . The only pocket of resilience was seen in the Nifty IT index, which outperformed the broader market .

* Gift Nifty signals a flat opening for the Indian market . Nifty spot in today's session is likely to trade in the range of 23 ,350 - 23 ,800 .

Global Updates

* Wall Street preserved a highly resilient front to finish its final regular session of the month in positive territory . A softening curve at the long end of sovereign debt markets gave growth indices a highly protective cushion, comfortably shielding mega - cap valuations from intermediate macro crosscurrents .

* The global macro framework is shifting into the new calendar month with highly sensitive geopolitical undertones . While a 60 - day tentative truce framework remains actively mediated on the back - channels to secure transit across the Strait of Hormuz, a definitive executive signature has yet to finalize the accord .

* Asian regional layouts are advancing with high confidence this morning, completely looking past localized emerging market volatility to mirror New York's late - week technology expansion :

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