Benchmark indices Sensex and Nifty 50 snapped their two-session gaining streak on Friday, 15 May, amid profit booking triggered by weak global cues, surging crude oil prices, and the rupee sliding to a fresh record low against the US dollar. According to reports from LiveMint, the BSE Sensex declined 161 points, or 0.21%, to close at 75,237.99, while the NSE Nifty 50 slipped 46 points, or 0.19%, to settle at 23,643.50. Among Sensex constituents, Infosys, Tech Mahindra, and Power Grid Corporation of India emerged as the top gainers, while Tata Steel, Reliance Industries, and Eternal were among the major laggards. Selling pressure remained broad-based, with midcap and smallcap stocks also ending lower.
Despite FIIs dumping ₹2 lakh crore of Indian equities in 2026, foreign institutional investors have been quietly adding stakes in select companies across specialty chemicals, defence engineering, power equipment, and niche pharma sectors during the same quarter. As reported by market analysts, this pattern suggests capital is rotating rather than exiting the Indian market, with investors focusing on quality opportunities in specific sectors. The ₹2 lakh crore outflow represents a significant shift in foreign investment sentiment, but the underlying data shows selective interest in certain market segments continues to persist. Market participants are increasingly questioning the dependency on foreign institutional investors, with concerns about currency depreciation offsetting market gains.
In terms of sectors, stocks in metal, oil & gas, PSU banks, real estate, energy, and commodities experienced significant downturns of over 1% each, while the IT index rose by more than 1%. As reported by LiveMint, investor wealth decreased by over ₹2 lakh crore in just one trading session, causing the total market capitalisation of BSE-listed companies to drop to approximately ₹460.5 lakh crore from around ₹463 lakh crore in the last session. For the week, the Sensex fell by 2.7%, and the Nifty 50 dropped by 2.2%, bringing an end to their two-week streak of gains.
Global risk appetite weakened sharply after fresh escalation fears emerged in the Middle East. According to LiveMint, US President Donald Trump's warning urging Iran to "get moving, FAST" has once again revived concerns around a possible disruption in global crude oil supply routes, particularly around the Strait of Hormuz. As a result, Asian markets opened broadly lower, with South Korea's Kospi declining more than 3% while Japan's Nikkei slipped over 200 points. The biggest concern continues to be elevated crude oil prices and currency pressure, with any further escalation in geopolitical tensions potentially pushing oil prices higher and increasing the risk of imported inflation for India. Market participants are particularly concerned about the currency depreciation impact on FII returns, as the rupee's weakness offsets market gains despite positive stock performance.
Raja Venkatraman, Co-founder of NeoTrader and stock research platform MarketSmith India, recommended buying these five shares - Latent View Analytics Ltd, Amber Enterprises India Ltd, Graphite India Ltd, and Shreeji Shipping Global Ltd. According to LiveMint, Latent View Analytics is recommended as a buy above ₹310 with a stop loss at ₹287 and target price of ₹345, while Amber Enterprises India Ltd is suggested as a buy above ₹8,480 with a stop loss at ₹8,300 and target price of ₹8,950. Graphite India Ltd is recommended as a buy above ₹780 with a stop loss at ₹740 and target price of ₹855, and Shreeji Shipping Global Ltd is suggested as a buy at ₹427–433 with a target price of ₹500 in two to three months.
