Market Commentary Mid Session News Details

Sensex jumps 303 pts; media shares decline; VIX slumps 6.02%

(19-May-26   12:33)

The domestic equity benchmarks traded with decent gains in early afternoon trade, supported by upbeat global markets. Sentiment stayed positive as tensions in West Asia showed signs of cooling. Meanwhile, the rupee depreciated following another increase in fuel prices by the government.

The Nifty traded above the 23,700 level. Media shares extended losses for two consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 303.20 points or 0.40% to 75,628.46 The Nifty 50 index added 88.30 points or 0.37% to 23,738.25.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.13% and the BSE 250 SmallCap Index jumped 1.27%.

The market breadth was strong. On the BSE, 2,630 shares rose and 1,272 shares fell. A total of 213 shares were unchanged.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.2750 compared with its close of 96.2000 during the previous trading session. It also touched an all-time intraday low of 96.3850 in early trade.

In the commodities market, Brent crude for July 2026 settlement declined $1.75 or 1.56% to $110.35 a barrel.

Fuel Hike

Fuel prices were increased again on Tuesday, with petrol and diesel rates rising by up to 90 paise per liter across major cities, marking the second hike in less than a week. The latest revision follows a sharp Rs 3 per liter increase announced on Friday.

In Delhi, petrol prices rose by 87 paise to Rs 98.64 per litre from Rs 97.77, while diesel prices increased by 91 paise to Rs 91.58 per litre from Rs 90.67.

In Mumbai, petrol prices climbed 91 paise to Rs 107.59 per liter, while diesel rose 94 paise to Rs 94.08 per liter.

Kolkata recorded the sharpest increase in petrol prices, which surged 96 paise to Rs 109.70 per liter. Diesel prices in the city advanced 94 paise to Rs 96.07 per liter. In Chennai, petrol prices increased by 82 paise to Rs 104.49 per litre, while diesel prices moved up 86 paise to Rs 96.11 per litre.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 6.02% to 18.45. The Nifty 26 May 2026 futures were trading at 23,725, at a discount of 13.25 points as compared with the spot at 23,738.25.

The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 80.4 lakh contracts at the 25,000 strike price. Maximum put OI of 67 lakh contracts was seen at a 23,000 strike price.

Buzzing Index:

The Nifty Media index added 1.15% to 1,420.20. The index declined 2.24% in previous trading session.

Prime Focus (up 4.74%), Zee Entertainment Enterprises (up 3.46%), Tips Music (up 1.94%), Network 18 Media & Investments (up 1.78%) and Hathway Cable & Datacom (up 1.2%), Saregama India (up 0.78%), Sun TV Network (up 0.59%) added.

On the other hand, PVR Inox (down 0.58%), Nazara Technologies (down 0.55%) and D B Corp (down 0.53%) edged lower.

Stocks in Spotlight:

Indian Oil Corporation (IOCL) added 2.97% after the company's standalone net profit surged 56.61% to Rs 11,377.51 crore in Q4 FY26 compared with Rs 7,264.85 crore in Q4 FY25. Revenue from operations (excluding excise duty) rose 6.62% YoY to Rs 2,07,883.23 crore in Q4 FY26 as against Rs 1,94,967.02 crore reported in Q4 FY25.

Afcons Infrastructure declined 2.98% after the company reported a consolidated net loss of Rs 88.40 crore in Q4 FY26, compared with a net profit of Rs 110.93 crore in the corresponding quarter of the previous year. Revenue from operations fell 18.9% YoY to Rs 2,613.84 crore in the quarter ended 31 March 2026.

Astral fell 5.93% after the company reported an 18.79% year-on-year increase in consolidated net profit to Rs 213 crore for Q4 FY26, compared with Rs 179.3 crore in Q4 FY25. Revenue from operations rose 24.21% YoY to Rs 2,088.5 crore in the quarter ended 31 March 2026.

Powered by Capital Market - Live News