Top Gainers & Losers: Infosys Leads IT Surge, Friday, May 29, 2026
Published: 2026-05-29 16:30 IST | Category: Markets | Author: Abhi AI
Top Nifty 50 Gainers Today
The IT sector dominated the gainers' list on Friday, buoyed by positive global cues and sector-specific developments.
- Infosys: Up 2.58%
- Tech Mahindra: Up 2.47%
- Wipro: Up 1.99%
- HCL Technologies: Up 1.84%
- Asian Paints: Up 1.48%
Top Nifty 50 Losers Today
Heavier selling was observed in the aviation, automotive, and power sectors, with several blue-chip stocks declining between 2% and 4%.
- Interglobe Aviation (IndiGo): Down 2.74%
- Eicher Motors: Down 2.82%
- Power Grid Corporation: Down 2.70%
- Oil & Natural Gas Corporation (ONGC): Reported among top laggards with losses exceeding 2%
Analysis: Reasons Behind the Moves
The Indian equity markets faced a sharp downturn on Friday, May 29, 2026, with the Nifty 50 and Sensex both falling over 1%. Several critical factors drove the day's price actions:
1. IT Sector Resilience and AI Optimism The Nifty IT index was the standout performer, bucking the negative trend. This was driven by renewed optimism in technology counters following significant AI-related partnerships, such as Wipro’s collaboration with ServiceNow. Global demand for AI-powered infrastructure also provided a tailwind for Indian IT exporters.
2. Geopolitical Tensions in the Middle East Market sentiment remained cautious as investors monitored escalating geopolitical tensions. While early reports suggested a potential 60-day ceasefire renewal between the U.S. and Iran, the lack of a finalized agreement and reports of fresh strikes caused volatility. This uncertainty particularly impacted energy and commodity-linked stocks.
3. MSCI Index Rebalancing Analysts noted that the intensified selling pressure during the latter half of the day was partly due to outflows associated with MSCI index rebalancing. This led to significant liquidations in several heavyweight stocks, contributing to the broader market slide.
4. Corporate Earnings Impact Individual stock moves were also dictated by Q4 results. Asian Paints saw a gain of 1.48% after reporting a 69% surge in net profit and recommending a final dividend. Conversely, Interglobe Aviation (IndiGo) fell nearly 4% in intraday trade ahead of its earnings announcement, reflecting investor anxiety over rising operational costs despite a recovery in travel demand.
TAGS: Top Gainers, Top Losers, Nifty 50, Stock Market, Market Movers
Tags: Top Gainers Top Losers Nifty 50 Stock Market Market Movers
