Sensex Climbs 400 Points to 75,700; Nifty Crosses 23,790 

Indian equity benchmarks opened on a firm note on Thursday, May 21, with the Sensex rising over 400 points to trade near 75,700 levels and the Nifty advancing to 23,790 in early morning deals. Strong buying interest was visible in PSU bank and metal stocks, lifting broader market sentiment.

The 30-share BSE Sensex was quoting at 75,700 with a gain of around 400 points, or 0.50 per cent. The broader NSE Nifty 50 climbed about 130 points, or 0.55 per cent, to hover around 23,790. The rally followed a modestly positive close on Wednesday, when the Sensex ended at 75,318 and Nifty at 23,659 after recovering from early losses.

Sectoral Strength in PSU Banks and Metals

PSU banking stocks led the charge amid renewed domestic institutional interest. Several public sector lenders traded higher as investors bet on steady credit growth and policy continuity. Metal shares also attracted buyers, tracking firm global commodity cues and expectations of sustained demand in key sectors.

Traders pointed to selective buying in frontline names even as foreign institutional investors remained net sellers. Data showed FIIs offloaded shares worth ₹1,597 crore on Wednesday, though domestic institutional investors countered with purchases of nearly ₹1,968 crore.

Positive Asian Cues Support Sentiment

Sentiment received a boost from sharp gains across several Asian markets. South Korea’s KOSPI surged over 7 per cent, while Japan’s Nikkei climbed nearly 3.6 per cent. Hong Kong’s Hang Seng ended marginally higher. The upbeat regional mood came after Wall Street closed in the green on Wednesday, with the Dow Jones, Nasdaq, and S&P 500 all posting decent gains.

Market participants remained watchful of global factors, including crude oil prices and currency movements. Despite some pressure on the rupee in recent sessions, domestic buying helped indices stay resilient.

Market Breadth and Volumes

Market breadth was largely positive in the initial hours, with advances outpacing declines on both BSE and NSE. Midcap and smallcap segments also saw selective participation, though gains were more pronounced in largecaps. Turnover remained healthy as traders adjusted positions ahead of key global earnings triggers and domestic developments.

Analysts noted that the indices have been consolidating in a range in recent weeks. The current upmove could test immediate hurdles if buying sustains through the day. Key support levels for Nifty are seen around 23,500-23,600, while resistance lies near 23,900-24,000.

FII-DII Dynamics in Focus

The contrasting behaviour of foreign and domestic investors continues to shape near-term flows. While FIIs have been net sellers over the past month, DIIs have provided strong support with consistent buying. This cushion has helped the market absorb global volatility stemming from geopolitical tensions and monetary policy signals from major economies.

Outlook for the Day

Traders will now watch for sustained momentum in PSU banks and metals. Any fresh trigger from global markets, particularly US tech earnings, could influence the trajectory in later hours. Analysts remain cautiously optimistic, citing steady domestic macros and resilient corporate earnings in select pockets.

As the trading session progresses, focus will remain on whether the indices can hold above psychological levels and extend the morning gains. Investors are advised to monitor global cues closely while maintaining strict risk management in the current volatile environment.

The market is expected to trade with a positive bias if buying in key sectors continues, though profit-booking at higher levels cannot be ruled out.