Stock Market Highlights: BSE Sensex ends 790 points up, NSE Nifty50 above 23,650; crude oil prices still elevated, Trump-Xi meeting in focus

1. Infosys: Current Price 1,095 | Price Change -28.10 (-) | -2.51% (-)
2. Tech Mahindra: Current Price 1,343 | Price Change -31.60 (-) | -2.30% (-)
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7. Maruti Suzuki: Current Price 13,075 | Price Change -28.00 (-) | -0.22% (-)
8. Axis Bank: Current Price 1,255 | Price Change -1.11 (-) | -0.09% (-)

1. Bharti Airtel: Current Price 1,884 | Price Change 94.30 (+) | 5.28% (+)
2. Eternal: Current Price 245.82 | Price Change 8.00 (+) | 3.37% (+)
3. HDFC Bank: Current Price 769.55 | Price Change 20.00 (+) | 2.67% (+)
4. Sun Pharma: Current Price 1,863 | Price Change 38.40 (+) | 2.11% (+)
5. Adani Ports SEZ: Current Price 1,773 | Price Change 35.60 (+) | 2.05% (+)
6. M&M: Current Price 3,174 | Price Change 62.10 (+) | 2.00% (+)
7. Bajaj Finance: Current Price 912.15 | Price Change 16.00 (+) | 1.79% (+)
8. NTPC: Current Price 396.30 | Price Change 5.86 (+) | 1.50% (+)
9. Kotak Bank: Current Price 383.20 | Price Change 5.56 (+) | 1.47% (+)
10. Trent: Current Price 4,132 | Price Change 47.90 (+) | 1.18% (+)

“On 14th May 2026, the BSE Sensex witnessed a strong rebound session and surged to around 75,398, gaining nearly 790 points, as broad-based buying emerged after recent corrective weakness. During intraday trade, the index moved above the 75,600 mark, reflecting improved sentiment and strong recovery momentum.

Banking, Financial Services, Pharma, Metals and select Healthcare stocks led the rally, while broader markets also participated positively. The recovery suggests bargain buying at lower levels after the recent sell-off phase.

From a technical perspective, the Sensex formed a strong bullish candle on the daily chart, indicating a sharp rebound from lower support zones and renewed short-term strength. The index has managed to reclaim the crucial 75,000 psychological mark, which improves the immediate technical setup.

Momentum indicators such as RSI are showing recovery from oversold territory, while price action suggests the index is attempting to resume its broader uptrend after recent volatility. Immediate support is now placed near 74,600 – 74,800, followed by stronger support around 74,500. On the upside, resistance is seen near 76,200 – 76,000, while a decisive breakout above this zone may open the path towards 76,500 in the near term.

Overall, the market structure suggests a positive short-term bias with stock-specific action likely to remain active. Sustained strength above resistance zones will be crucial for continuation of the rebound, while dips toward support levels may attract fresh buying interest,” says Aakash Shah, Research Analyst, Choice Equity Broking Private Limited.

"Indian equities staged a counterintuitive recovery from intraday lows and ended higher despite the rupee hitting a record low and crude remaining elevated. Investor confidence was bolstered in anticipation of potential government measures to mitigate INR weakness, including consideration of bond tax relief for foreign investors and potential tightening of the Liberalized Remittance Scheme to stem capital outflows. Sentiment was further anchored by positive cues from the Trump-Xi summit, which raised hopes of expanding economic cooperation. Sectorally, while pharma and healthcare advanced owing to sectoral rotation, metals gained on higher metal prices and improving demand expectations from China. Conversely, the IT stocks extended their decline,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex rallied strongly in trade on Thursday. Nifty50 ended the day at 23,689.60, up 277 points or 1.18%. BSE Sensex closed at 75,398.72, up 790 points or 1.06%.

"Buying interest emerged in the Bank Nifty index from the previous session’s low, helping the index close with a bullish candlestick pattern on the daily chart. However, the index once again attempted to test the crucial resistance zone of 54,200 but failed to sustain and close above this level. The broader outlook continues to remain weak unless Bank Nifty decisively crosses 54,800, which is also aligned with its 20-day SMA. On the downside, immediate support is placed at 53,200, while resistance is seen near 54,500 levels,” says Vatsal Bhuva, Technical Analyst at LKP Securities.

Shares of Zydus Lifesciences surged nearly 6 per cent after the company said its board will convene on May 19 to evaluate a proposal for a share buyback. The drugmaker also announced the acquisition of US-based cancer therapy company Assertio in a deal valued at $166.4 million.

During Thursday’s trading session, Zydus Lifesciences stock climbed to an intraday peak of Rs 993.80. The shares have gained around 8 per cent over the past month and are up nearly 10 per cent on a one-year basis. Over a longer horizon, the stock has generated returns of approximately 93 per cent in three years and close to 61 per cent in five years.

In a stock exchange filing issued on Wednesday, the company stated that its board of directors will meet on May 19 to review and approve financial results for the January-March quarter of FY26. Alongside the quarterly earnings, the board will also deliberate on a proposal involving the repurchase of fully paid-up equity shares.

The latest development follows the company’s earlier Rs 600 crore share buyback carried out through the tender route at a price of Rs 1,005 per share. The repurchase price represented a premium of nearly 9 per cent over the stock’s trading level on the record date. Prior to that, the company had completed another buyback programme worth Rs 750 crore in 2022.

Stock market rally today: BSE Sensex and Nifty50 rallied strongly in trade on Thursday, rising over 1% on strong global cues. While Nifty50 crossed 24,700, BSE Sensex rose over 1,000 points intraday. At 1:56 PM, Nifty50 was trading at 23,749.40, up 337 points or 1.44%. BSE Sensex was at 75,599.37, up 990 points or 1.33%.

Shares of sugar manufacturers witnessed sharp declines of up to 7 per cent on Thursday after the government imposed an immediate ban on sugar exports until September 30 this year to improve domestic supply and keep prices under control.

On the BSE, Dhampur Sugar Mills dropped 6.95 per cent, while Dwarikesh Sugar Industries fell 6.65 per cent. Uttam Sugar Mills declined 5.60 per cent and Bajaj Hindusthan Sugar slipped 4.95 per cent. Shares of Mawana Sugars lost 4.83 per cent, while Dalmia Bharat Sugar and Industries weakened 3.98 per cent.

Among other sugar-related stocks, Triveni Engineering & Industries declined 3.85 per cent, Rajshree Sugars & Chemicals fell 3.42 per cent, and Sakthi Sugars slipped 2.92 per cent. Balrampur Chini Mills dropped 2.52 per cent, while Shree Renuka Sugars was down 2.13 per cent.

Meanwhile, shares of Avadh Sugar & Energy fell 1.76 per cent and EID Parry India declined 1.64 per cent.

The Nifty50 rose 339.90 points, or 1.45%, to 23,750, while Sensex gained 1,023.69 points, or 1.37%, to 75,632.67 around 1:45 pm.

BSE Sensex rose 934.33 points, or 1.25%, to 75,543.31, while NSE Nifty50 gained 313.00 points, or 1.34%, to 23,725.60.

Shares of Kalyan Jewellers were already struggling due to weak market sentiment and its removal from the MSCI Standard Index, tumbled to a new 52-week low on Wednesday. The decline has now crossed 40% in under 10 months. Analysts believe that despite the company’s strong core fundamentals, policy-related concerns and negative technical indicators are likely to keep the near-term outlook under strain.

Adding to the pressure, the government on Tuesday raised import duties on gold from 6% to 15% in an effort to curb imports and contain the rupee’s depreciation.

Over the past three trading sessions, shares of Kalyan Jewellers have fallen 16% amid heavy selling across jewellery counters. Investor wealth across companies including Kalyan Jewellers, Thangamayil Jewellery, Sky Gold, Senco Gold and Titan Company has collectively declined by nearly Rs 60,000 crore.

The company’s market valuation has dropped by Rs 7,229 crore between May 8 and May 13. From its 52-week high of Rs 617.70 reached on July 24, 2025, shareholders in Kalyan Jewellers have seen wealth erosion of around Rs 27,130 crore.

Stock market jumped over 1% on Thursday. While BSE Sensex reached 75,428.63, adding 819.65 points or 1.10%, NSE Nifty50 was up to 23,696.55, adding 283.95 points or 1.21%.

Indian equity benchmarks turned flat around 11:15 am after beginning with strong gains. BSE Sensex was trading around 74,695.79, up 86.81 or 0.12% while NSE Nifty50 reached 23,477.30, up 64.70 points or 0.28%.

The rupee began Thursday’s trading session on a weaker footing, slipping 20 paise to touch a fresh record low of 95.86 against the US dollar in early trade, pressured by high crude oil prices and continuing concerns surrounding the West Asia conflict.

Since the outbreak of tensions in West Asia, the Indian currency has declined by more than 6% against the dollar, making it the weakest-performing currency in Asia so far in 2026.

In an effort to safeguard the country’s foreign exchange reserves, India recently increased import duties on gold and silver from 6% to 15%. However, forex traders said the rupee’s movement is likely to depend more on the direction of crude oil prices and geopolitical developments in West Asia than on bullion imports.

At the interbank foreign exchange market, the rupee opened at 95.74 against the American currency before weakening further to an all-time intraday low of 95.86, down 20 paise from the previous close.

On Wednesday, the rupee had already fallen to a record low of 95.80 during the session before ending at 95.66, close to its weakest-ever closing level.

Benchmark indices traded higher, with the Sensex rising 198.06 points, or 0.27%, to 74,807.04, while Nifty50 gained 100.50 points, or 0.43%, to 23,513.10, as of 10:30 am.

Two days of close below the lower bollinger band and a suspected morning star candlestick formation raises hopes of continuation of yesterday’s upswing. As maintained yesterday, we would require a push beyond 23680, to confirm strength. Alternatively, slippage past 23300 could expose 22800, says Anand James, Chief Market Strategist, Geojit Investments Limited.

Oil prices moved higher on Thursday as investors closely tracked the crucial meeting between US President Donald Trump and Chinese President Xi Jinping for any breakthrough related to the Iran conflict, which has severely affected global crude supply flows.

Apart from trade discussions, Trump is also expected to urge China to persuade Tehran to reach an agreement with Washington to bring the conflict to an end. However, market analysts believe Xi may be reluctant to exert excessive pressure on Iran, given the long-standing strategic relationship between Beijing and Tehran.

By 0250 GMT, Brent crude futures had risen 26 cents, or 0.25%, to $105.89 per barrel, while US West Texas Intermediate crude futures gained 32 cents, or 0.32%, to trade at $101.34 a barrel.

Both key oil benchmarks had declined in the previous session amid concerns that rising fuel costs could intensify inflation and prompt further interest rate hikes in the United States. Brent crude had dropped by more than $2 per barrel on Wednesday, while WTI crude fell over $1.

Trump received a ceremonial welcome at Beijing’s Great Hall of the People ahead of his discussions with Xi Jinping, where the agenda is expected to include the fragile US-China trade truce, the Iran conflict and American arms sales to Taiwan.

"Continuous rupee depreciation is becoming a major macro threat for the economy. This year began with rupee at 90 to the dollar. Since then it has steadily depreciated to the present level of 95.70 to the dollar. If crude remains elevated for an extended period, rupee will move to 100. The other major drag on the rupee is the sustained selling by FPIs in the Indian market. Money is moving into markets like the US, Japan, South Korea and Taiwan which are doing very well. So long as the outperformance of these markets and the underperformance of India continues, FPIs will continue to sell, which, in turn, will further drag the rupee down.

The situation will change only if the Strait of Hormuz is opened and crude price falls or the AI trade which is attracting FPI flows into the AI leaders ends. There is no clarity on when this will happen.

Sustained depreciation of rupee has negative implications for the market. Imported inflation will rise. Margins of companies with petroleum based inputs will be impacted. Exporters will benefit. Pharmaceuticals will be a safe bet since the demand for pharmaceuticals is inelastic and this export sector will benefit from rupee depreciation. Textiles will also benefit. IT, though a potential gainer, will continue to be on the back foot due to the Anthropic shock,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Backed by positive global cues, Indian equity benchmarks, Nifty50 and BSE Sensex, opened in green on Thursday. While Nifty50 was above 23,500, BSE Sensex rose over 300 points in opening trade. At 9:16 AM, Nifty50 was trading at 23,519.75, up 107 points or 0.46%. BSE Sensex was at 74,869.76, up 261 points or 0.35%.

"Indian equity markets are expected to open on a positive note, with Gift Nifty trading at 23,545, up by 125 points. Global equities advanced following a largely upbeat session on Wall Street, as investors overlooked elevated PPI data and continued buying in technology and communication stocks. Market participants are also closely watching developments around the Trump-Xi summit.

In the previous session, The Nifty 50 witnessed consolidation after the sharp correction seen over the previous three sessions and ended marginally higher on May 13. However, caution persisted amid continued weakness in the rupee, elevated crude oil prices above the $100 per barrel mark, persistent FII selling, and rising volatility levels.

Technically, the Nifty formed a small-bodied bullish candle with a long upper shadow and minor lower shadow on the daily chart, indicating selling pressure at higher levels along with selective buying support at lower levels. The index continued to maintain a lower high–lower low structure and traded below all key moving averages, all of which remained downward sloping.

The 23,400 level remains a crucial support zone for the market as it coincides with the 50 percent Fibonacci retracement level of the April rally. Sustaining above this level may open the possibility of a pullback toward the 23,600–23,700 zone, followed by the important resistance near 24,000. A decisive move above 24,000 will be required for bulls to regain stronger control. However, failure to hold above 23,400 could drag the index toward 23,200–23,100 in the upcoming sessions.

Derivatives data indicates a cautious undertone in the market. The Nifty Put-Call Ratio (PCR) remained unchanged at 0.93 on May 13, reflecting balanced but cautious positioning by traders amid ongoing volatility.

India VIX, the market fear gauge, rose 0.75 percent to 19.43 and extended its upward move for the fourth consecutive session. The volatility index continues to indicate elevated discomfort among bulls, and analysts believe VIX needs to cool below the 17 mark for confidence to improve significantly.
Option chain positioning indicates immediate support near the 23,400 strike, while strong resistance remains visible around the 23,600–24,000 zone due to aggressive call writing activity at higher levels.

The Nifty Bank remained under pressure and declined by 99 points on May 13. The banking index formed a small-bodied bearish candle with a long upper shadow and minor lower wick, indicating selling pressure at higher levels despite limited buying support near lower zones.
Technically, Bank Nifty maintained its lower high–lower low structure and continued trading below all key moving averages, all of which remained downward sloping. Momentum indicators also remained weak, with RSI staying below the 40 mark at 38.99, while the MACD remained below both the signal and zero lines with expansion in negative histogram bars.

Immediate support for Bank Nifty is placed around 52,777–52,666, while resistance is seen near 54,365–55,050. A sustained breakout above resistance levels will be required to improve sentiment in the banking space.

Overall, the technical setup suggests a positive opening due to supportive global cues, but the broader market structure remains weak as key indices continue to trade below important moving averages amid elevated volatility and persistent selling pressure. Traders are likely to remain cautious unless Nifty decisively reclaims the 24,000 mark,” says Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.

A renewed rally in technology shares pushed Wall Street indices to fresh record highs on Wednesday, despite broader market weakness after another disappointing inflation reading in the United States.

The S&P 500 gained 0.6%, surpassing the previous lifetime high it had touched earlier this week. The Nasdaq Composite also ended at a record level after rising 1.2%, while the Dow Jones Industrial Average slipped 67 points, or 0.1%.

Technology stocks drove the market higher, with companies linked to the artificial intelligence boom rebounding after weakness in the previous session. Micron Technology climbed 4.8%, while On Semiconductor surged 11.1% after AI-driven momentum had briefly cooled a day earlier.

Chip giant Nvidia advanced 2.3% and emerged as the biggest contributor to the S&P 500’s gains due to its massive market value. Investor sentiment around the company also received support after reports that CEO Jensen Huang had been invited to accompany US President Donald Trump on his China visit, where discussions could include the export of Nvidia’s AI chips to the Chinese market.

Earlier in the day, SoftBank Group said its profit for the year ended March jumped nearly five times compared with the previous year, helped by gains from artificial intelligence investments. Meanwhile, Alibaba Group reported faster growth in its AI and cloud businesses during the latest quarter. Its US-listed shares rose 8.2%, even though the company’s overall earnings missed analyst estimates.

Despite the strong performance in technology counters, most non-tech stocks finished lower as broader pressure on Wall Street continued to build.

CMP: 53,450

Index formed a high wave candlestick pattern with a lower high and a lower low signaling extension of the decline and continuation of the downtrend for the fourth session in a row.

Bank Nifty on Tuesday’s session breached the lower band of the last 3 weeks consolidation range 54,200-56,500. Bias continues to remain down below Tuesday’s breakdown area of 54,400 and a follow through weakness will open further downside towards 52,700-52,400 levels being the confluence of the lower band of the 8th April gap area and the 61.8% retracement of the previous pullback ( 49,955-57,456).

Bank Nifty Intraday levels

Resistance: 53,780 & 54,100
Support: 53,050 & 52,700

Benchmark stock indices Sensex and Nifty closed slightly in the green on Wednesday, ending a four-session losing run, supported by value buying in metal, energy and consumer-focused shares amid broadly positive global market cues.

Still, gains remained limited as the rupee slid to a fresh record low, while persistent foreign institutional outflows, elevated crude oil prices and ongoing geopolitical tensions continued to weigh on investor sentiment, according to traders.

The BSE Sensex, comprising 30 shares, advanced 49.74 points or 0.07% to finish at 74,608.98. During the trading session, the index swung sharply within a range of 1,057.09 points, touching an intraday high of 75,191.57 and a low of 74,134.48.

Meanwhile, the NSE Nifty 50 index ended 33.05 points, or 0.14%, higher at 23,412.60.

The rupee touched a fresh lifetime low of 95.80 against the US dollar on Wednesday before ending the session at 95.66, close to its weakest-ever closing mark, as persistent pressure from high crude oil prices and geopolitical tensions in West Asia outweighed optimism surrounding lower dollar demand following import restrictions.

Currency market participants said expectations of intervention by the Reserve Bank of India, along with reduced gold import demand due to higher duties, helped limit sharper losses in the USD/INR pair. However, continued uncertainty in West Asia and the upward movement in oil prices kept the domestic currency under pressure.

Traders noted that the rupee has emerged as Asia’s weakest-performing currency so far this year, declining more than 6%, amid elevated crude prices, dollar strength and concerns linked to the ongoing West Asia conflict that have hurt investor sentiment.

In the interbank foreign exchange market, the rupee opened at 95.52, recovering 16 paise from its previous record-closing low. During a highly volatile trading session, the currency moved between an intraday high of 95.51 and a low of 95.80 against the US dollar before ending at 95.66, marginally stronger by 2 paise compared with the previous close.

According to Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, Indian equities are expected to trade in a broader range in the near term, as elevated Brent crude prices and a weakening rupee continue to create a fragile environment for domestic markets and remain among the key concerns for investors. Sustained FII outflows are likely to cap directional upside, even as the final leg of the Q4FY26 earnings season and selective policy tailwinds provide stock- and sector-specific support.

Defence stocks are expected to remain in focus, with the Nifty Defence Index surging 2.1%, driven by a convergence of strong Q4FY26 earnings, an acceleration in domestic order inflows, and investor positioning ahead of PM Modi's five-nation visit to the UAE, Netherlands, Sweden, Norway, and Italy from May 15–20, which is being closely tracked for potential bilateral defence cooperation announcements and energy security agreements. Metal stocks are also witnessing strong momentum, with the Nifty Metal Index rallying ~3.2%.

The upmove was driven by a sharp surge in global base metal prices, particularly copper, which hit a record high above $14,000 per tonne on LME. Zinc and aluminium prices also moved higher, lifting stocks such as Hindustan Zinc, which gained nearly 5%. Additionally, gold and silver prices rallied sharply after the government raised import duties on precious metals to 15% from 6%, further supporting metal counters.

Index formed a high wave candlestick pattern with a lower high and a lower low signaling consolidation after last three sessions sharp decline. Nifty started the session on a weak note and formed an intraday low of 23,262 in the opening trade. However, pullback during the session saw the index forming an intraday high of 23,582 in the midsession. Sharp decline in the last hour saw the index gave up most of its intraday gains and closed the session marginally higher by 0.2%.

Index need to start forming higher high and higher low on a sustained basis in the daily chart and move above the recent breakdown area of 23,800 to signal a pause in the recent corrective trend. Nifty has immediate support at 23,000-23,200 levels being the confluence of the lower band of the 8th April gap area and the 61.8% retracement of the previous pullback ( 22,182-24,601).

Intraday Levels for Nifty

Resistance: 23,540 & 23,680
Support: 23,260 & 23,130