Markets gained momentum during the first half of Friday’s trading session, with the Nifty 50 rising to 23,808.30, reflecting an increase of 153.60 points or 0.65 percent, and the Sensex climbing to 75,718.85, up 535.49 points or 0.71 percent as of 1:23 PM. Both indices, which opened flat, continued to rise throughout the session, approaching the intraday highs seen on Thursday.
Market breadth on the BSE was notably positive. Out of 4,199 stocks traded, 2,338 advanced while 1,665 declined, with 196 remaining unchanged. The Nifty 50’s Advance-Decline Ratio was strong at 39:11. During the session, 110 stocks reached 52-week highs, in contrast to 28 hitting 52-week lows, and 170 stocks were locked in upper circuits compared to 119 in lower circuits.
Trent led the gainers on the Nifty 50, rising 2.94 percent to ₹4,292.90 on volumes exceeding 669,000 shares. Shriram Finance followed with an increase of 2.85 percent to ₹940.80, while Wipro climbed 2.68 percent to ₹205.10 on significant volume of over 23.7 million shares worth ₹48,106 crore. Axis Bank gained 2.59 percent to ₹1,285.80, and Asian Paints advanced 2.38 percent to ₹2,660.60.
Conversely, Max Healthcare faced sustained selling pressure for a second consecutive session, dropping 4.70 percent to ₹1,039.80 on volumes surpassing 8.09 million shares worth ₹83,594 crore, making it the most actively traded loser by value. Sun Pharmaceutical declined by 1.59 percent to ₹1,861.30, while Power Grid Corporation shed 1.50 percent to ₹295.05. ONGC fell 1.44 percent to ₹291.60, and ITC dropped 1.33 percent to ₹303.95 on heavy trading, with over 19.3 million shares exchanged.
SBI Securities indicated that the immediate resistance zone for the Nifty lies between 23,850 and 23,870, an area the index is now approaching. Support is identified at the 23,670 to 23,650 range. A fall below 23,650 could lead the index toward the next support band of 23,470 to 23,340, while a breakout above 23,870 may extend the rally to 23,960 to 24,050. For the Sensex, support is positioned at 75,300, with resistance at 76,100.
Options data displayed a cautious stance near higher levels, with significant call writing observed at the 23,800 and 24,000 strikes, indicating resistance at these thresholds. On the put side, substantial open interest was noted at the 23,700 strike, followed by 23,600, suggesting near-term downside protection being established around current levels.
The upward movement of the session followed a flat opening that was buoyed by early cues from the Gift Nifty, which indicated a 153-point positive start. The broader recovery was also bolstered by declining crude oil prices, with Brent futures around $104 and the rupee strengthening to 96.20. Domestic Institutional Investors had supported the market on Thursday, purchasing equities worth ₹2,492 crore amidst Foreign Institutional Investor outflows of ₹1,891 crore, which appeared to sustain sentiment into the afternoon session.
Published on May 22, 2026.
