Indian equity markets ended sharply lower on 29 May, with the Sensex falling 1,092 points and the Nifty slipping below the 23,600 mark amid broad-based selling pressure and weak global cues.
The decline was driven by sustained caution in global markets, especially due to ongoing uncertainty around US–Iran tensions and their impact on crude oil prices. Energy price volatility remained a key concern, as traders worried about potential supply disruptions through critical shipping routes.
Sectorally, auto, energy, oil & gas, and metal stocks were among the worst hit, dragging benchmark indices lower. Banking and financial stocks also faced selling pressure, adding to the downside momentum.
However, IT stocks provided some cushion to the market. Tech Mahindra, HCL Technologies, Wipro, Infosys, and Larsen & Toubro ended among the top gainers on the Nifty, helping limit the extent of the fall.
On the losing side, InterGlobe Aviation, Eicher Motors, Bajaj Auto, Power Grid Corporation, ONGC, and NTPC were among the top laggards, falling between 2–4%, reflecting broad-based weakness across cyclical and energy-linked sectors.
Broader markets mirrored the weakness, with mid-cap and small-cap indices also ending lower as investors booked profits after recent gains. Market breadth remained firmly negative throughout the session.
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