Sensex Today | Nifty 50 | Stock Market Highlights: Indices ease as rupee hits record low, oil nears $110
Indian equities ended lower on Friday as a record weak rupee and higher crude prices triggered profit booking, with the Sensex slipping 161 points to 75,237.99 and the Nifty 50 losing 46 points to close at 23,643.50, wiping out part of Thursday’s short-covering-led rebound.
Market overview
| Index | 15 May Close | Move & % Change | Comments |
| Sensex | 75,237.99 | -161 pts (-0.21%) | Gave up intraday gains as rupee weakened and global equities fell. |
| Nifty 50 | 23,643.50 | -46 pts (-0.19%) | Closed below 23,650 after testing higher levels intraday. |
| Nifty Midcap 100 | approx. | up to -0.6% | Midcaps underperformed, mirroring broad-based selling. |
| Nifty Smallcap 100 | approx. | up to -0.6% | Smallcaps also ended lower amid risk-off mood. |
| BSE 150 Midcap | approx. | -0.48% | Decline underscored pressure beyond frontline stocks. |
| BSE 250 Smallcap | approx. | -0.37% | Losses modest but breadth negative. |
| India VIX | near 19 | approx. +1% | Volatility stayed elevated after a near 9% intraday spike. |
Note: figures are approximate; final exchange data not available at time of publication.
- Frontline indices snapped a two-session winning streak.
- Weekly performance: Sensex down 2.7%, Nifty 50 down 2.2%.
- BSE market capitalisation fell to ₹460.5 lakh crore from nearly ₹463 lakh crore.
- Investors lost more than ₹2 lakh crore in notional wealth in one session.
- Around 2,028 stocks declined on NSE, 1,219 advanced, 119 unchanged.
Key movers
Top gainers
| Top Gainers | Sector | Notable Factor |
| Infosys | IT | Benefited from weaker rupee; IT index outperformed. |
| Tech Mahindra | IT | Gained around 2% on currency tailwind and sector buying. |
| Power Grid | Power | Among few defensive gainers in Sensex basket. |
| Nifty IT index | IT | Rose more than 1% on export earnings support. |
| Nifty Media | Media | Advanced 1–2% amid selective buying. |
- IT outperformance contrasted with selling in cyclicals and rate-sensitive pockets.
Top losers
| Top Losers | Sector | Notable Factor |
| Tata Steel | Metals | Fell 1–2% as Nifty Metal index dropped about 2%. |
| Eternal (Zomato parent) | Consumer/Internet | Declined 1–2% on risk-off sentiment in high beta names. |
| Reliance Industries | Energy | Slipped around 2% amid oil volatility and currency weakness. |
| UltraTech Cement | Cement | Corrected 1–2% tracking broader cyclical selling. |
| M&M | Auto | Declined 1–2% as investors booked profits in autos. |
| State Bank of India | PSU Bank | Weighed on Nifty PSU Bank index, which fell about 2%. |
| Hindalco | Metals | Dropped around 3% by close, tracking global metals weakness. |
- HUDCO fell over 8% despite a 172% YoY jump in Q4 net profit to ₹1,981 crore.
- HUDCO’s profit before tax declined 39% YoY to ₹621 crore, aided by ₹1,530 crore deferred tax gain.
- Muthoot Finance dropped more than 8% even as standalone Q4 net profit rose 105% YoY to ₹3,086 crore.
- Several Adani Group stocks gained up to 3% on optimism around a potential settlement of US regulatory proceedings.
Sectoral action
| Sector/Index | Direction (approx.) | Key Drivers |
| Nifty Metal / BSE Metal | down around 2% | Global risk-off, stronger dollar and profit-taking in metals. |
| Nifty PSU Bank | down around 2% | Pressure from SBI and other state-run lenders. |
| Nifty Realty | down around 2% | Rate and inflation worries hit rate-sensitive names. |
| BSE Oil & Gas / Energy | down over 1% | Higher crude and fuel price hikes revived margin concerns. |
| BSE Commodities | down over 1% | Broad commodity weakness, including copper slide. |
| BSE IT / Nifty IT | up over 1% | Rupee depreciation supported export earnings outlook. |
| Nifty Media | up 1–2% | Stock-specific buying in select media names. |
Note: figures are approximate; final exchange data not available at time of publication.
- Sectoral moves reflected a rotation out of cyclicals into export-oriented IT.
- Fuel price hikes of ₹3 per litre for petrol and diesel added to inflation concerns.
Macro and key market statistics
| Statistic | Value/Change | Context |
| USD/INR close | 95.94–95.96 | Rupee ended at a record low after breaching 96 intraday. |
| Intraday rupee low | 96.07 per dollar | First ever move beyond 96; pressure from oil and outflows. |
| Weekly rupee move | down about 1.5% | Reflects sustained weakness year to date. |
| Brent crude | around $108–109/bbl | Gained over 3%, remains above $100. |
| WTI crude | about $105/bbl | Rose nearly 4% intraday. |
| India VIX | near 19 | Up about 1% on day; nearly 9% intraday spike from low. |
| FII flows (Thu) | ₹187 crore net buy | First net buying after seven sessions of selling, per NSE data. |
- Rupee weakness driven by elevated crude, strong dollar and higher US yields.
- India’s imports from West Asia fell 31.64% YoY in April to $10.47 billion.
- Market participants tracked the US President’s talks in Beijing and developments in West Asia.
- “Investors have turned cautious post the recent relief rally, with rising bond yields, a weaker rupee, and fresh fuel price hikes reviving inflation concerns,” said Vinod Nair, Head of Research, Geojit Investments.
- “Focus has shifted to potential fiscal and monetary measures to defend the rupee and stabilise the Balance of Payment,” Nair added.
Technical outlook for Nifty and Sensex
Nifty 50 levels
- Nifty has been forming lower tops on the daily chart, signalling a bearish setup.
- Index is facing resistance at the 20-day EMA and 50-week EMA.
- India VIX’s near 9% intraday surge reflects rising risk aversion.
- RSI remains in a bearish crossover, indicating weak momentum.
- “In the near term, the index may witness renewed selling pressure once Nifty falls below 23,500,” said Rupak De, Senior Technical Analyst, LKP Securities.
- De sees downside targets at 23,150 and lower if 23,500 breaks.
- He pegs 23,800 as a key short-term resistance or point of polarity.
- According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, immediate support lies in the 23,500–23,450 zone.
- Shah expects further weakness towards 23,300, followed by 23,150, on a sustained break below this band.
- On the upside, Shah places resistance in the 23,800–23,850 range.
Sensex and derivatives positioning
- Thursday’s 789-point Sensex rally was driven largely by short covering.
- Market commentary highlighted heavy FII short positioning prior to the rebound.
- Options data showed notable call writing at 23,800 and 23,700 Nifty strikes.
- Put writing was concentrated at 23,500 and 23,600, indicating shifting support.
- For Sensex, intraday support was seen around 75,000, with resistance near 75,800.
Global cues
| Market/Asset | Movement | Notes |
| Kospi (South Korea) | around -6% | Asian risk sentiment weakened sharply. |
| Nikkei (Japan) | around -3% | Japanese equities corrected after recent gains. |
| Hang Seng (Hong Kong) | over -2% | China-linked risk assets under pressure. |
| Shanghai Composite | over -1% | Mainland Chinese shares slipped. |
| DAX (Germany) | around -2% | European indices tracked global risk-off. |
| FTSE (UK) | more than -1% | Energy and financials weighed. |
| CAC (France) | more than -1% | Broad-based European selling. |
| Brent crude | +3% (approx.) | Near $109, supported by Hormuz shipping risks. |
| WTI crude | +4% (approx.) | Around $105, reflecting supply concerns. |
| US indices (Thu) | positive | S&P 500 and Nasdaq closed at record highs. |
Note: figures are approximate; final exchange data not available at time of publication.
- Global markets reacted to reports of ship seizures near the Strait of Hormuz.
- The White House said US and Chinese leaders agreed on keeping Hormuz open.
- Crude remains above $100 despite some earlier cooling from near $130.
- The dollar index firmed to a two-week high, pressuring emerging market currencies.
FAQs
Why did Sensex and Nifty fall today?
Profit booking after Thursday’s short-covering rally.
Rupee hitting a fresh record low beyond 96 per dollar.
Brent crude rising above $108 per barrel, reviving inflation worries.
Weak global cues, with sharp declines in Asian and European markets.
Which sectors were most impacted in today’s session?
Metals, PSU banks, realty, oil and gas, energy and commodities led declines.
IT and media indices bucked the trend and ended higher.
What key levels should traders watch on Nifty in the near term?
Immediate support: 23,500–23,450 zone.
Further downside levels: 23,300 and 23,150 if support breaks.
Resistance: 23,800–23,850; a move above could ease near-term pressure.
Why did Sensex and Nifty close lower despite an early positive start?
Indices reversed intraday gains as the rupee hit a record low beyond 96 per dollar, crude stayed above $100 and global equities weakened, prompting profit booking across metals, PSU banks, realty and energy stocks.
How did the rupee and crude oil influence market sentiment today?
The rupee’s slide to a fresh lifetime low near 95.96 per dollar and Brent crude’s rise above $108 per barrel raised concerns over imported inflation, corporate margins and the balance of payments, keeping investors cautious.
Which stocks and sectors outperformed in an otherwise weak market?
IT stocks such as Infosys and Tech Mahindra gained around 2%, lifting Nifty IT and BSE IT indices over 1%, while the media index also advanced, supported by the earnings boost from a weaker rupee and selective buying.
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