Indian equity benchmark indices Sensex and Nifty50 staged a dramatic recovery from steep intraday losses to close marginally higher on Tuesday. According to latest reports, the 30-share BSE Sensex, which had fallen more than 1,000 points during the day, recovered over 1,100 points from its lowest level before ending in the green at 75,315.04, up 77 points or 0.10%. Similarly, the NSE Nifty 50 slipped to an intraday low of 23,317 but later rebounded by more than 300 points to close at 23,649.95, gaining 6 points or 0.03%. At 7:30 AM, GIFT Nifty futures were trading 67 points higher at 23,682 as reported by Business Standard.
Shares of all 10 listed Adani Group companies are likely to remain in focus after the US Department of Justice reportedly dropped all criminal charges against founder and chairman Gautam Adani and his nephew Sagar Adani. As reported by Business Standard, the move effectively brings the high-profile securities and wire fraud case in New York to a close, with prosecutors reportedly concluding that the allegations could not be sustained. This development represents a significant milestone for the Adani Group's legal proceedings in the international market.
Shares of OMCs, including BPCL, HPCL, and Indian Oil, will be in focus after petrol and diesel prices were raised by 90 paise per litre on Tuesday (May 19, 2026), marking the second hike in less than a week. According to Business Standard, following the revision, petrol prices in Delhi increased to ₹98.64 per litre from ₹97.77, while diesel rates rose to ₹91.58 per litre from ₹90.67. The price adjustment reflects ongoing fuel cost pressures and their impact on oil marketing companies' operations.
JSW Energy sold 2.5 crore shares of JSW Steel through block deals worth nearly ₹3,150 crore, as reported by Business Standard. Among the buyers, GQG Partners Emerging Markets Equity Fund acquired 1.5 crore shares valued at around ₹1,890 crore at ₹1,260 per share, while SBI Mutual Fund purchased 1 crore shares worth close to ₹1,260 crore at the same price. This significant transaction highlights continued institutional interest in the steel sector, with JSW Energy also confirming that after the bulk deal, JSW Steel's remaining stake in the company stands at 4.5 crore shares.
Indian Oil Corporation reported a strong financial performance for the quarter with net profit jumping 56.6% year-on-year to ₹11,377.51 crore, compared to ₹7,264.85 crore in the same period last year, according to latest reports. The growth was mainly supported by healthy refining and marketing margins. Puravankara reported a net profit of ₹110 crore in the January-March 2026 quarter (Q4FY26), a turnaround from a loss of ₹88 crore in the year-ago period, according to Business Standard. The real estate company's revenue jumped 117.3 per cent to ₹1,501.9 crore compared to ₹541.6 crore in the previous year. Astral's revenue in the March 2026 quarter increased 24.2 per cent year-on-year to ₹2,089 crore while net profit jumped 18.8 per cent to ₹213 crore.
