Mumbai, May 18: Amid ongoing tensions in West Asia and mixed signals from global markets, the Indian stock market made a remarkable recovery on the first trading day of the week. The major benchmark indices closed in the green after bouncing back from significant lows. The BSE Sensex recovered over 1,100 points from its intraday low, while the NSE Nifty 50 gained more than 300 points from its lowest point of the day.
The Sensex, comprising 30 stocks, closed up by 77.05 points or 0.10% at 75,315.04. Meanwhile, the Nifty 50 ended with a slight increase of 6.45 points or 0.03%, closing at 23,649.95.
In contrast, the broader market underperformed compared to the major benchmarks. The Nifty Smallcap Index fell by 1.26%, and the Nifty Midcap Index saw a decline of 0.15%.
Sector-wise, the Nifty IT index recorded a gain of 2.43%, outperforming other sectors. The Nifty Pharma, Nifty Private Bank, and Nifty Healthcare indices also performed well. However, the Nifty Media, Nifty Consumer Durables, and Nifty PSU Bank indices faced the most significant declines. Additionally, the Nifty Metal, Nifty Oil and Gas, and Nifty Realty sectors also struggled.
Among the Nifty 50 stocks, Tech Mahindra, Infosys, Bharti Airtel, Sun Pharma, Wipro, Bajaj Finance, Bajaj Finserv, HCL Tech, TCS, and Kotak Bank saw the highest gains. Conversely, Tata Steel, Powergrid, NTPC, SBI, Bajaj Auto, Eicher Motors, Trent, and Maruti recorded the most significant losses.
During this period, the total market capitalization of companies listed on the BSE decreased from ₹461 lakh crore to ₹458 lakh crore, resulting in an approximate loss of ₹3 lakh crore for investors in just one session.
Brent crude traded above $110 per barrel, while the Indian rupee stood at 93.12 against the US dollar.
Market experts suggest that rising crude oil prices and uncertainty surrounding the Middle East conflict have kept the market atmosphere cautious due to the rupee’s weakness.
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