Indian markets opened significantly higher on May 14, with the BSE Sensex surging 397.73 points or 0.53% to 75,006.71 and the Nifty 50 climbing 156.20 points or 0.67% to 23,568.80 at 9:18 am, building on Wednesday's recovery that snapped a four-session losing streak. According to reports from HDFC Securities, the opening gains reflect a cautious but discernible shift in investor mood, with broad-based buying visible across pharma, metal, oil-linked and infrastructure counters. Markets appear to be pricing in the possibility that the Trump-Xi meeting could unlock some diplomatic momentum on the Iran front, reducing the geopolitical premium that has weighed on sentiment in recent sessions. The recovery comes after both benchmarks had declined around 4% over the previous four sessions, weighed down by rising oil prices and concerns over the economic impact of ongoing US-Iran tensions. Market breadth remained encouraging with 2,328 stocks advancing against 1,690 declines, while the Nifty Midcap 100 outperformed benchmarks with a 0.8% gain.
Among the Nifty 50 gainers at the open, Cipla led the pack with a sharp 7.11% advance to ₹1,422.00 from its previous close of ₹1,327.60, followed by Adani Enterprises which gained 3.72% to ₹2,591.00. Adani Ports rose 1.74% to ₹1,768.00, while NTPC and Power Grid both added 1.69% each to trade at ₹397.05 and ₹306.60, respectively. On the losing side, IT stocks bore the brunt of selling — HCL Technologies slipped 1.34% to ₹1,127.90, TCS fell 0.99% to ₹2,250.30, and Tech Mahindra shed 0.87% to ₹1,363.00. Dr. Reddy's declined 0.58% to ₹1,258.00 and Infosys eased 0.43% to ₹1,118.30. In the broader markets, the Nifty Midcap 100 opened 0.65% higher at 60,557.15 and the Nifty Smallcap 100 gained 0.70% to 18,120.80, with buying spread across market capitalisations.
On the sectoral front, Nifty Pharma led gains with a 1.38% advance to 24,226.55, followed by Nifty Metal which rose 1.23% to 13,453.80. Nifty Infrastructure gained 0.97% to 9,327.70 and Nifty Oil & Gas added 0.70% to 11,517.05. However, Nifty IT continued its recent slide, declining 0.99% to 27,639.60, while Nifty Consumer Durables barely moved, inching up a marginal 0.11% to 35,251.75 — underperforming the broader market by a wide margin. HPCL surged over 5% after strong earnings, while India VIX edged up 0.73% to 19.42, signalling caution rather than outright fear. As reported by HDFC Securities, the Iran conflict remains the dominant macro overhang for global markets, with ceasefire prospects looking increasingly fragile as US President Donald Trump's aides look to Beijing — the largest buyer of Iranian oil — to persuade Tehran to return to the negotiating table.
HPCL has managed to reclaim its 50 EMA on the daily chart after briefly slipping below it, with the latest bounce accompanied by higher volumes and momentum indicators turning supportive. The stock is advised to buy above ₹377 with a stop loss at ₹367 and target price of ₹410 over a short-term period. NALCO witnessed a rebound after taking support near its 50 EMA, with the RSI moving into a bullish crossover on the hourly chart, though selling is recommended in the ₹830-840 zone with stop-loss at ₹880. Hindustan Copper shows a bullish continuation pattern resembling a cup-and-handle breakout, trading above the 50 DMA with RSI in bullish zone, targeting ₹649 with support at ₹568. Sharda Cropchem has confirmed an ascending triangle breakout, trading above both 20-day and 50-day EMAs with RSI in bullish momentum zone, recommending accumulation in ₹420-415 zone with stop-loss at ₹398. Biocon has turned technically strong after breaking out from downward-sloping trendline with sharp volume surge, targeting ₹455 with accumulation zone at ₹420-415.
Asian markets opened mixed on Thursday morning, with the Hang Seng Index advancing 0.62% to 26,551.46 and Japan's Nikkei 225 rising 0.28% to 63,448.87, suggesting cautious optimism ahead of the Trump-Xi summit. However, Indonesia's JSX Composite fell 1.98% to 6,723.32 and Pakistan's KSE 100 slipped 0.87% to 167,451.14, with the Shanghai Composite also retreating 0.66% to 4,214.76. Wall Street closed Wednesday's session on a broadly positive note, with the Nasdaq Composite leading gains at 1.20% to settle at 26,402.34, supported by technology buying, while the S&P 500 rose 0.58% to 7,444.25. The recommendations come with specific risk factors including raw material price volatility, regulatory risks, and high leverage for some of the recommended stocks. HDFC Securities notes that while the market may extend gains amid range-bound trading, sustainability remains key for continued upward momentum, with volatility remaining a key factor to monitor.
