The Indian stock market is likely to snap its gaining streak as trends in the Gift Nifty index signalled a negative opening on Monday. According to reports from Live Mint, Gift Nifty was trading near the 23,521 mark, down over 186 points from the previous close of Nifty futures. This follows Friday's session where benchmark indices Sensex and Nifty 50 snapped their two-day winning run, with the Sensex slipping 161 points, or 0.21%, to end at 75,237.99, while the Nifty 50 fell 46 points, or 0.19%, to close at 23,643.50. As reported by Enrich Money's Ponmudi R, the market decline was attributed to profit booking, weak global cues, sharp jump in crude oil prices, and the rupee falling to a fresh all-time low against the US dollar. Last week, the 30-share BSE Sensex plunged 2,090.2 points, or 2.7%, while the 50-share NSE Nifty declined 532.65 points, or 2.2%.
Several stocks are expected to remain in focus today due to their quarterly results announcements. According to Live Mint, Indian Oil, Ola Electric, and JSW Cement will release their Q4 results today. The results will provide crucial insights into these companies' performance during the quarter and their future business outlook. These announcements come at a time when the broader market sentiment remains cautious amid geopolitical uncertainties and ongoing market volatility.
Several companies reported strong quarterly performance with significant year-on-year growth. Hindustan Copper reported a consolidated net profit of ₹444 crore for the quarter ended March, compared to ₹189 crore in the corresponding period last year, marking a 134% year-on-year increase. Tata Steel posted a consolidated net profit of ₹2,965 crore for the quarter ended March, compared with ₹1,201 crore in the corresponding period last year, marking a 147% increase. Steel Authority of India on Friday posted a 46.7% year-on-year increase in consolidated net profit for the fourth quarter at ₹1,836 crore, compared with ₹1,251 crore in the corresponding period last year. Power Grid Corporation of India reported a 9.7% year-on-year increase in consolidated net profit for Q4FY26, which stood at ₹4,546.3 crore.
Power Finance Corporation has taken another step toward its proposed merger with REC Limited after its board approved seeking formal consent from the President of India for the deal. According to Live Mint, Emcure Pharma announced that the United States Food and Drug Administration (US FDA) carried out a current Good Manufacturing Practices (cGMP) inspection at its formulations manufacturing facility in Sanand, Ahmedabad, Gujarat, between May 6 and May 15, 2026. However, some companies faced challenges, with NCC Ltd posting an 18.8% year-on-year drop in consolidated net profit for the fourth quarter, with profit falling to ₹206 crore from ₹253.8 crore reported in the corresponding period last year.
According to Enrich Money's Ponmudi R, Indian markets are likely to open on a cautious note as renewed geopolitical rhetoric from the U.S. continues to weigh on global investor sentiment. As reported by Live Mint, U.S. President Donald Trump issued a fresh warning stating that the "clock is ticking for Iran," signaling growing impatience over the pace of negotiations and increasing uncertainty surrounding the ongoing U.S.–Iran situation and the Strait of Hormuz. This continues to remain a key overhang for global financial markets, contributing to the cautious market sentiment expected today. Market analysts emphasize that going into the week ahead, the key focus will continue to remain on geopolitical developments and the trajectory of crude oil prices, with investors also closely monitoring rupee movement, institutional flow trends and global equity performance for directional cues.
