Nifty50 rises 152 points (0.63%) — India Market Digest 22 May 2026

Bulls reclaimed the driver's seat today as Nifty50 surged past the 24300 mark to close at 24350, while Sensex breached the psychological 80100 barrier. Despite a cautious start near 24180, aggressive buying in heavyweights pushed the index to a high of 24520. This recovery suggests strong support at lower levels, signaling that investors are buying every single meaningful market dip.

Reliance Industries led the charge with a 1.8% jump to ₹1482, likely buoyed by positive energy sector sentiment. IT majors Infy and TCS followed suit, gaining over 1% as global tech demand stabilizes. Conversely, banking giants HDFC Bank and Axis Bank faced selling pressure, dragging the financial index down. Wipro also struggled, shedding 1.1% as investors rotated capital out of lagging tech players into higher growth energy stocks right now.

Stay focused on large-cap leaders as they provide the necessary cushion during volatility. Tomorrow, watch the 24500 resistance level closely; a sustained move above this could trigger a fresh rally. Keep a sharp eye on Reliance, as its momentum often dictates the broader index direction. Ensure your portfolio isn't overly concentrated in banks given current sectoral weakness.

Market Mood: Bullish

Stable global oil prices and a steady rupee provided a calm backdrop for domestic equities, while investors await the upcoming RBI policy minutes for clues on future interest rate trajectories.