Stock market today: Indian benchmark indices ended higher on Thursday, May 29, as a late-session rally helped the Nifty 50 and Sensex break their two-day losing streak.

The stocks, which opened on a positive note amid a fresh wave of optimism toward risky assets after a U.S. federal court blocked President Trump’s proposed “Liberation Day” tariffs, gave up their early gains as the session progressed, only to recover most of their losses by the close.

The Nifty 50 concluded the session with a gain of 81 points, or 0.33%, settling above the 24,800 mark at 24,833, while the Sensex ended at 81,633, up 320 points, or 0.39%.

Although the frontline indices moved back and forth, the broader markets continued to maintain strength. The Nifty Smallcap 100 index closed with a gain of 0.6%, while the Nifty Midcap 100 ended with a return of 0.55%.

Despite stable global cues and favorable domestic factors, the market is being weighed down by inconsistent FII inflows, which is reflected in the recent rise in volatility.

On the economy front, the country’s growth figures for the March quarter are scheduled to be released on Friday, May 30, with projections indicating that GDP likely rose to 6.9% in Q4FY25, driven largely by agricultural activity and service exports, according to the median estimate of 22 economists polled by Mint.

This would take full-year 2024–25 GDP growth to 6.3%, lower than the second advance estimate of 6.5% released by the National Statistical Office in February.

On the commodity front, gold prices slipped on Thursday to their lowest levels in over a week, as reduced tariff risks eroded demand for safe-haven assets. Crude oil prices rose up to 2%, marking a second straight session of gains, supported by potential surge in demand on easing tariff concerns.

Sectoral Performance: Metal stocks shine; PSU banks snap 4-day winning streak

In sector-specific action, metal stocks resumed their upward momentum, propelling the Nifty Metal Index to a gain of over 1.21%, making it the top sectoral performer. Nifty Realty index also ended with over 1% gain, followed by Nifty IT, Nifty Pharma, and Nifty Media, all of which closed with gains of over 0.50%.

On the losing side, the Nifty PSU Bank Index emerged as the top sectoral loser, as the sector lost steam after rallying for four consecutive sessions, causing the index to decline 0.24%.

FMCG stocks continued to trade in negative territory, with the Nifty FMCG Index ending another day in the red, down 0.13%.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.