Sensex, Nifty rise as US-Iran ceasefire boosts market mood
Synopsis
Indian equities opened Friday on a positive note, with IT stocks surging over 2% as easing crude oil prices and US-Iran ceasefire hopes improved global risk appetite. With Brent crude below $92 and Asian markets surging up to 3%, the macro tailwind for India is real — but fragile, contingent on geopolitical calm holding in West Asia.
Key Takeaways
Sensex rose up to 352 points to an intraday high of 76,220 on 29 May ; Nifty50 traded near 24,002 .
Nifty IT surged over 2% , leading sectoral gains; realty, media, and metals also advanced.
Brent crude fell 1.24% to $91.55/barrel ; WTI dropped nearly 2% to $87.37/barrel .
Bharti Airtel , ONGC , Eicher Motors , BEL , and HDFC Bank were among top Nifty losers.
Asian markets surged, with Hang Seng and KOSPI rising up to 3% ; S&P 500 gained 0.58% overnight.
Sensex climbed as much as 352 points or 0.46% to an intraday high of 76,220 in early trade on Friday, 29 May, while the Nifty50 rose nearly 100 points or 0.40% to 24,002, as investors tracked ceasefire developments between the United States and Iran and weighed the impact of easing crude oil prices on India's macroeconomic outlook.
Sectoral Gains and Losers
IT stocks led the morning rally, with the Nifty IT index surging over 2%. Mid-small IT, telecom, healthcare, pharma, and PSU banking stocks also posted gains. Realty, media, and metal indices traded in positive territory.
On the downside, chemicals, consumer durables, and financial services-linked indices faced selling pressure, while FMCG stocks traded largely flat. Among top Nifty losers were Bharti Airtel, ONGC, Eicher Motors, BEL, and HDFC Bank.
Crude Oil Decline Lifts Sentiment
International benchmark Brent crude slipped 1.24% to $91.55 per barrel, while US West Texas Intermediate (WTI) crude fell nearly 2% to $87.37 per barrel. According to market experts, declining crude prices could support India's macroeconomic outlook and the rupee, reducing the import bill and easing inflationary pressure.
Analysts noted that stronger-than-expected corporate earnings are also emerging as a key positive for equities, with sectors such as defence, capital goods, financials, and pharmaceuticals continuing to show growth potential.
Global Markets Provide Tailwind
Asian markets traded firmly in the green, with Japan's Nikkei rising more than 2%, while Hong Kong's Hang Seng and South Korea's KOSPI surged up to 3%. Overnight, Wall Street closed higher, with the S&P 500 advancing 0.58% and the Nasdaq gaining nearly 1%.
This comes amid heightened geopolitical sensitivity in West Asia, where any escalation or breakdown in the US-Iran ceasefire could swiftly reverse the risk-on mood in global markets, including India.
What to Watch
Investors will closely monitor further ceasefire developments and any shift in crude oil trajectory. A sustained fall in oil prices would be a meaningful macro positive for India, which imports over 85% of its crude requirements. The direction of FII flows and the next batch of quarterly earnings will also be key near-term triggers for the benchmark indices.
Point of View
But at $91 Brent, it is still elevated enough to weigh on the current account. The ceasefire narrative is inherently unstable, and any flare-up in West Asia could unwind these gains quickly.
NationPress
15 Jul 2026
Frequently Asked Questions
Why did Sensex and Nifty rise on 29 May 2025?
Sensex and Nifty rose on 29 May 2025 primarily as investors tracked positive developments around a potential US-Iran ceasefire and reacted to falling crude oil prices. Stronger-than-expected corporate earnings also supported the upbeat sentiment.
Which sectors gained the most in today's trade?
IT stocks led the gains, with the Nifty IT index rising over 2%. Mid-small IT, telecom, healthcare, pharma, and PSU banking sectors also advanced, while realty, media, and metals traded in positive territory.
How did crude oil prices move and why does it matter for India?
Brent crude fell 1.24% to $91.55 per barrel and WTI dropped nearly 2% to $87.37 per barrel. Lower crude prices are significant for India because the country imports over 85% of its oil needs, and cheaper crude reduces the import bill, supports the rupee, and eases inflation.
Which stocks were among the top Nifty losers?
Bharti Airtel, ONGC, Eicher Motors, BEL, and HDFC Bank were among the top losers on the Nifty50 during morning trade on 29 May.
How did global markets perform overnight?
Asian markets traded firmly higher, with Japan's Nikkei gaining over 2% and Hong Kong's Hang Seng and South Korea's KOSPI surging up to 3%. On Wall Street, the S&P 500 advanced 0.58% and the Nasdaq gained nearly 1%.
