Sensex and Nifty Surge Nearly 1% as Market Heavyweights Rally

On Friday, the Sensex and Nifty indices saw a remarkable rebound, rising nearly 1% due to strong performances from major companies such as Reliance Industries and HDFC Bank. The BSE index surged by 769.09 points, while the Nifty gained 243.45 points. Despite the overall positive trend, Sun Pharma faced a decline after reporting a significant drop in profits. Asian markets showed mixed results, and global oil prices dipped slightly. This article provides a comprehensive overview of the current stock market dynamics.

By Narendra Chaudhary May 23, 2025, 16:53 IST

Market Overview

Mumbai: The benchmark indices, Sensex and Nifty, experienced a significant rebound on Friday, climbing nearly 1% due to strong buying activity in major companies like Reliance Industries, HDFC Bank, and ITC.

After a sluggish start, the 30-share BSE index surged by 769.09 points, or 0.95%, closing at 81,721.08. At its peak during the day, it reached 81,905.17, marking an increase of 953.18 points, or 1.17%.

The NSE Nifty also saw a notable rise, gaining 243.45 points, or 0.99%, to finish at 24,853.15.

Among the top gainers in the Sensex, companies like Eternal, Power Grid, ITC, Bajaj Finserv, Nestle, Axis Bank, Kotak Mahindra Bank, and Adani Ports performed exceptionally well.

In contrast, Sun Pharma was the sole underperformer, witnessing a decline of nearly 2% after announcing a nearly 19% drop in its consolidated net profit for the quarter ending March 31, 2025.

Asian markets showed mixed results, with Japan's Nikkei 225 and Hong Kong's Hang Seng indices closing positively, while South Korea's Kospi and Shanghai's SSE Composite index ended in the red.

European markets were trading higher during mid-session deals.

In the US, markets concluded largely unchanged in Thursday's overnight trading.

The global oil benchmark, Brent crude, saw a slight decrease of 0.23%, settling at USD 64.29 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 5,045.36 crore on Thursday.

The previous day, the BSE Sensex had dropped by 644.64 points, or 0.79%, closing at 80,951.99, while the Nifty fell by 203.75 points, or 0.82%, to 24,609.70.