Stock Market Highlights: BSE Sensex ends over 160 points down, Nifty50 closes below near 23,650 in a volatile session; rupee breaches 96 per dollar mark

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"The index slipped from around the support-turned-resistance zone of 23800. It has been forming lower tops on the daily chart, indicating a bearish setup. Besides this, the index is facing strong resistance at the 20 EMA on the daily timeframe and the 50 EMA on the weekly timeframe.

India VIX has surged nearly 9% from the day’s low following the breakout in Brent crude prices. The RSI remains in a bearish crossover and continues to decline, indicating weak momentum.

In the near term, the index may witness renewed selling pressure once Nifty falls below 23500. On the downside, a breach below 23500 could drag the index towards 23150 and possibly lower levels. On the upside, 23800 is expected to continue acting as a key short-term point of polarity,” says Rupak De, Senior Technical Analyst at LKP Securities.

"Investors have turned cautious post the recent relief rally, with rising bond yields, a weaker rupee, and fresh fuel price hikes reviving inflation concerns. Favourable valuations and a solid Q4 earnings print are cushioning the downside. Focus has shifted to potential fiscal and monetary measures to defend the rupee and stabilise the Balance of Payment. Globally, surging yields have paused the AI-led rally. Near-term direction is likely to be driven by geopolitical developments — specifically, any progress on reopening the Strait of Hormuz, with the Trump–Xi meeting positioned as the key catalyst,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex saw a volatile session on Friday, before finally closing in red. Nifty50 ended the day at 23,643.50, down 46 points or 0.19%. BSE Sensex closed at 75,237.99, down 161 points or 0.21%.

The rupee continued its depreciating spree on Friday, crossing the 96 per US dollar mark. It hit a record low of 96.07 per dollar in intraday trade.

The frontline indices started on a muted note with the buyers attempting to push the prices higher. However, selling pressure was witnessed at higher levels

Coming back to Nifty, the zone of 23650-23620 will act as a crucial support for the index while the resistance lies in the zone of 23800-24820 zone.

On the downside, if the index slips below the level of 23620 then the next support is placed the zone of 23470-23450.

In an event of a surge above 23820, the index can experience an extension of the rally towards 24000.

On the options front, meaningful call writing witnessed across 23900 & 24000 strikes. On the put side, 24600 has a substantial open interest, followed by 23500 strike.

Nifty's Advance Decline Ratio is at 27:23.

Speaking of Sensex levels, support is at 75,000 while resistance is at 75,800.

Stock market today: Nifty50 and BSE Sensex were trading flat in late afternoon trade on Friday. At 2:31 PM, Nifty50 was trading at 23,697.30, up 8 points or 0.033%. BSE Sensex was at 75,415.31, up 17 points or 0.022%.

Shares of Housing and Urban Development Corporation or HUDCO plunged more than 8% on Friday despite the company posting a sharp 172% jump in consolidated net profit for the fourth quarter of FY 2025-26. Net profit rose to Rs 1,981 crore from Rs 728 crore recorded in the same quarter of the previous financial year.

However, despite the strong rise in net earnings, profit before tax fell 39% year-on-year to Rs 621 crore during the January-March quarter of FY26, compared with Rs 1,020 crore in the corresponding period last year. The significant increase in net profit, despite lower pre-tax earnings, was mainly attributed to a deferred tax gain of Rs 1,530 crore during the quarter.

Revenue from operations for the quarter ended March 31, 2026 climbed 25% to Rs 3,563 crore, compared with Rs 2,845 crore in the year-ago period. Interest income, which remains the company’s main source of revenue, increased 26% year-on-year to Rs 3,555 crore from Rs 2,821 crore reported in the corresponding quarter of the previous fiscal.

Alongside its quarterly earnings announcement, Housing and Urban Development Corporation said its board had recommended a final dividend of Rs 1.5 per equity share for FY26. The proposal will be subject to shareholder approval at the company’s upcoming annual general meeting.

Shares of several Adani Group firms — including Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Energy Solutions and Adani Power — gained as much as 3% in early Friday trade after reports suggested that US authorities could move toward settling fraud-related allegations involving Gautam Adani and may potentially shut the criminal proceedings against him.

Investor sentiment also improved after a Bloomberg report stated that Gautam Adani and his nephew Sagar Adani had agreed to pay a combined $18 million to resolve allegations by the US Securities and Exchange Commission over allegedly misleading statements linked to Adani Green Energy.

According to the report, the proposed settlement filed in a federal court on Thursday involves Gautam Adani paying $6 million, while Sagar Adani would contribute $12 million to settle the SEC’s lawsuit filed in November 2024. The agreement is still subject to judicial approval.

"The ₹3 hike in petrol and diesel prices reflects the pressure of elevated global crude oil prices and rising import costs on the government’s fiscal position. While the increase may temporarily add to inflation concerns and impact transportation and consumption costs, it also indicates the government’s focus on managing fuel subsidies and protecting forex reserves amid ongoing global uncertainty. In the longer term, such moves may further accelerate the push towards EV adoption and reduced dependence on imported fuel,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Stock market today: Nifty50 and BSE Sensex rose in trade on Friday after a negative start to the day. While Nifty50 went above 23,800, BSE Sensex rose over 350 points. At 10:16 AM, Nifty50 was trading at 23,805.05, up 115 points or 0.49%. BSE Sensex was at 75,765.94, up 367 points or 0.49%.

The rapid ascent yesterday that refused to stall at our objective of 23680 points to favourable momentum. However, being in the vicinity of the week’s peak, an attempt to consolidate could be seen. We will go in today eying 23910, the 10day SMA, with downside marker near 23600. Slippage past the same may not trigger a collapse though, but may lead to an extended period of consolidation, says Anand James, Chief Market Strategist, Geojit Investments Limited.

Shares of oil marketing companies such as Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited and Indian Oil Corporation fell by as much as 3% on Friday after the government announced a smaller-than-anticipated increase in petrol and diesel prices. The Centre raised fuel prices by up to Rs 3 per litre with immediate effect amid continuing disruptions around the Strait of Hormuz.

Among the major losers, HPCL declined the most, slipping 3% to an intraday low of Rs 376. BPCL shares also dropped around 2% to Rs 289 on the NSE. City gas distribution firms including Mahanagar Gas Limited, Indraprastha Gas Limited and Gujarat Gas Limited also traded lower, though the declines were relatively mild.

Following the revision, petrol prices in the national capital increased to Rs 97.77 per litre, while diesel rates climbed to Rs 90.67 per litre.

Among the four metro cities, Kolkata witnessed the steepest rise in petrol prices, with rates increasing by Rs 3.29 to Rs 108.74 per litre. In Mumbai, petrol prices went up by Rs 3.14 to Rs 106.68 per litre, while Chennai recorded an increase of Rs 2.83, taking the price to Rs 103.67 per litre.

Shares of oil marketing companies such as Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited and Indian Oil Corporation fell by as much as 3% on Friday after the government announced a smaller-than-anticipated increase in petrol and diesel prices. The Centre raised fuel prices by up to Rs 3 per litre with immediate effect amid continuing disruptions around the Strait of Hormuz.

Among the major losers, HPCL declined the most, slipping 3% to an intraday low of Rs 376. BPCL shares also dropped around 2% to Rs 289 on the NSE. City gas distribution firms including Mahanagar Gas Limited, Indraprastha Gas Limited and Gujarat Gas Limited also traded lower, though the declines were relatively mild.

Following the revision, petrol prices in the national capital increased to Rs 97.77 per litre, while diesel rates climbed to Rs 90.67 per litre.

Among the four metro cities, Kolkata witnessed the steepest rise in petrol prices, with rates increasing by Rs 3.29 to Rs 108.74 per litre. In Mumbai, petrol prices went up by Rs 3.14 to Rs 106.68 per litre, while Chennai recorded an increase of Rs 2.83, taking the price to Rs 103.67 per litre.

The rapid ascent yesterday that refused to stall at our objective of 23680 points to favourable momentum. However, being in the vicinity of the week’s peak, an attempt to consolidate could be seen. We will go in today eying 23910, the 10day SMA, with downside marker near 23600. Slippage past the same may not trigger a collapse though, but may lead to an extended period of consolidation, says Anand James, Chief Market Strategist, Geojit Investments Limited.

"The 789 point rise in Sensex yesterday was mainly triggered by short covering. FIIs were positioned heavily on the short side. There are rumours of measures to shore up the rupee and attract capital into the economy. We will have to wait for clarity on this.

The decision to increase the price of petrol and diesel by Rs 3 a litre and CNG by Rs 2 a kg indicate that the government is playing it safe through small increases, perhaps stage by stage, without triggering a sharp spike in cost-push inflation. This is a welcome step.

There are some trends in the market which investors have to watch. The market is responding hugely positively to good Q4 results with double digit price rises in some cases, and punishing poor results with double digit price crashes in some cases. This reflects the gap in market expectations and actual results. Another important trend is the continuing weakness in IT stocks and sustaining strength in pharmaceuticals stocks. This reflects the market perception of the prospects of these sectors in the present challenging environment,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmarks, opened in red on Friday. While Nifty50 was below 23,600, BSE Sensex dropped over 100 points. At 9:16 AM, Nifty50 was trading at 23,667.10, down 23 points or 0.095%. BSE Sensex was at 75,282.78, down 116 points or 0.15%.

"Indian equity markets are expected to open on a mildly positive note, with Gift Nifty trading around 23,769, up by 40 points. Global equities traded mixed after a muted session on Wall Street, as investors remained cautious amid concerns over elevated bond yields, inflation outlook, and uncertainty surrounding the pace of global economic recovery. Market participants will also continue to monitor geopolitical developments and crude oil price movements, which may keep overall sentiment volatile in the near term.

Nifty ended on a strong positive note on 14th May 2026, closing at 23,689.60, up 277 points or 1.18%, supported by broad-based buying across key sectors. The index opened gap-up at 23,530.25 and, after witnessing initial volatility, recovered sharply to touch an intraday high of 23,777.20. Technically, the formation of a Morning Doji Star candlestick pattern indicates a potential bullish reversal and improving market sentiment. The RSI improved to 45.86, reflecting strengthening momentum, while India VIX declined to 18.61, signalling easing volatility and improved investor confidence. Derivatives data also indicated recovery sentiment with strong put writing at 23,500–23,600 strikes. Immediate support is placed around the 23,450–23,500 zone, while resistance is seen near the 23,950–24,000 range.

Bank Nifty ended on a positive note on 14th May 2026, closing at 54,128.95, up 672.80 points or 1.26%, supported by strong buying interest in the latter half of the session. The index opened gap-up at 53,639.50 and, after initial weakness, recovered sharply to touch an intraday high of 54,393.75. Technically, the formation of a Morning Doji Star candlestick pattern indicates a potential bullish reversal and improving sentiment in the banking space. The RSI improved to 43.79, reflecting recovery in momentum, while immediate support is placed around the 53,400–53,500 zone and resistance is seen near the 54,700–54,800 range.

The market outlook for the near term remains cautiously optimistic, as buying interest from lower levels and improving market breadth indicate gradual strengthening in sentiment. However, with Nifty approaching the 23,900–24,000 resistance zone and Bank Nifty nearing key supply areas, some consolidation or stock-specific volatility cannot be ruled out. Stability in global markets and continued support from banking and broader market segments will remain crucial for sustaining the ongoing recovery momentum,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.

“As the conflict in West Asia continues to drag on, the US dollar index extended its gains, trading at 99.01 (at the time of writing). This was further aided by resilience in US consumer demand and rising expectations of a Fed rate hike due to rising inflation fears. Brent crude remained elevated at $106/pbl, while gold moderated below $4700/oz. The US 30 year bond yield rose to 5.06%, 2 year yield rose above 4% and the 10 year yield inched up to 4.51%.

In the domestic market, government announced a Rs. 3.04 per litre increase in petrol and diesel prices, and a Rs 2 per kg increase in CNG prices, passing on some of the increase in global crude prices to retail consumers. We estimate the direct impact of this increase to be close to 20-25bps on headline CPI. Yesterday, the USD/INR weakened by 0.06% to close at 95.76, after touching an all-time low of 95.9575, amid high crude prices and continued FII outflows. We expect USD/INR to trade in the 95-96.50 range in the near term,” says HDFC Bank.

Index formed a bullish candlestick pattern with a lower low and a higher high highlighting intraday volatility and strong pullback from the oversold territory after recent sharp decline. Bank Nifty is currently placed around the Tuesday breakdown area of 54,400-54,600. A move above the same will signal extension of the pullback towards 55,000 levels. While failure to move above the same will signal extension of the corrective decline towards 53,500 and 53,000 levels.

From a short-term perspective 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 54,400-54,600 to signal a reversal of the corrective trend. Key support area for Nifty is placed at 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). The daily stochastic has rebounded from the oversold territory thus supports the continuation of the pullback in the coming sessions

The rupee slipped to a new lifetime low of 95.96 against the US dollar during Thursday’s trading session before recovering slightly to end 2 paise higher at 95.64, managing to withstand pressure from a stronger US currency and rising inflation concerns linked to elevated energy prices.

Currency market participants said the ongoing West Asia conflict and the blockade around the Strait of Hormuz have disrupted India’s crude oil imports. The sharp increase in global crude prices has also significantly raised the country’s fuel import costs.

Traders noted that the rupee has emerged as Asia’s weakest-performing currency so far this year, declining more than 6% against the dollar in 2026. Persistent strength in crude oil prices, a firm US dollar and concerns surrounding the West Asia crisis have continued to hurt investor sentiment.

At the interbank foreign exchange market, the domestic currency opened weaker at 95.74 against the greenback.

In a highly volatile session, the USD/INR pair moved between an intraday high of 95.61 and a fresh all-time low of 95.96 before the rupee eventually settled at 95.64, gaining 2 paise compared to the previous close.

According to Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, the near-term outlook remains cautious despite Indian markets witnessing a strong rebound in the past two sessions. Persistent foreign outflows, elevated crude oil prices (around USD 105 per barrel) and the Indian rupee slipping to fresh record lows (95.9/USD) continue to pose key macro risks for the domestic market.

At the same time, the lack of any visible resolution in the West Asia conflict continues to keep global investors on edge and maintain uncertainty across financial markets. Adding to these concerns, India’s wholesale inflation surged to a 42-month high of 8.3% in April, raising fears of persistent inflationary pressures, margin stress and a potentially delayed rate-cut cycle by the RBI. With the earnings season also nearing completion, market focus is gradually shifting back toward global macros, geopolitical developments and policy-related triggers, including the ongoing US-China talks focused on improving trade relations and securing major business deals, along with PM Narendra Modi’s five-nation visit for potential announcements related to bilateral defence cooperation and energy security agreements.

Additionally, India is also considering reducing taxes on bond investments by foreign investors to attract overseas capital inflows and improve participation in domestic debt markets. The proposal is expected to support the rupee, ease liquidity conditions and enhance the attractiveness of Indian government bonds for global investors. Separately, India has banned exports of raw, white and refined sugar till 30th Sep’26, amid concerns over tightening domestic supply and lower-than-expected production, with the move aimed at ensuring adequate domestic availability and stabilising local sugar prices.

On Thursday, the Nifty closed at 23,690, gaining 1.2%, while broader markets were mixed, with the Midcap100 index rising 1.1% and the Smallcap100 index ending flat. Sectorally, Nifty Metal, Healthcare and Pharma stocks led the gains, while IT shares continued to remain under pressure amid concerns over intensifying global AI competition.

The rally in metal stocks was further supported by strong global copper prices, while defensive buying interest emerged in pharma and FMCG names amid heightened market uncertainty. Looking ahead, Indian markets are likely to remain sensitive to developments in the West Asia conflict, movement in energy prices and trends in foreign fund flows. While the recent rebound indicates selective buying at lower levels, elevated inflation, currency weakness and persistent geopolitical uncertainty are expected to keep overall sentiment cautious.

Indian equity markets extended their upward momentum for a second straight session on Thursday, with the benchmark Sensex surging nearly 790 points in a choppy trading day, supported by bargain buying in telecom, pharmaceutical and private banking stocks.

The 30-share BSE Sensex climbed 789.74 points, or 1.06%, to settle at 75,398.72. After opening on a positive note, the index briefly slipped into the red during late morning trade. However, renewed buying interest in telecom and banking counters helped the market recover sharply, with the Sensex later soaring over 1,000 points intraday to touch a high of 75,681.88.

The broader NIFTY 50 also continued its rally for the second consecutive day, gaining 277 points, or 1.18%, to close at 23,689.60.

Among the Sensex constituents, Bharti Airtel led the gains with a jump of more than 5% after the telecom major’s annual revenue crossed the Rs 2 lakh crore milestone for the first time.

Eternal Limited advanced 3.32%, while HDFC Bank rose 2.67%, emerging as key contributors to the benchmark’s rally. Other notable gainers included Adani Ports and Special Economic Zone Limited, Sun Pharmaceutical Industries Limited, Bajaj Finance Limited, Mahindra & Mahindra, NTPC Limited, Kotak Mahindra Bank, Titan Company Limited, Trent Limited, UltraTech Cement, ITC Limited and State Bank of India.

On the losing side, technology shares remained under pressure, with Infosys, Tech Mahindra, HCL Technologies and Tata Consultancy Services ending lower. Other laggards included Hindustan Unilever Limited, Axis Bank and Maruti Suzuki India Limited.

Index formed a sizable bullish candle with a higher high and a higher low signaling pullback from the oversold territory after the recent sharp decline. Nifty is currently placed around the Tuesday breakdown area of 23,800. A move above the same will signal extension of the pullback towards 24,100 levels. While failure to move above the same will signal extension of the corrective decline towards 23,400 and 23,100 levels.

From a short-term perspective 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 reversal of the corrective trend. Key support area for Nifty is placed at 23,200-23,000 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). The daily stochastic has rebounded from the oversold territory thus supports the continuation of the pullback in the coming sessions.