Stock Market Today: Sensex Jumps 400 Points, Nifty Rises Above 24,800 Amid Volatility

Broader markets reversed early losses, with both midcap and smallcap indices climbing 0.4 per cent each. Meanwhile, market volatility ticked higher, with the India VIX rising 2 per cent to 17.75

Sector-wise, pharma and healthcare stocks led the gains

Source : PTI

Indian stock market kicked off the Wednesday, May 21 session on a positive note, as investors brushed aside concerns over geopolitical tensions, rising crude oil prices, and sustained foreign investor outflows. The Nifty 50 and Sensex broke a three-day losing streak, buoyed by strong cues from Asian markets.

At around 09:50 AM, the Sensex had gained 499.22 points, or 0.61 per cent, reaching 81,685.66, while the Nifty 50 rose 148.30 points, or 0.60 per cent, to 24,832.20. Market breadth was positive, with 1,962 stocks advancing, 958 declining, and 143 remaining unchanged.

Broader Market Update

Broader markets reversed early losses, with both midcap and smallcap indices climbing 0.4 per cent each. Meanwhile, market volatility ticked higher, with the India VIX rising 2 per cent to 17.75.

Sectorial Update

Sector-wise, pharma and healthcare stocks led the gains. The Nifty Pharma index jumped 1.7 per cent, while the healthcare index added 1 per cent. In contrast, consumer durables and oil & gas stocks came under pressure, with both sectors shedding nearly 1 per cent in early trading.

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In response, crude oil prices surged on Wednesday amid fears of rising geopolitical tensions. Gold also climbed nearly 2 per cent as investors shifted toward safe-haven assets. However, Asian equities showed resilience, with most markets continuing their upward momentum from the previous session.

Global Markets

On Wall Street, stocks paused their recent rally, ending a six-day winning streak for the S&P 500. All three major indices closed lower: the Dow Jones slipped 0.27 per cent, the Nasdaq Composite dropped 0.4 per cent, and the S&P 500 also fell 0.4 per cent.

In contrast, Asian markets traded higher. Australia's ASX, South Korea's KOSPI, and Hong Kong’s Hang Seng all advanced, with the KOSPI gaining nearly 1 per cent and the Hang Seng up 0.5 per cent. Japan’s Nikkei 225 and Topix pared earlier gains to hover just below the flatline.