Share Market Today: Nifty Breaks 23,550 in Sharp Final-Hour Selloff

Indian Stock Market Today | Indian equity benchmarks plummeted to end at their lowest points of the day on Friday, May 29, 2026, following a sharp selloff in the final hour of trade.

Frontline indices oscillated within a narrow range for most of the session due to persistent geopolitical uncertainty around the US-Iran war.

However, intensified late-day liquidations dragged the Nifty below the 23,500 mark. Market breadth remained weak with the Advance-Decline ratio at 1:2.

At the Closing Bell:

• BSE Sensex: Plunged 1,092.06 points to close at 74,775.74
• Nifty 50: Fell 359.40 points to settle at 23,547.75
• Nifty Bank: Declined 614.65 points to finish at 54,239.20

Why did the Indian Stock Market Crash Today?

1. Uncertainty Over Trump Approval

Reports indicated that Washington and Tehran reached a draft agreement on Thursday to extend their ceasefire and reopen the strategic Strait of Hormuz.

However, the deal currently awaits final approval from U.S. President Donald Trump, prompting aggressive weekend profit-taking by risk-averse investors.

2. Monsoon Forecast Downgrade

Adding domestic macro pressure, the India Meteorological Department (IMD) officially lowered its southwest monsoon forecast from 92% to 90% of the long-period average.

This raises concerns over below-normal rainfall between June and September, threatening rural demand and food inflation stability.

3. MSCI Rebalancing Volatility

Global passive funds executed mandatory index adjustments during the final 30 minutes of the session. This massive volume reshuffle amplified institutional selling pressure and triggered a rapid down-move right before the closing bell.

Also Read: MSCI Adjustments to take place on May 29

Nifty Today & Major Indices Overview

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 5 points lower at 23,902.15, reached a high of 24,002.80 and closed at 23,547.75.

• Immediate Support: 23,470
• Immediate Resistance: 23,700

BANK NIFTY: Opened 105.55 points lower at 54,748.30, reached a high of 55,184.45 and closed at 54,239.20.

• Immediate Support: 54,000
• Immediate Resistance: 54,600

Top Trending Stocks Today

• PC Jeweller: Stock jumped over 4% after the company reported a strong Q4 performance, with net profit rising 61% YoY to ₹152.9 crore and revenue growing 33% YoY to ₹927.3 crore.
• GMR Airports: Stock rose nearly 3% after the company posted a strong Q4 turnaround, reporting a net profit of ₹302.4 crore against a loss of ₹237.6 crore last year. Revenue increased 38% YoY to ₹3,938.2 crore.
• Wipro: Stock gained more than 1% after the company announced a partnership with ServiceNow to implement agentic AI workflows across key enterprise functions.

World Markets, Crude & Gold Prices

• Global Equities: Asian markets traded mixed, while European markets were broadly higher and remained on track to close May with gains.
• Crude Oil: Oil futures steadied on Friday, but were still headed for their steepest weekly decline in recent months. Brent crude futures for July hovered around $94.05 per barrel.
• Gold Prices: The yellow metal gained on Friday on hopes of a potential U.S.-Iran ceasefire, but remained on track for a third straight monthly decline amid rate hike concerns.

Also Read: Why the World is Running After Copper

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