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Indian Equity Markets Extend Recovery Driven by Heavy Buying

Wednesday, May 20, 2026
5 min read
Indian Equity Markets Extend Recovery Driven by Heavy Buying

The Indian equity markets finally managed to extend their recovery this afternoon, pushing firmly positive after that sluggish start. It was all driven by some heavy buying in Reliance Industries , auto stocks , and a few select financial counters. That managed to chew up some of the lingering worry about those high US bond yields and all the geopolitical noise floating around.

By two thirty, the numbers were moving. The NSE Nifty 50 was sitting near 23,663. That’s up a little bit, maybe 0.19%, or about 45 points total. It clawed back nearly 265 points from where it started, which was the low of 23,397. The BSE Sensex followed suit, climbing over 130 points, trading above 75,330. It had dropped nearly 600 points in the opening session, so this rebound felt earned, maybe a little too late.

The real engine behind the afternoon jump? Heavy buying in Reliance . That stock surged 2.7%. It was clearly the biggest driver for the whole benchmark to climb. Then you had Bajaj Finserv , M&M , Axis Bank , and even the IndiGo parent, InterGlobe Aviation , all trading higher. It helped the general mood, at least a bit.

Sector-wise, Auto and Oil & Gas were the clear winners. The NIFTY Auto index ticked up nearly 1%. That was supported by strength in M&M and Maruti Suzuki . Oil & Gas saw a bigger gain, over 1.3%, thanks to buying in Reliance and some other energy names. Realty stocks also managed a positive turn, which was a decent sign.

But don't get too excited. The broader market wasn't exactly running wild. Midcap indices actually managed to outperform the main benchmarks, the NIFTY Midcap 100 creeping up 0.3%. Microcaps gained more than half a point. It just shows people are being selective. They’re not throwing all their risk appetite back in right now.

Still, there was definitely a chill in the air. Some pockets were holding onto the worry. FMCG , Media , Chemicals , and Consumer Durables kept trading under pressure. It signals that investors aren't suddenly going for a broad risk-on spree. The NIFTY Media index was the real laggard, actually falling about 1.4%.

And volatility? It stayed high. India VIX was hovering near 18.7. That number just reflects the ongoing caution. Traders are still uneasy about interest rates, crude oil prices, and how the currencies are behaving globally.

Technically, the Nifty bouncing above 23,600 suggests some support is emerging. Analysts had been pointing to that 23,400 to 23,300 zone earlier today. But the real question remains where they go next. Traders are still keeping a very close eye on the 23,750 to 23,900 range. You need a real breakout above that zone before you see that strong bullish momentum actually return.

It’s funny, this whole intraday turnaround happened even with weak global cues. The pressure from surging US Treasury yields, crude prices sitting above $110 a barrel, and the general strain on emerging market currencies is still there. But domestic investors, they seemed to use the morning dip as an opportunity. They bought into the heavyweight and cyclical sectors instead. It’s a very localized reaction, really.

Written by Gree News Team — Senior Editorial Board

Gree News Team covers international news and global affairs at Gree News. Our collective of senior editors is dedicated to providing independent, accurate, and responsible journalism for a global audience.

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