Stock market live updates for Friday, May 22, 2026: GIFT Nifty is indicating a positive opening for BSE Sensex and Nifty50. Analysts suggest that indices must sustain above crucial resistance levels in the coming sessions to confirm a stronger recovery trend. Support zones will remain vital for short-term market stability. Market sentiment appears fragile, with potential for further downside. The 23,400 mark is expected to act as key support.
Oil Prices and Global Factors
Oil prices climbed on Friday as investors remain uncertain about a breakthrough in US-Iran negotiations. Differences persist over Tehran's uranium stockpile and authority over the Strait of Hormuz. Despite the uptick, oil is on track for a weekly decline. Asian equities extended gains for a second session, and US equity futures edged higher amid optimism from the talks. Wall Street's S&P 500 ended marginally higher after a volatile Thursday. Gold prices slipped on Friday, heading for a second consecutive weekly loss due to rising oil prices, inflation concerns, and hawkish interest rate expectations.
Nifty Outlook by Bajaj Broking
The Nifty daily chart formed a bearish candlestick pattern with a higher high and higher low, signaling selling pressure around the breakdown area of 23,800-23,900. The index is likely to consolidate in the 23,200-23,900 range. A move above 23,800-23,900 would signal a pause in the corrective trend. Key support is at 23,200-23,000, the confluence of the lower band of the April 8 bullish gap and the 61.8% retracement of the previous pullback (22,182-24,601).
Bank Nifty Outlook by Bajaj Broking
Bank Nifty formed a bearish candlestick with a higher high and higher low, indicating selling pressure near 54,000. The index is likely to consolidate between 52,700 and 54,700. Holding above the key support zone of 52,700-52,400 could lead to a pullback toward 54,000 and 54,700. A sustained move above the breakdown area of 54,400-54,700 is needed to signal a pause in the downtrend. Key support is at 52,700-52,400, the confluence of the lower band of the April 8 gap and the 61.8% retracement of the previous pullback (49,955-57,456).
Sensex Round-up for Thursday
India's benchmark equity indices ended Thursday slightly in the red after sharp fluctuations, as investors booked profits in IT, financial, and oil & gas stocks. The BSE Sensex slipped 135.03 points (0.18%) to close at 75,183.36, swinging nearly 949 points between a high of 75,945.79 and a low of 74,996.78. The NSE Nifty50 edged down 4.30 points (0.02%) to settle at 23,654.70. Major decliners included Bajaj Finance, Tech Mahindra, Hindustan Unilever, Infosys, Bajaj Finserv, and Bharti Airtel. Gainers included InterGlobe Aviation, Trent, Bharat Electronics, and Adani Ports.
Near-term Outlook for Sensex
On May 21, 2026, the BSE Sensex closed at 75,183.36, down 135.03 points (0.18%), after opening with a gap-up of around 414 points to an intraday high of 75,945.79. Continuous selling pressure dragged the index to a low of 74,996.78 before settling. Sector-wise, capital goods, services, industrials, realty, telecom, healthcare, and auto saw selective buying, while IT, FMCG, utilities, and private banks remained under pressure. Technically, Sensex trades in a consolidation range with immediate support at 74,400-74,500 and resistance at 76,100-76,200. Sustaining above resistance could trigger fresh upside; weakness below support may increase selling pressure. The market remains range-bound with stock-specific action. Traders should adopt a cautious approach near resistance, says Hitesh Tailor, Technical Research Analyst at Choice Equity Broking.
Rupee Rebounds
The rupee recovered 50 paise from its record closing low to end Thursday at 96.36 against the US dollar, supported by a decline in crude oil prices and probable central bank intervention. The currency opened at 96.25, touched an intraday high of 96.05 and a low of 96.60. On Wednesday, the rupee fell to an all-time low of 96.95 during the session and closed at a record low of 96.86. The one-year forward rate crossed the key 100/USD level on Wednesday, indicating a weakening trend for the pair over the coming year.
