The Indian stock market witnessed a strong rally on May 6, 2026, with the BSE Sensex surging 940.73 points to settle at 77,958.52. The broader Nifty index also gained significantly, closing above the 24,300 mark. The positive sentiment was driven by robust buying in heavyweight stocks, with InterGlobe Aviation (IndiGo) emerging as one of the top gainers.
Market performance highlights
The Sensex opened on a strong note and maintained its upward momentum throughout the trading session. It touched an intraday high of 78,100.23 before settling at 77,958.52, up 1.22% from the previous close. The Nifty50 index climbed 287.45 points to end at 24,312.80, representing a gain of 1.19%.
Sectoral trends
All major sectoral indices ended in the green, with banking, auto, and IT stocks leading the charge. The Nifty Bank index rose 1.8%, while the Nifty Auto index gained 1.5%. IT stocks also saw strong buying interest, with the Nifty IT index advancing 1.3%.
Top gainers and losers
Among the top gainers on the Nifty50 were InterGlobe Aviation (IndiGo), which surged 4.2%, followed by Maruti Suzuki India (up 3.8%), and HDFC Bank (up 2.9%). On the losing side, only a handful of stocks ended in the red, with Dr. Reddy's Laboratories declining 0.8% and Sun Pharmaceutical Industries slipping 0.5%.
Broader market sentiment
The broader market also participated in the rally, with the BSE Midcap index rising 1.1% and the BSE Smallcap index gaining 0.9%. Market breadth was positive, with 1,892 stocks advancing on the BSE compared to 1,234 declining.
Analysts attributed the sharp upswing to strong global cues, including a rally in US markets and expectations of a rate cut by the Federal Reserve. Additionally, domestic institutional investors (DIIs) were net buyers, purchasing equities worth Rs 2,450 crore, while foreign institutional investors (FIIs) also turned net buyers after a prolonged selling streak.
Outlook
Market experts believe that the positive momentum could continue in the near term, supported by strong corporate earnings and easing inflation concerns. However, they advise investors to remain cautious about global geopolitical risks and any unexpected policy changes by central banks.
