Markets held on to their morning gains through mid-session trade on Tuesday, May 19, with the Sensex and Nifty staying in the green as information technology stocks continued to power ahead, even as banking, cement and telecom counters weighed on broader sentiment.

At 12.20 pm, the BSE Sensex was trading at 75,640.32, up 325.28 points or 0.43 per cent. The NSE Nifty 50 was at 23,747.50, higher by 97.55 points or 0.41 per cent. Market breadth on the BSE remained positive, with 2,614 stocks advancing against 1,271 declines, while 201 remained unchanged. A total of 74 stocks hit fresh 52-week highs, against 24 touching 52-week lows. Of the 4,086 stocks traded on the BSE, 133 were locked in upper circuits and 128 in lower circuits.

The Nifty’s Advance Decline Ratio stood at 31:18, indicating that buying remained concentrated in select counters rather than being broad-based.

On the Nifty 50, Infosys was the top gainer, up 4.04 per cent to ₹1,188.60. Tech Mahindra surged 3.61 per cent to ₹1,481.60, while Tata Motors PV rose 3.30 per cent to ₹364.80. TCS gained 2.61 per cent to ₹2,342.90, and Eternal added 2.58 per cent to ₹247.62, extending the morning’s momentum into the afternoon session.

On the losing side, Coal India was the biggest drag, falling 1.43 per cent to ₹455.50. Kotak Mahindra Bank declined 1.38 per cent to ₹386.40, while UltraTech Cement slipped 1.33 per cent to ₹11,407. Bharti Airtel dropped 1.06 per cent to ₹1,917.50, and Tata Consumer Products was down 0.78 per cent to ₹1,221.40.

According to SBI Securities, the Nifty is now trading within a defined range, with the 23,600–23,620 zone acting as immediate support and resistance placed at 23,850–23,870. A slip below 23,600 could open the door to the next support band at 23,400–23,300, while a breakout above 23,870 may extend the rally toward 24,070. On the Sensex, support is pegged at 75,200 and resistance at 76,000.

On the options front, meaningful call writing has been seen at the 23,800 and 23,900 strikes, capping the upside, while the 23,700 put strike holds substantial open interest, followed by 23,600, suggesting that traders are positioning for the index to hold above these levels through the weekly expiry.

India VIX, which had climbed to 19.63 in the previous session, declined over 5 per cent during the day, reflecting a reduction in near-term fear. This fall in volatility gave markets room to consolidate morning gains rather than give them up, as had been feared heading into a weekly expiry session.

The recovery in sentiment was supported by easing geopolitical concerns after US President Donald Trump confirmed a delay in any potential military action against Iran. Brent crude, which was trading near $109 a barrel earlier in the morning, pulled back, offering relief to import-sensitive sectors. However, the rupee’s weakness near the ₹96 per US dollar mark continues to act as a ceiling on any sharp rally.

Institutional activity has been broadly supportive, with both FIIs and DIIs remaining net buyers in recent sessions, providing a floor to the market even as global uncertainty keeps conviction limited at higher levels. Key Q4 earnings results from BPCL, Bharat Electronics and Zydus Lifesciences, due later today, are also expected to add to stock-specific activity in the second half of the session.

Published on May 19, 2026