29 May 2026: Sensex, Nifty Trade In Narrow Range In Mid-Session

Sensex and the Nifty 50 traded in a narrow range on Friday morning following reports of a possible extension of the truce between the US and Iran. Rally in the information technology (IT) shares supported the market.

At 12:50 pm, the Sensex was down slightly at 0.097% while the Nifty 50 was down 0.25% during the same time.

The movement came after reports emerged that the US and Iran had agreed to renew a 60-day truce while both sides continued negotiations to end the conflict. The report, citing sources, said the proposed deal is awaiting approval from US President Donald Trump.

IT Stocks Lead Gains

Wipro, Infosys and Tata Consultancy shares jumped up to 4% in early trade. In the process, they pushed the Nifty IT index by more than 2%. At 12:51 pm, the Nifty IT index was trading 2.15% higher.

Buying interest was also visible in PSU bank and pharma shares. The gains in technology stocks helped offset weakness in other sectors. Metal, FMCG and chemical stocks remained under pressure through the session.

Market participants have been closely tracking geopolitical developments in West Asia over the past few weeks as tensions in the region pushed crude oil prices higher and increased risk aversion across global markets.

Stock-Specific Action

• Vedanta shares rallied over 1% in intraday trade post receiving the highest domestic credit rating in more than a decade from ICRA.

• Reliance Industries shares jumped nearly 1.4% intraday following the company’s announcement of its 49th annual general meeting (AGM) on 19 June.

• Ashok Leyland shares fell 2% in intraday trade though it posted a net consolidated profit of nearly ₹1,291 crore in Q4 FY26.

• Bharat Dynamics shares slid 8.5% in early trade after the company reported weak Q4 FY26 earnings.

Several firms are expected to declare their Q4 FY26 results today, including:

• Asian Paints

• Antony Waste Handling Cell

• Bajaj Hindusthan Sugar

• Blue Chip India

• Concord Biotech

• Glenmark Pharmaceuticals

• InterGlobe Aviation

Other Highlights

• Tata Consultancy Services has announced a strategic partnership with Mistral, a French AI behemoth, for developing enterprise AI solutions. TCS will also set up a Centre of Excellence for Mistral.

• Hexagon Nutrition’s initial public offering (IPO), which will hit primary markets on 5 June, will be available in the price band of ₹42-45 per share.

Also Read - Timex Group India Clocks ₹800 Crore Revenue In FY26; E-Commerce Sales Surge 90%

Afternoon Trade Outlook

Traders are likely to remain cautious in afternoon trade as markets wait for further clarity on the proposed US-Iran truce deal and its impact on global crude oil prices. Analysts feel continued strength in IT and banking shares could support benchmark indices, though weakness in metal and FMCG stocks may keep gains capped.

Sources:

Business Standard

The Economic Times