New Delhi, May 22 -- The Indian equity benchmarks experienced a highly volatile session, with early gains evaporating by the closing bell. Boosted by temporary relief in global geopolitical tensions and a cooling crude oil market, the Nifty 50 opened with a strong gap-up but steadily lost momentum, closing marginally lower at 23,654.70, down 4.30 points or 0.02%.

Concurrently, the BSE Sensex faced a sharper reversal, plunging from its intraday highs to settle 162 points lower. Despite the flat-to-negative headline performance from the heavyweights, broader market sentiment remained resiliently constructive. This was clearly evidenced by a positive advance-decline ratio, with 1,910 stocks advancing against 1,374 stocks declining. On the s...