Markets opened in the green on Tuesday, May 19, with the Sensex and Nifty rising on the back of a sharp rally in information technology stocks and easing geopolitical concerns after US President Donald Trump said he had called off a planned military strike on Iran.

The BSE Sensex, which closed at 75,315.04 on Monday, opened at 75,441.27 and was trading at 75,632.72, up 317.68 points or 0.42 per cent, as of 9.19 am. The NSE Nifty 50, which had a previous close of 23,649.90, opened at 75,441.27 and was trading at 23,732.25, up 82.30 points or 0.35 per cent at the same time.

IT stocks dominated the gainers list on the Nifty 50. Infosys led the pack, rising 3.92 per cent to ₹1,187.30. HCL Technologies gained 2.94 per cent to ₹1,180.30, while Tech Mahindra was up 2.89 per cent to ₹1,471.30. TCS rose 2.49 per cent to ₹2,340.00, and Wipro added 2.10 per cent to trade at ₹196.20. In Monday's session, the Nifty IT index had already gained 2.70 per cent, making it the top-performing sector.

..."For day traders, 23,500 will act as a trend-decider level. As long as the market trades above this, the pullback formation is likely to continue. On the upside, this pullback could continue towards 23,800–23,900," said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

On the losing side, metals and energy stocks were under pressure. Hindalco fell 0.81 per cent to ₹1,044.60, while ONGC declined 0.79 per cent to ₹294.85. Eternal dropped 0.70 per cent to ₹239.71, Titan slipped 0.66 per cent to ₹4,142.20, and Coal India was down 0.63 per cent to ₹459.20.

The relief in markets came after Trump stated that a potential US military strike on Iran was being delayed following requests from Gulf nations, including Saudi Arabia and the UAE. Brent crude futures fell 2.05 per cent to $109.80 per barrel, while WTI crude dropped 1.61 per cent to $102.70 a barrel as of 9:06 am. On the MCX, June crude oil futures were trading at ₹9,922, marginally lower than the previous close of ₹9,924.

..."Elevated crude oil prices and volatility levels continue to keep sentiment cautious. If there is a quick resolution of the Hormuz crisis, the economy may recover fast and the slowdown expected this year will not be as severe as feared," said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.

The Indian rupee remains a key concern for markets. The currency has slipped near the ₹96 per US dollar mark, pressured by high crude oil import costs and global uncertainty. Analysts warned that sustained weakness in the rupee could weigh on corporate profitability, particularly for import-heavy sectors.

..."The rupee sliding toward record lows amid rising oil prices and global bond yields remains a key risk. India has said it will continue buying Russian oil regardless of US sanctions waivers," noted a morning markets brief from Reuters.

India VIX, the market's volatility gauge, climbed 4.47 per cent to 19.63 in the previous session, remaining above all key moving averages. ..."A move above the 20 mark could increase downside risks, while stability below 18 would be supportive for bullish sentiment," said Aakash Shah, Technical Research Analyst at Choice Equity Broking.

On the institutional flows front, both Foreign Institutional Investors and Domestic Institutional Investors remained net buyers in the previous session. ..."FIIs turning buyers, though not a trend yet, is an indication that valuations are becoming attractive in India. If this becomes a trend, largecaps in financials, particularly leading banks, will be the segment to move up," said Vijayakumar.

The banking index, Bank Nifty, recovered from sharp intraday weakness in the previous session but still closed 0.30 per cent lower. It is currently hovering near the 53,450–53,550 zone, with immediate resistance at 53,700.

Q4 earnings results are also in focus, with BPCL, Bharat Electronics and Zydus Lifesciences scheduled to report today. ..."Q4 results have been good, in many cases better than expected. This is an indication that the economy had started to recover in response to fiscal and monetary stimulus measures," Vijayakumar added.

Globally, the Dow Jones rose 0.32 per cent overnight while the Nasdaq slipped 0.51 per cent. Asian markets opened broadly higher. Gold was trading at $4,565 per ounce, silver at $77.50, and copper around $6.25 per pound, reflecting a still-tense commodity backdrop.

..."Nifty continues to trade near an important zone where both buyers and sellers are active, making today's price action crucial for short-term direction. Traders should avoid aggressive positions at the open and focus on confirmation near support and resistance levels," said Gaurav Udani, Founder of Thincredblu Securities.

Published on May 19, 2026