Indian equities closed higher on Friday, May 22, with benchmark indices recovering from early volatility as financial stocks led gains amid improving global risk sentiment.
The BSE Sensex rose 231.99 points, or 0.31%, to close at 75,415.35, while the NSE Nifty 50 added 64.60 points, or 0.27%, to settle at 23,719.30. Banking counters outperformed broader markets, pushing the Bank Nifty up 1.15% to 54,055.35. The Nifty Financial index also gained 1.17% to end at 25,531.50.
Financial heavyweights remained the primary drivers of the session. Axis Bank and Shriram Finance advanced nearly 3% each, while ICICI Bank and HDFC Bank posted gains between 1% and 2%. Buying interest in lenders strengthened after the Reserve Bank of India board approved a record dividend payout of ₹2.86 lakh crore to the central government, improving sentiment around fiscal positioning and liquidity conditions.
Markets also drew support from easing global concerns around geopolitical tensions, although gains remained capped as Brent crude climbed above $105 per barrel amid continuing uncertainty in the Middle East.
The Indian rupee staged a sharp recovery during the session, strengthening by 63 paise to close at 95.73 against the U.S. dollar after recently touching record lows.
Among individual stocks, Trent gained 3.02%, while Axis Bank rose 2.56% and Shriram Finance climbed 2.87%. On the downside, Max Healthcare declined 6.22%, Sun Pharma fell 2.47%, and ITC slipped 2.06%.
In corporate developments, Wipro fixed June 5, 2026, as the record date for its ₹15,000 crore share buyback at ₹250 per share. Sun Pharmaceutical Industries reported a 26% year-on-year rise in fourth-quarter profit to ₹2,714 crore and announced a dividend of ₹5 per share. Eicher Motors posted a 12% increase in Q4 net profit to ₹1,520 crore, supported by a 16% rise in revenue.
Technical indicators continue to suggest a mildly positive trend for the broader market, though analysts see immediate resistance for the Nifty in the 23,800 to 23,900 range. A sustained move above those levels could strengthen momentum toward the 24,000 mark.