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Market Commentary

Benchmark indices ended on a negative note on 21 May during the weekly Sensex expiry session, as markets witnessed volatile trade and profit booking at higher levels . Although crude oil prices cooled off and the Indian Rupee recovered after touching record low levels, selling pressure continued to weigh on the indices through the session .

* At close, the Sensex declined 135 .03 points or 0 .18% to settle at 75 ,183 .36 , while the Nifty slipped 4 .30 points or 0 .02 % to close at 23 ,654 .70 .Sectoral performance remained mixed during the session .

* Buying interest was witnessed in Nifty Realty, Consumer Durables, and Healthcare stocks, whereas selling pressure was visible in Nifty IT, FMCG, and Media counters .

* 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 ,400 - 23 ,850 .

Global Updates

* Wall Street delivered a mixed, highly structural performance on Thursday . While cooling energy costs and selective short - covering allowed blue - chips to secure moderate gains, the core benchmarks encountered visible supply near key psychological overhead levels .

* Macro templates caught a significant deflationary breath overnight as global energy markets plunged . Reports of coordinated, positive progress in back - channel peace negotiations between Washington and Tehran forced systematic trading desks to aggressively unwind geopolitical risk premiums . The dynamic completely altered the "cost - push" panics that have dominated multi - asset spreadsheets all week .

* Asia - Pacific markets traded higher Friday morning trade as investors assess U.S .- Iran diplomatic efforts at reaching a peace deal in the Middle East . Japan’s core inflation eased more than expected in April to its lowest level since March 2022 , weakening the case for an early rate hike by the Bank of Japan .

* Japan’s Nikkei 225 rose 1.36 %, while the Topix added 0 .55 %. South Korea’s Kospi was up 0 .52 %, while the Kosdaq Index jumped over 3%.

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