The Indian equity benchmarks staged a dramatic intraday recovery on Monday, May 18, after nearly losing 400 points from the open before closing almost flat. According to reports from The Economic Times, the SENSEX ended 77 points higher at 75,315 and the NIFTY50 index advanced 6 points to close at 23,650. The recovery was particularly impressive as the NIFTY50 crawled back from an intraday low of 23,317 to close nearly flat, demonstrating remarkable resilience in volatile trading conditions. The SENSEX recovered as much as 1,286 points during the session, touching an intraday high of 23,695 after the dramatic early decline. As per latest reports, the NIFTY recouped nearly 200 points by close even as global concerns kept sentiment cautious throughout the volatile trading session.
Asian markets ended lower as sentiment turned negative after crude oil moved above $110 per barrel. According to reports from The Economic Times, Japan's Nikkei fell 1.08%, China's Shanghai Composite declined 0.09% and Hong Kong's Hang Seng dropped 1.11%. The crude oil price surge was attributed to war in Iran dragging on for another week and efforts to reopen the Strait of Hormuz showing no signs of progress. A drone strike caused a fire at a nuclear power plant in the United Arab Emirates, while Saudi Arabia reported intercepting three drones. Rising crude oil prices remained the key overhang after Brent crude climbed above $110 per barrel, fuelling worries around inflation, fiscal pressure, and rupee weakness. Traders also kept an eye on currency movement and expectations around possible policy responses from the RBI and government if crude prices remain elevated.
According to reports from The Economic Times, Tech Mahindra was the top gainer in the NIFTY50 index, rising 4.85% to close at ₹1,437. Other major gainers included Infosys, Bharti Airtel, Sun Pharma, Wipro, Bajaj Finance, Bajaj Finserv and HCL Technologies, which rose between 1.14% and 2.38%. Banking and select heavyweight stocks helped indices recover intraday losses, with the recovery primarily supported by strong performance in IT stocks. However, broader market sentiment remained subdued with most shares still trading in negative territory. Despite the rebound from lower levels, volatility stayed high through the session as participants balanced domestic resilience against mounting global macro-economic risks.
As reported by The Economic Times, 10 of 15 sector gauges compiled by the National Stock Exchange (NSE) ended higher, led by the NIFTY PSU Bank index's 1.9% fall. The NIFTY Consumer Durables, Oil & Gas, Realty, Auto and Metal indices fell between 0.8% and 1.8%. On the positive side, IT, pharma, healthcare and private bank shares witnessed buying interest. Broader markets also witnessed selling pressure as the NIFTY Midcap 100 index declined 0.15% and the NIFTY Smallcap 100 index dropped 1.3%. Investors tracked global bond yields, FII activity, and geopolitical developments closely during the volatile session.
According to reports from The Economic Times, Power Grid declined 2.93% to settle at ₹296 after reporting weak operational performance in the fourth quarter of financial year 2025-26. The company earned a net profit of ₹4,552.80 crore in January-March quarter, marking an increase of 5% from ₹4,336 crore in the same period last financial year. However, revenue from operations declined 9% to ₹9,971 crore at the end of March quarter from ₹10,983 crore in the year-ago period. Other top laggards included NTPC, State Bank of India, Bajaj Auto, Eicher Motors, Trent, Maruti Suzuki, Hindalco and Mahindra & Mahindra.
