Stock Market Highlights Today: BSE Sensex ends over 130 points down; Nifty50 closes above 23,650 on mixed global cues

"The Nifty opened on a positive note with a gap-up start but failed to hold higher levels, eventually forming a bearish candle on the daily chart. The index has also slipped below its 50-DMA, which is currently placed near 23,700 levels. Despite the weakness, the broader market structure continues to remain range-bound, and Nifty is expected to oscillate within the 23,400–23,900 zone in the near term. A fresh leg of upside momentum is likely only if the index manages to surpass the immediate hurdle of the 21-DMA, placed around 23,910 levels. Meanwhile, the volatility index, ‘INDIAVIX’, eased by 3.5% to 17.80 levels, and any further cooling in volatility may provide some comfort to the bulls,” says Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse Ltd.

"Rupee witnessed a sharp recovery towards 96.15, gaining around 65 paise or 0.68%, as short covering emerged after the currency touched near 97.00 lows in the previous session. Market participants also sensed possible intervention support, which helped improve sentiment in the forex market.
A pullback in crude oil prices further supported the rupee, with WTI crude slipping below the $101 mark, easing immediate concerns around India’s import bill and inflation pressure.

The recovery in rupee is currently being driven more by profit booking and softer crude prices rather than any major structural reversal, though lower oil prices can continue to provide temporary relief to the currency,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

1. InterGlobe: Current Price 4,403 | Price Change 138.00 (+) | 3.25% (+)
2. Trent: Current Price 4,170 | Price Change 70.50 (+) | 1.72% (+)
3. BEL: Current Price 420.40 | Price Change 7.10 (+) | 1.72% (+)
4. Adani Ports SEZ: Current Price 1,793 | Price Change 20.70 (+) | 1.17% (+)
5. Tata Steel: Current Price 208.58 | Price Change 1.58 (+) | 0.76% (+)
6. Sun Pharma: Current Price 1,891 | Price Change 11.00 (+) | 0.59% (+)
7. UltraTech Cem.: Current Price 11,474 | Price Change 65.00 (+) | 0.57% (+)
8. L&T: Current Price 3,929 | Price Change 17.80 (+) | 0.46% (+)
9. ICICI Bank: Current Price 1,243 | Price Change 5.50 (+) | 0.45% (+)
10. Axis Bank: Current Price 1,253 | Price Change 3.50 (+) | 0.29% (+)

"Domestic equities erased early gains as concerns over potential RBI rate hikes and weak manufacturing PMI data outweighed optimism from softer crude prices. Uncertainty around US–Iran negotiations, signals of possible domestic monetary policy tightening, and a weaker growth outlook continued to raise macro concerns. Despite resilience in small caps and selective buying in realty and healthcare, profit booking kept markets flat by the close. Looking ahead, the near-term trajectory hinges on the RBI's June policy decision, progress in US-Iran talks, and the stability of key growth indicators and the rupee,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex closed in red on Thursday after a positive start to the day. Nifty50 closed at 23,654.70, down 4 points. BSE Sensex ended at 75,183.36, down 135 points.

Stock market today: After opening gap-up in morning trade, Nifty50 and BSE Sensex have slipped in red. At 1:04 PM, Nifty50 was trading at 23,606.75, down 52 points or 0.22%. BSE Sensex was at 75,016.19, down 302 points or 0.40%.

The frontline indices remained in its sideways range as the volatility index, India VIX subsided further by over 5%.

Coming back to Nifty, the zone of 23580-23600 will act as a crucial support for the index while the resistance lies in the zone of 23830-23850.

On the downside, if the index slips below the level of 23580 then the next support is placed in the zone of 23400-23250.

In an event of a surge above 23850, the index can experience an extension of the rally towards 24050-24150.

On the options front, meaningful call writing witnessed across 23800 & 23900 strikes. On the put side, 23700 has a substantial open interest, followed by 23600 strike.

Nifty's Advance Decline Ratio is at 29:21.

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

Vodafone Idea’s stock has witnessed a sharp upswing in recent months, climbing over 100% in the past year and touching a new 52-week peak. Despite this strong momentum, many brokerage firms continue to remain cautious, pointing to several major challenges facing the telecom company.

On Saturday, Vodafone Idea announced its financial results for the January–March quarter of FY2026. The company posted a net profit of Rs 51,970 crore for the reported quarter, compared with a net loss of Rs 7,166 crore during the same period last year. This turnaround was largely attributed to a one-time accounting benefit arising from the reassessment of AGR liabilities and the recognition of the present value of upcoming AGR payments.

At the same time, revenue from operations increased by 3% year-on-year to Rs 11,332 crore for the quarter ended March 31, 2026, up from Rs 11,017 crore recorded in the corresponding quarter of the previous fiscal year. EBITDA registered a 4.9% annual rise to Rs 4,889 crore. Meanwhile, the company’s average revenue per user (ARPU) improved to Rs 190 from Rs 175 in the year-ago quarter, reflecting a growth of 8.3%.

Stock market today: After a strong start to the day Nifty50 and BSE Sensex traded flat, but in green. At 11:39 AM, Nifty50 was trading at 23,731.00, up 72 points or 0.30%. BSE Sensex was at 75,468.45, up 150 points or 0.20%.

The turn higher evolved yesterday without having to stretch all the way to 23300, the lower band of the seven-day old trading range. This points to eager buyers, and encourages us to play for a breakout move aiming 23900-24430. This assumes that a close above 23670-730 will unfold shortly. Downside marker may be pushed higher to 23600, says Anand James, Chief Market Strategist, Geojit Investments Limited.

Shares of Protean eGov Technologies rallied nearly 20% on Thursday, climbing to Rs 654.20, after the company announced its best-ever quarterly and full-year financial performance, driven by strong growth across its traditional as well as newer business verticals.

For the March 2026 quarter, the company reported a sharp 53% year-on-year increase in net profit at Rs 31 crore, compared with Rs 20 crore in the corresponding period last year. Revenue also recorded robust growth, rising 38% to Rs 308 crore, supported by continued demand and solid execution across its digital governance and technology solutions businesses.

"The recent market movements indicate a buy on dips market construct. Buy on dips strategy has been working well. It appears that the sustained selling by FPIs has also stopped since they were buyers on a couple of days recently.

The correction in KOSPI and TAIEX and the FPI selling in these markets indicate concerns around bubble valuations in AI stocks in these markets. Weakness in South Korean and Taiwanese markets can turn out to be a blessing in disguise for India. Since valuations in India are fair, and even attractive in certain pockets, FPIs may turn buyers infusing some optimism in the market. A lot will depend on the crude price and stability in the rupee. Brent crude declining to $106 this morning is a positive signal. Perhaps the market is taking cues from President Trump’s remark that “ the conflict will end soon and oil prices would plummet.” But going by past experience, President Trump’s words cannot be trusted and, therefore, we will have to see more tangible results.

Q4 results have been, so far, good. The negative impact of the energy crisis will be felt in Q1 FY27. But if crude price continues to decline, the remaining quarters will be reasonably good,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex rallied strongly in opening trade on Thursday on positive global cues. At 9:16 AM, Nifty50 was trading at 23,821.35, up 162 points or 0.69%. BSE Sensex was at 75,841.06, up 523 points or 0.69%.

Asian equities rallied on Thursday, led by strong gains in Tokyo and Seoul, as optimism grew over the possibility of a peace agreement in the Middle East and fresh negotiations helped avert a planned strike at Samsung Electronics.

Technology stocks also boosted sentiment after Elon Musk’s SpaceX revealed that it had filed documents for what could become the biggest initial public offering ever.

Japan’s Nikkei surged more than 3.5% after Iran announced that it was reviewing a fresh proposal from the United States aimed at ending the conflict in West Asia.

US President Donald Trump said on Wednesday that discussions were hovering on the “borderline” between reaching an agreement and a renewed phase of military action.

The cautious optimism quickly spread across global financial markets. Oil prices had dropped over 5% on Wednesday, while US equities closed higher.
Even so, market analysts said investors continued to remain careful after several earlier negotiations had failed to produce lasting progress. Reflecting that uncertainty, crude prices moved slightly higher by around 0.5% on Thursday.

South Korea’s benchmark Kospi index climbed sharply, gaining 6.8% during morning trade. Shares of Samsung Electronics also advanced strongly, rising 5.9%.

Late on Wednesday, Samsung’s labour union announced that a planned strike had been suspended after discussions with company management resumed in the presence of South Korea’s labour minister.

The union representing workers at the world’s largest memory chipmaker had earlier planned to begin industrial action on Thursday after negotiations over employee bonuses collapsed, sparking fears of possible disruptions to semiconductor production.

However, the union later stated that the strike would remain postponed until further notice. It also said members would vote on a tentative wage agreement between May 23 and May 28.

Index formed a bullish candle with a lower high and a lower low highlighting strong pullback after a gap down opening and closed near the day’s high. Index for the second time in the last three sessions has rebounded from near the key support area highlighting buying demand at lower levels. Index likely to consolidate in the range of 52,700-54,700. Bank Nifty holding above the key support area of 52,700-52,400 will lead to a pullback towards the recent breakdown area of 54,000 and 54,700.

However, Index need to form higher high and higher low on a sustained basis in the daily chart and a move above the breakdown area of 54,400-54,700 to signal a pause in the recent downtrend. Key support 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).

Markets are likely to remain cautious in the near term, amid an unfavourable macro backdrop marked by continued weakness in the rupee, elevated Brent crude prices near USD 111/bbl, and high US bond yields, all of which are tightening financial conditions and weighing on sentiment. FIIs turned net sellers after three consecutive buying sessions, while the rise in domestic G-Sec yields to six-week highs could delay the lending rate relief that markets were anticipating. Indian equities ended largely flat on Wednesday amid weak global cues and macro concerns. The Nifty 50 closed marginally higher by 0.2%, while broader markets remained subdued with the Midcap100 gaining 0.5% and the Smallcap100 ending nearly flat (+0.04%).

Bond markets are pricing in re-accelerating inflation — the US 30-year yield crossed 5.1%, a 19-year high, while the 10-year moved above 4.5%. Rising US yields make dollar assets incrementally more attractive, pulling capital out of emerging markets, weakening the rupee, and pushing Indian G-Sec yields higher simultaneously. The rupee fell 20 paise to a fresh all-time low of 96.90 for the seventh consecutive session, with the 10-year G-Sec yield climbing to 7.1–7.13%. It is a self-reinforcing loop.

Separately, peak power demand hit an all-time high of 260.45 GW amid intensifying heat wave conditions, with temperatures expected to rise further — a clear positive read-through for power utilities, AC manufacturers, and summer beverage names. Diplomatically, US Secretary of State Rubio's India visit (May 23–26) and the India-Italy "special strategic partnership" spanning defence, AI, clean energy, and IMEC provide a longer-runway thesis for defence and infrastructure plays, says Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

The rupee extended its losing streak for a ninth straight trading session on Wednesday, slipping 16 paise to end at a new record closing low of 96.86 against the US dollar. The continued weakness came as rising global crude oil prices linked to the West Asia conflict intensified concerns around inflation.

In the interbank forex market, the domestic currency began the day at 96.89 against the dollar and weakened further to touch an all-time intraday low of 96.95. During the session, it recovered partially to hit a high of 96.65 before finally settling at its weakest-ever closing level of 96.86, down 16 paise from the previous close.

On Tuesday, the rupee had already witnessed a sharp decline of 50 paise to close at 96.70 per US dollar.

According to Anuj Choudhary, Research Analyst, Commodities Research at Mirae Asset Sharekhan, the rupee came under pressure due to a strengthening US dollar and a sharp jump in US Treasury yields. Yields on 30-year US Treasury bonds climbed to their highest level in nearly two decades, while benchmark 10-year yields touched a 16-month peak.

He said the surge in yields heightened inflation concerns and triggered a sell-off across global markets, pushing investors towards risk-averse assets.

Index in the daily chart formed a bullish candle with a lower high and lower low highlighting strong pullback after a gap down opening and closed near the day’s high. Index for the third time in the last six sessions has rebounded from near the key support area highlighting buying demand at lower levels.

Going ahead, index to extend the last six sessions consolidation in the range of 23,200-23,900. Only a move above the recent breakdown area of 23,800-23,900, will signal a pause in the overall corrective trend. Index need to start forming higher high and higher low on a sustained basis in the daily chart and a move above the breakdown area of 23,800-23,900 to signal strength. Nifty has key support at 23,200-23,000 levels being the confluence of the lower band of the 8th April bullish gap area and the 61.8% retracement of the previous pullback (22,182-24,601).

Benchmark equity index Sensex erased steep early losses to finish 117 points higher on Wednesday, supported largely by gains in Reliance Industries, even as investor sentiment remained cautious amid elevated crude oil prices and continued weakness in the rupee.

The 30-share BSE Sensex advanced 117.54 points, or 0.16%, to close at 75,318.39. The index had started the session on a weak note and at one stage dropped 671.44 points, or 0.89%, to touch an intraday low of 74,529.41. However, strong buying in oil and gas, financial and automobile stocks during the final hour of trade helped the benchmark recover sharply, rebounding nearly 877 points from the day’s lowest level.

The NSE Nifty 50 also ended in positive territory, gaining 41 points, or 0.17%, to settle at 23,659. During the session, the benchmark moved within a wide range, touching a low of 23,397.30 and a high of 23,690.90.

Among the Sensex constituents, Reliance Industries emerged as the biggest gainer, climbing 2.83%. Other stocks that supported the market included Bajaj Finserv, Trent, InterGlobe Aviation, Axis Bank and Mahindra & Mahindra.

On the other hand, Bharat Electronics, Tech Mahindra, Eternal and Tata Steel figured among the top losers for the day.