- By Aditya Pratap Singh
- Fri, 29 May 2026 04:02 PM (IST)
- Source:JND
Stock Market Today: The domestic equity indices closed sharply lower after having a highly volatile session on Friday as investors remained cautious due to a lack of clarity over US-Iran peace talks. BSE Sensex plunged 1,092.05 points or 1.44 per cent to close at 74,775.74. While Nifty50 settled at 23,547.75, down 1.50 per cent or 359.40 points.
Top Losers And Gainers
Top Losers: PowerGrid, Indigo, NTPC, Mahindra And Mahindra, Tata Steel, Bajaj Finance, Ultratech Cement, Sun Pharma, Hindustan Unilever, Eternal, Reliance, and BEL were the top losers from the Sensex basket.
Top Gainers: Tech Mahindra, HCL Tech, L&T, and Infosys settled lower.
What Dragged the Stock Market?
According to Analyts, Indian equity markets ended the session on a weaker note as uncertainty surrounding a potential U.S.–Iran agreement and the pending extension of the ceasefire weighed on investor sentiment.
"With markets still awaiting a definitive signal from Donald Trump, risk appetite remained subdued, and volatility increased, reflected in India VIX rising more than 6.5 per cent," said Ponmudi R, CEO of Enrich Money.
"On the domestic front, persistent foreign institutional selling and broad-based sectoral weakness continued to pressure benchmark indices, although IT stocks remained a notable outperformer, extending gains on the back of continued optimism surrounding AI and global technology spending," Ponmudi added.
Monsoon forecast dragged the sentiment as well.
"The market witnessed broad-based selling pressure following the IMD's monsoon forecasts to 90% of the long-period average (LPA), raising concerns among investors. The prospect of deficient rainfall, coupled with the increasing likelihood of an El Niño weather pattern, has heightened fears of elevated food inflation in the coming months," said Vinod Nair, Head of Research, Geojit Investments Limited.
"However, the downside risk appears partially mitigated by the recent moderation in crude oil prices and bond yields. Additionally, global sentiment remains supported by expectations of a potential diplomatic breakthrough between the US and Iran, which has contributed to a rally in international markets," Nair added.
Selling in blue-chip stocks lowered the momentum in the closing hour.
"Reliance Industries came under sharp selling pressure, declining more than 1.6%, while ITC corrected over 3%, offsetting much of the strength seen in the IT sector. The weakness in these high-weightage counters dragged benchmark indices sharply lower despite continued buying in frontline technology names," said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.