{"id":11977,"date":"2026-05-18T11:12:25","date_gmt":"2026-05-18T11:12:25","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=11977"},"modified":"2026-05-19T06:32:17","modified_gmt":"2026-05-19T06:32:17","slug":"sensex-nifty-rebound-it-leads","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/sensex-nifty-rebound-it-leads\/","title":{"rendered":"Sensex Today | Nifty 50 | Stock Market Highlights: Indices claw back from 1% slide as IT stocks lift close"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities reversed a sharp early selloff on Monday, 18 May, with the Sensex<\/strong> recovering over 1,100 points from the day\u2019s low to close at 75,315<\/strong>, and the Nifty 50<\/strong> ending flat near 23,650<\/strong>, helped by buying in IT and select largecaps despite a record-low rupee and Brent crude above $110<\/strong>.<\/p>\n\n\n\n

Market Overview<\/h2>\n\n\n\n
Index<\/strong><\/td>18 May Close<\/strong><\/td>Move & % Change<\/strong><\/td>Comments<\/strong><\/td><\/tr>
Sensex<\/strong><\/td>75,315.04<\/td>+77 pts (+0.10%)<\/td>Rebounded over 1,100 pts from intraday low near 74,180.<\/td><\/tr>
Nifty 50<\/strong><\/td>23,649.95<\/td>+6 pts (+0.03%)<\/td>Recovered more than 330 pts from low of 23,317.<\/td><\/tr>
Nifty Bank<\/strong><\/td>approx. 53,250<\/td>-450 pts (-0.8%)<\/td>Slid intraday to 52,783 before partial recovery.<\/td><\/tr>
BSE Midcap (150)<\/strong><\/td>n.a.<\/td>-0.43%<\/td>Underperformed; stayed in the red.<\/td><\/tr>
BSE Smallcap (250)<\/strong><\/td>n.a.<\/td>-1.71%<\/td>Deeper cut; broader selling pressure.<\/td><\/tr>
India VIX<\/strong><\/td>19.5\u201319.8<\/td>approx. +4\u20135%<\/td>Volatility stayed elevated near 19.5\u201319.8.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

    \n
  • Nifty 50 briefly slipped below 23,350<\/strong> in early trade before staging an afternoon rebound.<\/li>\n\n\n\n
  • Intraday crash erased up to \u20b97\u20139 lakh crore<\/strong> of BSE market capitalisation at the lows.<\/li>\n\n\n\n
  • Overall BSE market cap settled near \u20b9458 lakh crore<\/strong>, down about \u20b93 lakh crore<\/strong> versus Friday.<\/li>\n\n\n\n
  • Breadth stayed weak: about 2,382<\/strong> NSE stocks declined, 941<\/strong> advanced, 92<\/strong> were unchanged.<\/li>\n\n\n\n
  • Foreign investors were net buyers on Friday, adding \u20b91,329 crore<\/strong>, per provisional NSE data.<\/li>\n<\/ul>\n\n\n\n

    Key Movers<\/h2>\n\n\n\n

    Top Gainers (Sensex)<\/h3>\n\n\n\n
    Top Gainers<\/strong><\/td>Sector<\/strong><\/td>Notable Factor<\/strong><\/td><\/tr>
    Tech Mahindra<\/strong><\/td>IT<\/td>Rose around 4\u20135%; part of broad IT rebound.<\/td><\/tr>
    Infosys<\/strong><\/td>IT<\/td>Gained about 2\u20132.5%; supported Nifty IT strength.<\/td><\/tr>
    Bharti Airtel<\/strong><\/td>Telecom<\/td>Advanced nearly 1.5\u20132%; among key index supports.<\/td><\/tr>
    Sun Pharma<\/strong><\/td>Pharma<\/td>Added roughly 1.5%; pharma index edged higher.<\/td><\/tr>
    Bajaj Finserv<\/strong><\/td>Financials<\/td>Climbed about 1.5%; buying in select NBFCs.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Top Losers (Sensex)<\/h3>\n\n\n\n
    Top Losers<\/strong><\/td>Sector<\/strong><\/td>Notable Factor<\/strong><\/td><\/tr>
    Tata Steel<\/strong><\/td>Metals<\/td>Fell about 3.3%; among worst index performers.<\/td><\/tr>
    Power Grid<\/strong><\/td>Utilities<\/td>Declined around 3%; dragged broader indices.<\/td><\/tr>
    SBI<\/strong><\/td>PSU Bank<\/td>Dropped about 2.5%; part of banking weakness.<\/td><\/tr>
    NTPC<\/strong><\/td>Utilities<\/td>Lost around 1.8%; pressure in power names.<\/td><\/tr>
    Trent<\/strong><\/td>Retail<\/td>Fell nearly 1.7%; profit-taking at higher levels.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Bank-heavyweights like PNB<\/strong>, Canara Bank<\/strong>, Yes Bank<\/strong>, Union Bank<\/strong> slipped up to 3%<\/strong>.<\/li>\n\n\n\n
    • AU Small Finance Bank<\/strong>, Bank of Baroda<\/strong>, Axis Bank<\/strong>, IDFC First Bank<\/strong> fell over 1%<\/strong>.<\/li>\n\n\n\n
    • HDFC Bank<\/strong> and Federal Bank<\/strong> recovered from lows to end up to 1%<\/strong> higher.<\/li>\n<\/ul>\n\n\n\n

      Sectoral Action<\/h2>\n\n\n\n
      Sector\/Index<\/strong><\/td>Direction (approx.)<\/strong><\/td>Key Drivers<\/strong><\/td><\/tr>
      Nifty IT<\/strong><\/td>up 2.4%<\/td>Rupee weakness, export earnings aided second straight session of gains.<\/td><\/tr>
      Nifty Pharma<\/strong><\/td>up 0.5%<\/td>Defensive buying; several pharma stocks hit 52-week highs.<\/td><\/tr>
      Nifty Media<\/strong><\/td>down 2.2%<\/td>Broad risk-off; sector led laggards.<\/td><\/tr>
      Nifty PSU Bank<\/strong><\/td>down 1.9%<\/td>Rupee slide, bond yield spike hurt sentiment in state-run banks.<\/td><\/tr>
      Nifty Consumer Durables<\/strong><\/td>down 1.8%<\/td>Profit booking amid broader volatility.<\/td><\/tr>
      Nifty Auto<\/strong><\/td>down 1.7%<\/td>Pressure from macro worries and higher yields.<\/td><\/tr>
      Bank Nifty<\/strong><\/td>down 0.3%<\/td>Failed to hold gains; stayed below key moving averages.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

        \n
      • Nearly 100<\/strong> BSE stocks, including Sun Pharma<\/strong>, Ipca Labs<\/strong>, Gland Pharma<\/strong>, Laurus Labs<\/strong>, Solar Industries<\/strong>, hit 52-week highs.<\/li>\n\n\n\n
      • Around 80<\/strong> names, including Punjab National Bank<\/strong>, ICICI Prudential Life<\/strong>, SBI Cards<\/strong>, United Breweries<\/strong>, touched 52-week lows.<\/li>\n<\/ul>\n\n\n\n

        Technical Outlook<\/h2>\n\n\n\n

        Nifty 50<\/h3>\n\n\n\n
          \n
        • Immediate support seen in the 23,500\u201323,450<\/strong> zone by multiple analysts.<\/li>\n\n\n\n
        • A sustained move below 23,500<\/strong> could drag Nifty towards 23,300<\/strong>, then 23,150<\/strong> in the short term.<\/li>\n\n\n\n
        • Resistance is clustered around 23,850\u201323,900<\/strong>, near the 20-day EMA<\/strong>.<\/li>\n\n\n\n
        • Nifty is also facing resistance near the 61.8% Fibonacci retracement<\/strong> of the recent decline around 23,650<\/strong>.<\/li>\n\n\n\n
        • A decisive break above 23,650<\/strong> could open a move towards 24,000<\/strong> and higher.<\/li>\n\n\n\n
        • Broader trading band for the near term is pegged at 23,300\u201323,800<\/strong> by some strategists.<\/li>\n\n\n\n
        • “A decisive move above 23,650<\/strong> could trigger a short-term rally towards 24,000<\/strong> and higher levels. On the downside, immediate support is placed near 23,400<\/strong>.” – Rupak De, Senior Technical Analyst, LKP Securities.<\/li>\n<\/ul>\n\n\n\n

          Bank Nifty<\/h3>\n\n\n\n
            \n
          • Index slipped intraday to 52,783<\/strong>, then recovered to around 53,250<\/strong>.<\/li>\n\n\n\n
          • Analysts flag support near 53,200\u201353,000<\/strong>, with further downside towards 52,500\u201352,400<\/strong> if broken.<\/li>\n\n\n\n
          • Resistance is seen around 54,200\u201354,500<\/strong>, coinciding with breakdown and moving average zones.<\/li>\n\n\n\n
          • Bank Nifty remains below its 20-day moving average<\/strong>, with RSI near 42<\/strong>, indicating a weak undertone.<\/li>\n\n\n\n
          • “The index continues to trade below its crucial short-term 20-day moving average, which suggests a cautious undertone in the near term.” \u2014 Vatsal Bhuva, Technical Analyst, LKP Securities.<\/li>\n<\/ul>\n\n\n\n

            Macro & Global Cues<\/h3>\n\n\n\n

            Key Market Statistics<\/h3>\n\n\n\n
            Statistic<\/strong><\/td>Value\/Change<\/strong><\/td>Context<\/strong><\/td><\/tr>
            USD\/INR close<\/strong><\/td>96.33\u201396.35 (record low)<\/td>Fifth straight record low; rupee Asia\u2019s weakest in 2026.<\/td><\/tr>
            Brent crude<\/strong><\/td>around $111\/bbl<\/td>Jumped about 2%; Middle East tensions, supply fears.<\/td><\/tr>
            US 10-year yield<\/strong><\/td>around 4.62%<\/td>Near one-year high; weighs on EM risk assets.<\/td><\/tr>
            India VIX<\/strong><\/td>~19.5\u201319.8<\/td>Elevated volatility; remains above comfort zone of 18.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
              \n
            • Rupee has fallen about 5.5%<\/strong> since the Iran\u2013US conflict escalated on 28 February<\/strong>.<\/li>\n\n\n\n
            • Higher crude and yields raise concerns on inflation, fiscal stress and imported price pressures.<\/li>\n\n\n\n
            • Rising global bond yields and a stronger dollar are encouraging foreign outflows from emerging markets.<\/li>\n<\/ul>\n\n\n\n

              Global Markets Snapshot<\/h3>\n\n\n\n
              Market\/Asset<\/strong><\/td>Movement<\/strong><\/td>Notes<\/strong><\/td><\/tr>
              US equities (Dow, S&P 500, Nasdaq)<\/strong><\/td>around -1.1% to -1.5% last session<\/td>Pressured by higher yields, crude spike.<\/td><\/tr>
              Japan Nikkei \/ Topix<\/strong><\/td>around -1.0% \/ -0.9%<\/td>Hit by higher JGB yields, risk-off mood.<\/td><\/tr>
              South Korea Kospi<\/strong><\/td>-1.3%<\/td>Tech-heavy index tracked US weakness.<\/td><\/tr>
              Hong Kong Hang Seng<\/strong><\/td>down over 1%<\/td>Futures signalled weak open on Monday.<\/td><\/tr>
              Brent crude<\/strong><\/td>+2.3% to about $111.8<\/td>Reacted to drone attack near UAE nuclear plant.<\/td><\/tr>
              WTI crude<\/strong><\/td>+2.8% to about $108.4<\/td>Mirrored Brent gains on supply risks.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

              Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

                \n
              • A drone attack near the UAE\u2019s Barakah nuclear power plant and fresh warnings from the US president to Iran kept geopolitical risk elevated.<\/li>\n\n\n\n
              • US and Japanese bond yields climbed to multi-year highs, reinforcing the appeal of developed-market fixed income.<\/li>\n<\/ul>\n\n\n\n

                Flows and Positioning<\/h2>\n\n\n\n
                  \n
                • Foreign institutional investors remained net buyers on Friday, with \u20b91,329 crore<\/strong> of equity purchases, per provisional NSE data.<\/li>\n\n\n\n
                • Over the last two sessions, FIIs bought \u20b92,430 crore<\/strong>, a small offset to earlier heavy selling.<\/li>\n\n\n\n
                • Despite the intraday rebound, analysts highlight continued caution, with traders advised to avoid high leverage and focus on stock-specific, hedged strategies.<\/li>\n<\/ul>\n\n\n\n

                  Outlook<\/h2>\n\n\n\n
                    \n
                  • Nifty\u2019s failure so far to reclaim the 23,800\u201324,000<\/strong> band keeps the short-term trend corrective.<\/li>\n\n\n\n
                  • Elevated India VIX<\/strong>, a record-low rupee and Brent above $110<\/strong> suggest volatility may persist.<\/li>\n\n\n\n
                  • IT and pharma are emerging as relative outperformers, aided by currency tailwinds and defensive positioning.<\/li>\n\n\n\n
                  • Banking and PSU names remain under pressure from rising yields and concerns over treasury portfolios.<\/li>\n<\/ul>\n\n\n\n

                    FAQs<\/h2>\n\n\n
                    \n
                    \n
                    \n

                    Why did the market recover after a sharp intraday fall?<\/strong><\/h3>\n
                    \n\n

                    Buying in largecap IT, telecom and select financials emerged near key support zones, helping Nifty and Sensex recoup early losses despite weak global cues.<\/p>\n\n<\/div>\n<\/div>\n

                    \n

                    How is the rupee\u2019s record low affecting equities?<\/strong><\/h3>\n
                    \n\n

                    The weaker rupee is negative for imported-inflation and banks but supports export-oriented sectors like IT and pharma, driving sectoral divergence in the indices.<\/p>\n\n<\/div>\n<\/div>\n

                    \n

                    What key levels should traders watch on Nifty this week?<\/strong><\/h3>\n
                    \n\n

                    Analysts flag support around 23,400\u201323,300 and resistance near 23,650\u201323,900; a break of either side could set the next short-term move.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

                    Indian equities reversed a sharp early selloff on Monday, 18 May, with the Sensex recovering over 1,100 points from the day\u2019s low to close at 75,315, and the Nifty 50 ending flat near 23,650, helped by buying in IT and select largecaps despite a record-low rupee and Brent crude above $110. Market Overview Index 18 […]<\/p>\n","protected":false},"author":15,"featured_media":11981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[512],"tags":[546,544,545,515],"class_list":["post-11977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates","tag-it-stock","tag-nifty","tag-sensex","tag-stock-market"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8.png",890,475,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8.png",890,475,false],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8.png",890,475,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8.png",890,475,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-640x475.png",640,475,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/05\/unnamed-8-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"yudh","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"Indian equities reversed a sharp early selloff on Monday, 18 May, with the Sensex recovering over 1,100 points from the day\u2019s low to close at 75,315, and the Nifty 50 ending flat near 23,650, helped by buying in IT and select largecaps despite a record-low rupee and Brent crude above $110. Market Overview Index 18…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=11977"}],"version-history":[{"count":3,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11977\/revisions"}],"predecessor-version":[{"id":11985,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11977\/revisions\/11985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/11981"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=11977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=11977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=11977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}