Opening Bell - Morning Commentary - 15 May 2026

Authored By Prime Research | Last Modified: May 15, 2026 10:04 AM IST

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Dow Reclaims 50000, Constructive Signals from the Trump-Xi Summit, Domestic Fuel Prices Hiked by Rs 3 per Litre

U.S. equity markets surged Thursday as the Dow reclaimed the 50,000 milestone and the S&P 500 and Nasdaq both closed at record highs.

The rally was driven by AI optimism, the blockbuster Cerebras IPO, and constructive signals from the Trump-Xi summit in Beijing — where Boeing and Nvidia deal announcements drew particular attention.

Cisco jumped more than 13% after beating Q3 earnings estimates and raising its full-year revenue guidance. Cerebras soared 68–99% in its market debut, the largest IPO of 2026.

Nvidia gained over 4% after reports that the U.S. cleared several Chinese firms to purchase its H200 chips.

Treasury yields were little changed, with the 10-year hovering near 4.48%. Inflation data remained mixed producer and consumer prices stayed elevated, though wholesale prices posted a surprise decline earlier in the week. The Treasury is managing a $125 billion securities refunding maturing today.

Oil prices pulled back, as traders balanced cautious summit optimism against the continued closure of the Strait of Hormuz amid the U.S.-Iran conflict.

The EIA raised its U.S. crude production forecast to 13.65 million bpd, while OPEC trimmed its 2026 demand-growth outlook citing the impact of regional conflicts on trade routes. It projects global oil demand to contract by 420,000 barrels per day year-over-year in 2026, adding further pressure on prices.

The Indian rupee recovered part of its losses after touching a record low of 95.96 against the US dollar. It rebounded on expectations that the government may reduce taxes on foreign investment in bond allocations to support capital inflows, and finally closed at 95.77, down 6 paise for the day. The currency’s partial recovery provided some comfort to the broader market sentiment.

Nifty extended its recovery for a second straight session, surging 277 points to close at 23,689. A decisive breakout above 23,800 would strengthen the bullish setup and open the door for a move toward the next resistance near 24,100. The recent swing low of 23262 has emerged as immediate support and can be used as a stop-loss level for long positions.

Indian markets are likely to open flat on mixed market cues.

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