Stock Market Highlights Today: BSE Sensex ends over 100 points up, crosses 75,300; Nifty50 above 23,650

"Markets witnessed another volatile session on Wednesday, with benchmark indices ending marginally higher amid mixed signals. After a gap-down start, the Nifty gradually recovered as the session progressed and eventually settled near the day’s high at 23,659.00, up around 0.17%. Sectoral trends remained mixed, with energy, auto, and realty stocks showing strength, while FMCG and IT counters traded slightly subdued. Broader markets also witnessed mixed participation, with the midcap index gaining nearly 0.59%, whereas the smallcap index ended largely flat.

The initial weakness in domestic equities was primarily driven by rising global bond yields, elevated crude oil prices, and continued geopolitical uncertainty surrounding the US-Iran conflict. Brent crude continued to hover near the $110 per barrel mark, keeping concerns around inflation, India’s current account deficit, and margin pressures intact. Simultaneously, the rupee weakened to a fresh record low against the US dollar, inching closer to the 97 mark, while persistent foreign institutional outflows further weighed on market sentiment. Investors also remained cautious ahead of key global macroeconomic data releases and continued to track stock-specific earnings reactions, which contributed to heightened volatility across sectors.

Technically, the Nifty continues to trade below the crucial resistance zone of 23,800–24,000, indicating that the broader undertone remains cautious. However, rotational buying in select heavyweight stocks across sectors is helping limit the downside, with the index finding support in the 23,250–23,400 zone so far. Meanwhile, we continue to recommend a sector-specific trading approach with a strong emphasis on overnight risk management,” says Ajit Mishra – SVP, Research, Religare Broking Ltd.

1. Tech Mahindra: Current Price 1,439 | Price Change -28.10 (-) | -1.92% (-)
2. Eternal: Current Price 243.34 | Price Change -3.88 (-) | -1.57% (-)
3. Kwality Wall's: Current Price 26.35 | Price Change -0.33 (-) | -1.24% (-)
4. Tata Steel: Current Price 207.01 | Price Change -2.29 (-) | -1.09% (-)
5. HUL: Current Price 2,209 | Price Change -23.60 (-) | -1.06% (-)
6. ITC: Current Price 307.55 | Price Change -2.75 (-) | -0.89% (-)
7. HCL Tech: Current Price 1,170 | Price Change -9.61 (-) | -0.82% (-)
8. Bharti Airtel: Current Price 1,905 | Price Change -8.60 (-) | -0.45% (-)
9. HDFC Bank: Current Price 759.50 | Price Change -2.96 (-) | -0.39% (-)
10. ICICI Bank: Current Price 1,237 | Price Change -3.50 (-) | -0.29% (-)

1. RIL: Current Price 1,360 | Price Change 37.00 (+) | 2.80% (+)
2. Bajaj Finserv: Current Price 1,772 | Price Change 22.20 (+) | 1.27% (+)
3. M&M: Current Price 3,122 | Price Change 29.90 (+) | 0.97% (+)
4. Axis Bank: Current Price 1,250 | Price Change 11.50 (+) | 0.93% (+)
5. InterGlobe: Current Price 4,265 | Price Change 34.30 (+) | 0.82% (+)
6. NTPC: Current Price 392.45 | Price Change 3.06 (+) | 0.79% (+)
7. Trent: Current Price 4,100 | Price Change 30.30 (+) | 0.75% (+)
8. Adani Ports SEZ: Current Price 1,773 | Price Change 9.80 (+) | 0.56% (+)
9. Power Grid: Current Price 299.90 | Price Change 1.30 (+) | 0.44% (+)
10. UltraTech Cements: Current Price 11,409 | Price Change 41.00 (+) | 0.37% (+)

Stock market today: Nifty50 and BSE Sensex ended the day in green on Wednesday after a volatile trading session. Nifty50 ended the day at 23,659.00, up 41 points or 0.17%. BSE Sensex closed at 75,318.39, up 118 points or 0.16%.

"Markets recovered from intraday lows, supported by selective buying in large cap stocks across autos, financials, and oil & gas. Autos and financials gained on relatively better Q4 earnings, while recent fuel price hikes supported sentiment for OMCs and refiners. Realty stocks also witnessed value buying after the recent correction.

However, persistent rupee weakness and elevated crude prices continue to weigh on sentiment due to concerns around inflation and margin pressures, while FII flows remain mixed. Globally, risk appetite remains subdued as US bond yields stay near multi-year highs, tightening financial conditions and limiting equity upside. Continued Middle East tensions have kept crude prices elevated near $110/bbl, adding to global inflation concerns.

Markets are now awaiting the US Fed’s April policy minutes for further direction on the interest rate outlook. Overall, the broader trend remains range-bound with a negative bias, with sector and stock specific opportunities likely to dominate,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: After starting the day in red, Nifty50 and BSE Sensex have bounced back from intraday lows to trade in green. At 2:37 PM, Nifty50 is trading at 23,661.05, up 43 points or 0.18%. BSE Sensex is at 75,323.38, up 123 points or 0.16%.

Markets staged a strong recovery post the initial gap down opening. Nifty recovered more than 200 points from the low point of the day with heavyweight counter Reliance Industries leading the charge currently up 2%.

Coming to Nifty, the zone of 23460-23440 will act as a crucial support for the index while the resistance lies in the zone of 23680-23710.

On the downside, if the index slips below the level of 23440 then the next support is placed in the zone of 23330-23310

In an event of a surge above 23710, the index can experience an extension of the rally towards 23850.

On the options front, meaningful call writing witnessed across 23600 & 23700 strikes. On the put side, 23500 has a substantial open interest, followed by 23400 strike.

Nifty's Advance Decline Ratio is at 20:30.

Speaking of Sensex levels, support is at 74,400-74550 zone while resistance is at 75,450 followed by 75,800

Shares of several midcap and smallcap firms came under heavy selling pressure on Wednesday as weakness in the broader market intensified alongside declines in benchmark indices Sensex and Nifty. Investor sentiment turned cautious after the rupee plunged to a new record low, bond yields climbed to multi-year peaks and multiple macroeconomic concerns weighed on the market mood.

Both the Nifty Midcap 100 and Nifty Smallcap 100 indices dropped nearly 1% each shortly after trading began on Wednesday. However, the benchmarks later recovered part of the losses, with the broader market indices also trimming some of their decline. By around 10:30 am, the Nifty Smallcap 100 index was trading 0.8% lower, while the Nifty Midcap 100 index remained down by 0.5%.

The rupee weakened by 20 paise in early trading on Wednesday, slipping to a fresh lifetime low of 96.90 against the US dollar as a stronger greenback and elevated crude oil prices continued to weigh on the domestic currency amid ongoing tensions between Iran and the United States.

Forex market participants said persistent foreign institutional investor outflows and weakness in benchmark equity indices further added pressure on the rupee.

In the interbank foreign exchange market, the domestic currency opened at 96.89 per dollar before declining further to 96.90, marking a 20-paise drop compared with the previous close.

On Tuesday, the rupee had already recorded its eighth straight session of losses, ending 50 paise weaker at a record closing low of 96.70 against the US dollar.

Stock market today: After opening with almost 1% losses, Indian equity benchmarks recovered partially. At 11:17 AM, Nifty50 was trading at 23,563.25, down 55 points or 0.23%. BSE Sensex was at 75,000.84, down 200 points or 0.27%.

"Globally stock markets are facing a headwind from rising bond yields. In US, the 10-year is yield is at 4.66% and the 30 - year yield has spiked to 5.19%- the highest level in the last 22 years. This is a red flag to equity markets. With the risk-free return at such high levels, the appetite for risky equity should decline. This is more valid in the case of highly valued AI stocks. But then markets have an ability to surprise and, therefore, the correction need not happen at a time when everyone expects.

In India the market headwind comes from macro concerns. In FY 27 GDP growth will be lower at around 6% and inflation can be higher at about 5.5%. It appears that the market has already discounted this.

Even during market weakness there will be good appetite for promising growth stocks. As a measure of abundant caution investors should give priority to value stocks which are available at fair valuations now. These are testing times. Patience is the key to success,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

"Indian equity markets were expected to open on a cautious negative note, with Gift Nifty trading at 23,431 down by 133 points. Global equities remained muted following weak cues from the US markets, as investors turned cautious amid rising bond yields and persistent geopolitical uncertainties.
In the previous session, The Nifty 50 erased early gains due to profit booking in the final hours of trade and ended marginally lower on May 19. The index continued to remain within the broader 23,300–23,800 consolidation range seen over the last few sessions. Overall sentiment remained cautious as momentum indicators continued to flash bearish signals, while the index traded below all key moving averages.

Technically, the Nifty formed a small bearish candle with an upper wick on the daily chart, indicating hesitation and selling pressure at higher levels amid ongoing consolidation. The index also remained below the 38.2 percent Fibonacci retracement level of both the April rally and the broader February-to-April correction, signalling a continued bearish bias.

The broader structure remains weak as the index continues to trade below all major short-term and long-term moving averages, all of which are trending downward. Momentum indicators also suggest continued caution. The RSI stood at 44.7 and remained sideways below the reference line, while the MACD maintained a bearish crossover, indicating weak momentum and absence of strong buying strength.

As long as the Nifty remains below the crucial resistance zone of 23,800, consolidation with a negative bias is likely to continue. A decisive close above 23,800 may improve sentiment and open the possibility of an upmove toward 24,000 followed by 24,250. On the downside, the 23,300 level remains an important immediate support zone, below which weakness may intensify further.

Derivatives data reflects mildly supportive undertones despite prevailing caution. The Nifty Put-Call Ratio (PCR) declined to 1.10 on May 19 from 1.24 in the previous session, indicating some reduction in aggressive put writing activity while still remaining above the key 1 mark.

India VIX, the market fear gauge, declined 4.87 percent to 18.67 but continued to remain elevated. Analysts believe the volatility index needs to decisively fall below the 18 level for bulls to regain stronger confidence in the market.

Option chain positioning indicates immediate support near the 23,400 strike due to put writing activity, while resistance is visible around the 23,800–24,000 zone where call writers remain active. This further reinforces the ongoing consolidation structure.

The Nifty Bank also remained in a consolidative phase and declined 0.24 percent on May 19. The banking index formed a small-bodied bearish candle with an upper shadow on the daily timeframe, indicating pressure at higher levels and lack of follow-through buying.

Technically, Bank Nifty continued to trade below the 50 percent Fibonacci retracement level of the April rally and remained below all key moving averages, all of which continued to slope downward, indicating weakness in the broader trend.

Momentum indicators for the banking index remained bearish. The RSI slipped to the 40 mark with a bearish crossover, while the MACD continued to remain below both the signal and zero lines, signalling lack of bullish momentum and persistent weakness in the banking space.

Immediate support for Bank Nifty is placed around 52,800–52,200, while resistance is seen near 54,600–55,000. A sustained breakout above resistance levels will be required for any meaningful recovery in the banking index,” says Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.

MSCI’s broad Asia-Pacific index excluding Japan dropped 0.7% during Wednesday trading. Japan’s Nikkei slid 1.6%, while South Korea’s Kospi lost 2%.
Chinese blue-chip shares weakened 0.4%, and Hong Kong’s Hang Seng index fell 0.7%.

European stock futures also pointed lower, with pan-European futures down 0.5%. Nasdaq futures were largely unchanged, while S&P 500 futures slipped 0.1%.

Tony Sycamore, an analyst at IG, said the current weakness appeared to be more of a corrective phase following a powerful market rally. He added that rising US bond yields were increasingly becoming a major concern for investors.

Sycamore also noted that while Nvidia could still deliver strong earnings, the company may no longer be able to consistently shock markets with outsized surprises the way it had done previously.

The chipmaker is scheduled to report first-quarter earnings after Wednesday’s market close. Analysts remain highly optimistic, with LSEG survey estimates projecting revenue growth of nearly 80% to around $79 billion.

US Treasuries remained under pressure in Asian trading, with the 10-year yield steady at 4.6713% after rising 21 basis points over the last three sessions. The 30-year yield held at 5.1858% following a 17 basis point jump since last Thursday.

The dollar hovered near a six-week high against major currencies. It traded at 159.05 yen after gaining for seven straight sessions, reversing much of the appreciation the yen had seen after Japanese authorities intervened around the 160 level on April 30.

The euro traded at $1.1594 after slipping to its weakest level since April 8 overnight. Sterling stood at $1.3380, remaining close to the six-week low reached earlier in the week.

The sharp turn lower in the closing hour from the vicinity of 10 day SMA point to bullish exhaustion. This would also mean that we remain in a sideways range, implying that the dips may stretch as far as 23300. For today, we would have to see consistent trades above 23600 or a test of 23300 vicinity to shift bias to positive, says Anand James, Chief Market Strategist, Geojit Investments Limited.

Stock market today: BSE Sensex and Nifty50 opened in red on Wednesday on weak global cues. Nifty50 went below 23,500 and BSE Sensex was down over 600 points. At 9:16 AM, Nifty50 was trading at 23,421.65, down 196 points or 0.83%. BSE Sensex was at 74,589.42, down 611 points or 0.81%.

Asian equities declined for the fourth consecutive session on Wednesday as inflation worries linked to the ongoing conflict rattled bond markets, while investors closely watched Nvidia’s upcoming earnings to gauge whether the world’s most valuable company could continue supporting markets amid rising borrowing costs.

The pressure in global bond markets intensified overnight as traders increasingly priced in the possibility that the US Federal Reserve may raise interest rates again this year. The benchmark 10-year US Treasury yield climbed to 4.687%, its highest level in 16 months, while the 30-year yield touched 5.198%, levels last seen in 2007.

Oil prices eased slightly on Wednesday, with Brent crude futures slipping 0.2% to $111.07 per barrel, though prices remained firmly above the $110 mark. The Strait of Hormuz continued to remain effectively shut, while US President Donald Trump said another strike on Iran could still be necessary, a day after indicating he had delayed imminent military action to allow more negotiations with Tehran.

Index formed a small bearish candle with a long upper shadow highlighting consolidating with corrective bias. 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). The daily 14 periods RSI is sustaining below its nine periods average highlighting overall corrective bias.

Indian benchmark indices Sensex and Nifty closed in the red on Tuesday after late-session selling in heavyweight stocks such as HDFC Bank and Reliance Industries erased earlier gains. Investor sentiment weakened amid growing concerns over the rupee touching a fresh record low.

Market participants said persistently high global crude oil prices, fuelled by geopolitical tensions, also kept pressure on equities. However, strong buying interest in information technology shares helped limit the decline in the broader market.

The BSE Sensex remained in positive territory for most of the trading session before witnessing sharp profit-booking towards the close. The 30-share index ultimately slipped 114.19 points, or 0.15%, to settle at 75,200.85.

Earlier in the day, the Sensex had rallied as much as 431.23 points, or 0.57%, to touch 75,746.27 after U.S. President Donald Trump stated that he had paused additional strikes on Iran following requests from Qatar, Saudi Arabia and the UAE. He also indicated that serious negotiations with Tehran were underway and could potentially lead to an acceptable agreement.

Meanwhile, the NSE Nifty50 declined 31.95 points, or 0.14%, to close at 23,618.

Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd says, “Markets are likely to remain sideways to under pressure in the near term despite Foreign Institutional Investors turning net buyers, as persistent weakness in the Indian rupee and elevated crude oil prices continue to weigh on overall market sentiment and limit broad-based upside momentum. The recent weakness in domestic markets is largely being driven by continued depreciation in the Indian rupee, which has been hitting fresh lows against the US dollar, while elevated crude oil prices, widening trade deficit, and a strengthening dollar index continue to pressure the domestic currency and weigh on investor sentiment.

On Tuesday, the Nifty fifty closed marginally lower at 23,618 (-0.1%), while broader markets outperformed, with the Midcap100 and Smallcap100 indices gaining 0.8% and 1%, respectively. On the sectoral front, the IT sector is witnessing some recovery in the last few days on the back of weak rupee, with the Nifty IT index gaining 5.7% in the last 2 trading sessions. Simultaneously, the pharmaceutical sector is also expected to remain in focus, supported by strong quarterly performance, improving earnings visibility, and currency-led tailwinds given its significant export exposure.

The International Sugar Organization (ISO) projects the global sugar market to shift into a deficit of 2.62 lakhs tonnes in 2026/27. This could elevate sugar prices globally, benefiting Indian sugar companies through improved realizations and stronger domestic pricing sentiment. However, India’s continued ban on sugar exports to protect domestic supplies and contain food inflation may limit export-related gains for the sector in the near term.”

The Indian rupee weakened for the eighth straight trading session on Tuesday, slipping 50 paise to close at a fresh all-time low of 96.70 against the US dollar. The decline was driven by surging crude oil prices, sustained foreign fund outflows and continued strength in the dollar amid heightened global risk aversion.

The rupee has now fallen Rs 2.48, or 2.64%, against the greenback over the last eight sessions, compared with its closing level of 94.22 on May 7, making it the weakest-performing currency in Asia during this period.

Currency market participants said the sharp depreciation in the domestic unit was largely linked to rising oil prices and disruptions in global supply chains following the closure of the Strait of Hormuz.

In the interbank foreign exchange market, the rupee opened at 96.38 per dollar and later touched an intraday high of 96.27 during the session.

By the close of trading, however, the currency settled at its record low of 96.70 against the US dollar, marking a steep decline of 50 paise from the previous close.

Index in the daily chart formed a small bearish candle with a long upper shadow signaling selling pressure at higher levels around the recent breakdown area of 23,800-23,900. Going ahead, failure to move above the recent breakdown area of 23,800-23,900, will keep the bias corrective and the index will consolidate with downward bias in the range of 23,200-23,900. 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 a pause in the recent downtrend.

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). The daily 14 periods RSI is facing resistance near its nine periods average highlighting corrective bias.