The Indian stock market witnessed a sharp decline on Friday, May 29, 2026, as heavy profit booking weighed on investor sentiment. The NIFTY 50 closed at 23,547.75, falling 359.40 points or 1.50%, marking a broad-based sell-off across sectors.
The decline came despite reports suggesting progress toward a US–Iran agreement, with both sides reportedly reaching a deal to extend the ceasefire and reopen shipping through the Strait of Hormuz. However, investors chose to lock in gains ahead of the weekend, resulting in sustained selling pressure throughout the session.
The benchmark index opened weak and extended its losses through the trading day. Despite positive geopolitical developments, the market failed to gain traction as investors remained cautious.
Profit taking emerged across sectors, particularly in stocks that had seen recent gains. The overall market sentiment turned risk‑off, reflecting concerns over potential volatility in global developments.
| Company Name | LTP | Change (₹) | % Change | Volume (Lakhs) | Value (₹ Crores) |
| Tech Mahindra | 1,480.00 | 24.40 | 1.68 | 39.55 | 586.82 |
| HCL Technologies | 1,182.00 | 16.80 | 1.44 | 124.47 | 1,474.01 |
| Wipro | 204.10 | 2.52 | 1.25 | 827.35 | 1,704.08 |
| Nestlé India | 1,443.00 | 15.50 | 1.09 | 130.63 | 1,857.70 |
| Larsen & Toubro | 4,090.00 | 42.50 | 1.05 | 48.83 | 1,997.97 |
| Company Name | LTP | Change (₹) | % Change | Volume (Lakhs) | Value (₹ Crores) |
| Power Grid | 287.80 | -12.35 | -4.11 | 774.07 | 2,255.19 |
| IndiGo (InterGlobe Aviation) | 4,420.00 | -150.00 | -3.28 | 13.59 | 603.17 |
| ONGC | 265.80 | -8.25 | -3.01 | 744.03 | 1,982.11 |
| Max Healthcare | 965.00 | -28.45 | -2.86 | 153.89 | 1,489.16 |
| Eicher Motors | 7,213.00 | -206.00 | -2.78 | 14.65 | 1,057.94 |
Information technology stocks showed relative resilience, with Tech Mahindra, HCL Technologies and Wipro posting gains. FMCG stocks such as Nestlé India also provided limited support to the market.
In contrast, power, aviation and energy stocks witnessed sharp selling pressure, led by declines in Power Grid, IndiGo and ONGC. The broad-based profit booking across sectors reflected cautious sentiment despite positive geopolitical signals.
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The NIFTY 50 ended sharply lower on May 29, 2026, as investors booked profits ahead of the weekend despite optimism surrounding a potential US–Iran deal. Tech Mahindra and select IT stocks provided limited support to the index.
However, declines in Power Grid, IndiGo and ONGC weighed heavily on the benchmark. Overall, the session reflected a risk‑averse approach, with investors preferring caution amid evolving global developments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 29, 2026, 4:02 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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