Stock Market Updates: Sensex Rises Over 450 Points, Nifty Above 24,850; Infosys, HDFC Bank Gain

Last Updated:May 29, 2025, 09:25 IST

The Indian equity benchmarks opened on a strong note on Thursday, May 29, 2025, supported by positive global cues

Sensex Today: The Indian equity benchmarks opened on a strong note on Thursday, May 29, 2025, supported by positive global cues. The BSE Sensex rose 479 points, or 0.59%, to trade at 81,791, while the NSE Nifty50 advanced 131 points, or 0.53%, to 24,884 in early trade.

Investor sentiment received a boost following a US federal court decision that struck down former President Donald Trump’s bid to impose broad reciprocal tariffs. A three-judge panel of the US Court of International Trade ruled that the 1977 International Emergency Economic Powers Act does not permit such unilateral trade actions, offering some relief to global markets.

In the broader market, both the Nifty MidCap and Nifty SmallCap indices were trading higher, gaining 0.43% and 0.60% respectively, reflecting broad-based buying interest.

All sectoral indices were in the green in early trade. Gains were led by the Nifty IT index, up 1.1%, followed by the Nifty Metal index with a 0.9% rise, and the Nifty Private Bank index, which added 0.5%.

Global Cues

In a major global development, a US federal trade court ruled that former President Donald Trump exceeded his authority by imposing reciprocal tariffs, striking down a key part of his trade policy. The court clarified that the 1977 International Emergency Economic Powers Act does not permit such unilateral trade actions. This legal decision, combined with Nvidia’s blockbuster quarterly earnings, helped lift investor sentiment across global markets.

Asian equities traded in the green following the ruling and Nvidia’s performance. Japan’s Nikkei gained 1.16% and the Topix rose 1.11%, while South Korea’s Kospi added 1.07%. In Australia, the ASX200 edged up 0.27%. Investors in the region are also watching for the Bank of Korea’s policy decision and tracking semiconductor stocks after Nvidia reported a 73% year-on-year surge in data center revenues.

Despite positive futures movement, US markets ended lower overnight as investors weighed corporate earnings and the minutes from the Federal Open Market Committee (FOMC) meeting. The S&P 500 fell 0.56%, the Nasdaq Composite slipped 0.51%, and the Dow Jones lost 0.58%. According to the Fed minutes, officials noted that the recent tariff hikes were broader and steeper than expected, fueling uncertainty around trade policy and raising downside risks to employment and growth, along with persistent inflation concerns.

Still, the Federal Reserve signaled a patient approach, citing steady economic growth, a resilient labor market, and moderately tight policy conditions as reasons to hold off on immediate changes. With supportive global trends and steady inflows from foreign and domestic institutional investors, Indian markets may look to extend gains, barring any unexpected volatility from derivatives expiry or earnings surprises.

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