On May 15, the NIFTY 50 declined by 46.10 points or 0.19% to close at 23,643.50, while the BSE Sensex 30 fell 160.73 points or 0.21% to end at 75,237.99. According to latest reports, the market decline was primarily attributed to record rupee weakness with the Indian currency crossing the 96 per US dollar mark for the first time, ending near a record low of 95.94. Falling stocks outnumbered advancing ones by 1,601 to 903 on the NSE, with 57 stocks ending unchanged, while on the BSE, 2,312 fell against 1,611 advanced. The selling pressure was broad-based across key sectors, with Metal, Defence, PSU Banks, and Realty bearing the brunt of the selling, while IT, FMCG, and Pharma stocks held firm offering pockets of resilience. As per stockmarketsights, after a strong rally in recent sessions, Indian markets witnessed mild profit booking as weak global cues impacted investor sentiment.
Hindalco Industries dragged the NIFTY50 index, closing 3.47% lower at ₹1,065.00, leading the list of top losers on Friday. Other major decliners included Tata Steel (-1.96% to ₹216.80), Nestle India (-1.88% to ₹1,432.20), State Bank of India (-1.87% to ₹961.20), and IndusInd Bank (-1.81% to ₹890.00). The selling pressure was broad-based across key sectors, with Tata Steel's decline attributed to weak quarterly performance, while SBI faced pressure from banking sector concerns. Nestle India also declined 1.88% despite strong Q4 FY26 performance, as reported by Investing.com.
On the positive side, Tata Motors PV emerged as the top gainer with a 6.17% surge to ₹356.00, driven by strong Q4 FY26 performance. According to Investing.com, the company reported a consolidated net profit of ₹5,783 crore in Q4 FY26, as against the loss of ₹3,486 crore in the previous quarter. Other notable gainers included Dr. Reddy's Laboratories (3.04% to ₹1,343.20), Infosys (1.92% to ₹1,116.00), Tech Mahindra (2.04% to ₹1,372.70), and Coal India (1.84%). On the BSE Sensex 30, Tech Mahindra was the top performer at 2.04%, followed by Infosys at 1.95%. Kirloskar Oil Engines surged over 9% after reporting strong Q4 FY26 earnings and announcing a healthy dividend payout, while Tata Motors Passenger Vehicles also surged over 6% after reporting strong Q4 FY26 performance.
Crude oil for June delivery rose 3.30% to $104.51 per barrel, while the July Brent oil contract gained 3% to $108.56 per barrel, according to Investing.com. Brent crude oil prices jumped around 3% and traded above $108 per barrel amid ongoing geopolitical tensions and shipping disruptions in West Asia. Gold futures for June delivery declined 2.74% to $4,557.01 per troy ounce. The India VIX, which measures the implied volatility of Nifty 50 options, was up 0.99% to 18.80, indicating increased market uncertainty. USD/INR strengthened 0.21% to 95.77, while EUR/INR fell 0.07% to 111.68. The sharp depreciation increased concerns around imported inflation, higher corporate costs, and pressure on India's current account deficit.
On Thursday, foreign institutional investors (FIIs) bought shares worth ₹187.46 crore, while domestic institutional investors (DIIs) purchased equities worth ₹684.33 crore on a net basis, according to exchange data reported by The Economic Times. The positive DII inflows provided some support to the market despite the overall decline, indicating selective buying interest from domestic institutional investors. However, profit booking after the previous session's strong rally added to the downside pressure, with investors booking profits at higher levels after the strong rebound in the previous session.
