Sensex, Nifty Hold Firm at Midday as IT Stocks Surge; Iran De-escalation Lifts Sentiment

Mumbai, May 19: Domestic equity markets maintained strong gains through the midday session on Tuesday, with benchmark indices holding firmly in positive territory as investor confidence drew sustained support from U.S. President Donald Trump’s decision to pause a planned military strike on Iran and signal a genuine chance of a nuclear deal.

As of late morning, the BSE Sensex was trading at 75,679.59, up 364.55 points or 0.48% from its previous close, while the NSE Nifty 50 stood at 23,754.45 at 11.59 am, gaining 104.50 points or 0.44%, with both indices largely holding the gains registered at the opening bell and showing no sign of fatigue heading into the afternoon session.

Gainers & Losers

Among the top gainers on the Nifty 50 at midday, Infosys (INFY) led the pack with a gain of 3.87%, rising from its previous close of ₹1,142.50 to trade at ₹1,186.70. Tech Mahindra (TECHM) advanced 3.59%, climbing from ₹1,430.00 to ₹1,481.30. TCS gained 2.84%, moving from ₹2,283.20 to ₹2,348.00. HCL Technologies (HCLTECH) rose 2.69% from ₹1,146.60 to ₹1,177.50, and Mahindra & Mahindra (M&M) added 2.11%, advancing from ₹3,083.70 to ₹3,148.90.

On the losing side, Coal India (COALINDIA) was the steepest decliner, falling 1.41% from ₹462.10 to ₹455.60. Kotak Mahindra Bank (KOTAKBANK) slipped 1.33% from ₹391.80 to ₹386.60. UltraTech Cement (ULTRACEMCO) shed 1.18% from ₹11,561.00 to ₹11,425.00. Bharti Airtel (BHARTIARTL) declined 1.08% from ₹1,938.10 to ₹1,917.20, and Tata Consumer Products (TATACONSUM) fell 1.02% from ₹1,231.00 to ₹1,218.40.

Broader & Sectoral Markets

Broader markets meaningfully outpaced the large-cap benchmarks in morning trade, with the Nifty Midcap Select surging 1.54%, the Nifty Midcap 50 gaining 1.43%, and the Nifty Midcap 100 advancing 1.36%, reflecting confident buying beyond frontline names. On the sectoral front, Nifty IT was the undisputed leader with a 3.59% advance, followed by Nifty Midsmall IT & Telecom up 3.14%, Nifty Realty gaining 2.24%, and Nifty Chemicals rising 1.83%, making it a particularly strong morning for technology and interest rate-sensitive sectors.

Middle East Conflict

The geopolitical backdrop turned meaningfully more constructive overnight as Trump announced he had instructed the U.S. military to stand down from a scheduled attack on Iran after Tehran conveyed a peace proposal to Washington through Pakistan, with the president saying there was a “very good chance” of reaching a deal to prevent Iran from obtaining a nuclear weapon. Gulf leaders from Qatar, Saudi Arabia and the UAE played a key role in urging the pause, raising hopes that the months-long conflict threatening the Strait of Hormuz could be moving toward resolution. Markets are now watching closely whether the diplomatic momentum translates into a formal framework, with analysts noting that even a sustained pause in hostilities would significantly ease the supply chain and inflation risks that have weighed on emerging markets.

Oil Prices Dip

Oil prices reflected the improved mood sharply, with Brent crude for July delivery falling $3.01 or 2.7% to $109.09 a barrel in early Asian trade, while the active WTI July contract dropped $2.06 or 2% to $102.32 per barrel. The retreat from multi-week highs directly eased the imported inflation pressure that had been the dominant macro concern for India, providing relief to the rupee and supporting the case for rate-sensitive sectors. Analysts cautioned that fundamental supply risks persisted, but acknowledged that even a temporary de-escalation meaningfully reduced the near-term downside scenario for oil-importing economies.

Asian Markets

Asian markets traded mixed on Tuesday, with Australia’s S&P ASX All Ordinaries rising 1.08% and Hong Kong’s Hang Seng gaining 0.36%, while Japan’s Nikkei 225 slipped 0.44% and Indonesia’s Jakarta Composite fell 1.85%. Shanghai’s composite bucked the regional caution to gain 0.44%, while Malaysia and Pakistan remained under pressure, down 0.67% and 2.29% respectively.

Morning Session

Indian markets had opened on a firmly positive note on Tuesday morning, with the Sensex gapping up nearly 364 points and the Nifty breaching the 23,700 mark in the opening minutes as IT stocks surged across the board on easing geopolitical anxiety. The strong start marked a decisive break from Monday’s volatile, range-bound session where both indices had closed nearly flat after wild intraday swings. India VIX, which had surged nearly 4.5% on Monday, showed early signs of cooling as confidence returned to Dalal Street.

Source:

bseindia.com

https://www.nseindia.com/market-data/top-gainers-losers

https://www.nseindia.com/market-data/live-market-indices