Closing Bell: Sensex Surges 790 Points, Nifty 50 Ends Above 23,650; Bharti Airtel Jumps Over 5%

Market Update at 04:00 PM: Indian equity benchmarks extended gains for the second consecutive session on Thursday, May 14, with the Sensex and Nifty 50 closing over 1 per cent higher amid steady corporate earnings and optimism over improving U.S.-China trade relations. However, rising crude oil prices and continued foreign fund outflows kept investor sentiment cautious as the Indian rupee slipped to another record low against the U.S. dollar.

The Nifty 50 opened more than 100 points higher and witnessed a sharp Intraday rally throughout the session. The benchmark index settled near the 23,700 mark at 23,689.60, gaining 277 points or 1.18 per cent. The Sensex climbed 789.74 points, or 1.06 per cent, to close at 75,398.72. Meanwhile, the India VIX index, which measures market volatility, declined by 4 per cent, indicating easing volatility in the broader market.

Global crude oil prices remained elevated, adding pressure on emerging market currencies. Brent crude futures traded at USD 105.89 per barrel, while U.S. West Texas Intermediate crude futures stood at USD 101.33 per barrel, significantly above pre-war levels.

The Indian rupee hovered near record low levels at 95.72 against the U.S. dollar after touching a fresh low earlier in the session. The decline followed a Bloomberg report stating that India is considering significant Tax cuts for foreign bond investors, which weighed on the domestic currency.

On the sectoral front, 10 out of the 11 major sectoral indices ended in positive territory. Broader markets also witnessed buying interest, with the Nifty Midcap index rising 1.12 per cent. However, the Nifty Smallcap 100 index ended marginally lower by 0.01 per cent.

The Nifty Pharma index emerged as the top-performing sector, surging 2.74 per cent and hitting an all-time high. The rally marked the sector’s biggest intraday gain in the last three months, supported by strong buying across pharmaceutical counters.

In contrast, the Nifty IT index was the only sectoral loser, declining 1.99 per cent. The index extended losses for the fourth consecutive trading session and touched a fresh three-year low amid persistent weakness in technology stocks.

Among individual stocks, telecom major Bharti Airtel rallied 5.27 per cent after reporting a strong quarterly profit. The earnings growth was driven by customers shifting to higher-priced plans and continued strength in its Africa business operations.

State-owned energy company Oil India gained 2.06 per cent after posting improved quarterly earnings.

Heavyweight Banking stocks played a key role in lifting the benchmark indices. HDFC Bank contributed 66.39 points to the Nifty 50’s rise, followed by Bharti Airtel with 62.98 points and ICICI Bank with 16.17 points.

On the other hand, IT stocks capped gains in the market. Infosys dragged the index by 21.40 points, while Tata Consultancy Services and HCL Technologies weighed down the benchmark by 5.94 points and 4.41 points, respectively.

Market breadth remained positive on the NSE. Out of 3,370 stocks traded, 1,725 advanced, 1,540 declined, while 105 stocks remained unchanged.

A total of 77 stocks touched their 52-week highs during the session, whereas 49 stocks hit their 52-week lows. Additionally, 80 stocks were locked in Upper Circuits, while 105 stocks were locked in Lower Circuits.

Market Update at 2:29 PM: The Nifty50 and the Sensex surged tracking gains in metal, chemical, oil and gas stocks amid mixed global cues.

The Nifty50 was trading 139.45 points or 0.60 per cent higher at 23,494.70, and the Sensex was trading 280.31 points or 0.38 per cent higher at 74,839.55 as of 2:24 PM.

Cipla, Asian Paints, and Adani Enterprises were the Top Gainers in the Nifty50 index.

In the broader markets, the Nifty MidCap and Nifty SmallCap were trading 1.36 per cent and 0.71 per cent higher, respectively. 

Sector-wise, the Nifty Metal outperformed. Meanwhile, the Nifty PSU Bank and the Nifty Media underperformed.

On the external front, investors await the meeting between US President Donald Trump and Chinese President Xi Jinping, scheduled later today, where trade will be discussed. 

They also assessed Washington’s harsh stance on Iran post Trump’s fragile ceasefire remark to get further cues about the geopolitical tension in West Asia. 

 Brent crude’s May future contract was trading 1.27 per cent down at $106.40 per barrel on the Intercontinental Exchange. 

The Gold and the Silver futures were trading 0.36 per cent and 2.13  per cent higher, respectively.

Market Update at 12:11 PM: Indian equity benchmark indices traded higher on Thursday, with the Sensex and the Nifty 50 extending gains in midday trade as investors closely monitored the outcome of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.

As of 12 PM, the Nifty 50 was trading 269.50 points, or 1.15 per cent, higher at 23,682.10. The Sensex climbed 777.24 points, or 1.04 per cent, to 75,369.83.

Among the top gainers in the Nifty 50 index were Cipla, Adani Enterprises, and Bharti Airtel, supporting the broader market rally.

In the broader market segment, the Nifty MidCap index was up 0.09 per cent, while the Nifty SmallCap index slipped 0.77 per cent, indicating mixed trends outside the benchmark indices.

On the sectoral front, the Nifty Pharma, Nifty Healthcare, and Nifty Metal indices emerged as the top-performing sectors during the session. In contrast, the Nifty IT index witnessed the sharpest decline among sectoral gauges.

Investor sentiment also remained influenced by developments on the global front. Chinese President Xi Jinping stated that discussions with U.S. President Donald Trump would help lay out a vision for stable ties between China and the U.S., raising hopes of easing tensions between the world’s two largest economies.

Market Update at 09:33 AM: Indian equity benchmark indices traded higher on Thursday as investors remained cautious yet optimistic ahead of the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

The Nifty 50 was trading 140 points, or 0.60 per cent, higher at 23,555.65, while the Sensex advanced 335.41 points, or 0.45 per cent, to 75,013.06 during the session.

Among the top gainers on the Nifty 50 index were Cipla, Adani Enterprises, and Adani Ports & Special Economic Zone.

Broader markets also witnessed positive momentum, with the Nifty MidCap index rising 0.49 per cent and the Nifty SmallCap index gaining 0.59 per cent.

On the sectoral front, the Nifty Pharma and Nifty Healthcare indices emerged as the top performers, supported by buying interest in healthcare and pharmaceutical stocks. In contrast, the Nifty IT index was the biggest laggard during the session.

Investor sentiment remained focused on the outcome of the meeting between Trump and Xi Jinping, as market participants looked for signals regarding the future direction of the U.S.-China relationship and its potential impact on global trade and economic growth.

Pre-Market Update at 7:48 AM: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a positive note on Thursday, May 14, tracking strong global cues and gains across Asian markets.

Gift Nifty hovered around the 23,527 mark, trading at a premium of nearly 123 points over the previous close of Nifty futures, indicating a firm start for domestic equities. Asian markets traded higher, while Wall Street ended mostly in the green overnight, supported by a rally in technology stocks amid continued optimism around artificial intelligence (AI)-linked companies.

U.S. President Donald Trump arrived in Beijing on Wednesday for high-level talks with Chinese President Xi Jinping. Several leading U.S. business executives accompanied Trump, including Elon Musk and Jensen Huang.

Meanwhile, U.S. producer prices recorded their sharpest monthly increase in four years during April. The Producer Price Index (PPI) for final demand rose 1.4 per cent last month after a revised 0.7 per cent increase in March, significantly above Reuters estimates of 0.5 per cent growth. On an annual basis, PPI inflation accelerated to 6.0 per cent, the highest level since December 2022, compared with 4.3 per cent in March.

U.S. Treasury yields moved higher, with long-duration bond yields touching their highest levels since mid-2025. The benchmark 10-year Treasury yield stood at 4.473 per cent after briefly touching 4.50 per cent, while 30-year Treasury yields climbed above 5 per cent. Meanwhile, the 2-year Treasury yield eased slightly to 3.985 per cent after hitting its highest level since March.

Japan’s 10-year government bond yield extended gains for a fourth straight session amid rising inflation concerns. The benchmark 10-year JGB yield climbed 2 basis points to 2.605 per cent, its highest level since May 1997.

Crude oil prices also edged higher ahead of the Trump-Xi discussions and amid ongoing concerns surrounding the U.S.-Iran conflict. Brent crude futures rose 0.12 per cent to USD 105.76 per barrel, while U.S. WTI crude futures gained 0.12 per cent to USD 101.14 per barrel. The U.S. dollar strengthened due to elevated Treasury yields, with the dollar index rising to 98.46.

From a derivatives perspective, the Put-Call Ratio (PCR) stands at 0.80. On the Put side, major open interest concentration was seen at the 23,000 strike, followed by the 24,400 strike, indicating these levels could act as key support zones for the session. On the Call side, significant open interest addition was witnessed at the 23,900 strike during the previous session, suggesting it may act as a strong resistance level. In the near out-of-the-money strikes, heavy open interest was also concentrated at the 24,000 strike.

Technically, the Nifty 50 faces an immediate hurdle near 23,583. A decisive close above this level could push the index towards the May 12 gap zone of 23,757–23,799. Beyond this, the 50-day moving average near 23,872 is expected to act as a major resistance zone.

On the downside, immediate support is placed in the 23,123–23,154 range, which remains a crucial confluence zone of the 61.8 per cent Fibonacci retracement level, the measured move target of the recent breakdown, and the lower end of the April 8 gap. Holding above this support band will remain critical for sustaining hopes of a short-term recovery.

Several companies are also scheduled to announce their quarterly earnings on May 14, including JSW Steel, Hindustan Aeronautics Limited, Muthoot Finance, Indian Railway Finance Corporation, Tata Motors Passenger Vehicles, Siemens Energy India, United Spirits, Vishal Mega Mart, Housing & Urban Development Corporation, Voltas, Endurance Technologies, Global Health, Apollo Tyres, Data Patterns (India), Kirloskar Oil Engines, Sai Life Sciences, Great Eastern Shipping Company, Gujarat Mineral Development Corporation and Kalpataru Projects International.

For Thursday’s session, SAIL remains under the F&O ban list.

On May 12, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 4,703.15 crore. Domestic Institutional Investors (DIIs), however, were net buyers, purchasing shares worth Rs 5,869.05 crore during the same session.

The Indian stock market ended marginally higher on Wednesday, snapping a four-session losing streak. The Sensex gained 49.74 points, or 0.07 per cent, to close at 74,608.98, while the Nifty 50 advanced 33.05 points, or 0.14 per cent, to settle at 23,412.60.

U.S. markets ended mostly higher overnight, led by continued buying in AI-linked technology stocks. The Dow Jones Industrial Average slipped 67.36 points, or 0.14 per cent, to close at 49,693.20. The S&P 500 gained 43.29 points, or 0.58 per cent, to end at 7,444.25, while the Nasdaq Composite surged 314.14 points, or 1.20 per cent, to settle at 26,402.34.

Among major technology stocks, Nvidia rose 2.29 per cent, Apple gained 1.38 per cent, Amazon climbed 1.62 per cent, Meta advanced 2.26 per cent and Tesla jumped 2.73 per cent. Microsoft declined 0.63 per cent, while Ford Motor Company surged 13.2 per cent.

Gold prices also moved higher as investors monitored the Trump-Xi meeting. Spot gold rose 0.3 per cent to USD 4,699.87 per ounce, while spot silver declined 0.4 per cent to USD 87.64 per ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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