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Market Commentary

Benchmark indices witnessed heightened volatility on 18 May, as the Nifty touched an intraday low of 23 ,317.10 during early trade . However, a strong recovery of more than 300 points from lower levels helped the index regain momentum and eventually close above the 23 ,600 mark despite rising crude oil prices, weakness in the Indian Rupee, and ongoing geopolitical uncertainties .

* At the close, the Sensex advanced 77.05 points or 0 .10% to settle at 75 ,315 .04 , while the Nifty gained 6.45 points or 0 .03 % to end at 23 ,649 .95 .

* Among the sectoral indices, Nifty IT emerged as the top outperformer, rallying 2.43 % amid strong buying interest in technology stocks . Pharma and Private Banking stocks also provided mild positive support to the benchmark indices .

* On the other hand, broader selling pressure persisted across several sectors, with Nifty Media, Auto, PSU Banks, and Consumer Durables ending as the major laggards of the session .

* Gift Nifty signals a flat opening for the Indian Market . Nifty spot in today's weekly expiry session is likely to trade in the range of 23 ,400 - 23 ,850

Global Updates

* Wall Street ended Monday’s session with a highly polarized performance . While a rebound in defensive blue chips pushed the Dow into positive territory, tech - heavy benchmarks and small - caps faced consistent liquidation as investors adjusted portfolios to rising sovereign rates .

* Geopolitical risk remains a primary driver for multi - asset strategies . While the tactical pause in "Project Freedom" military escorts holds for back - channel mediation, the active U.S . counter - blockade on Iranian logistics hubs keeps oil prices stubbornly high, with Brent holding fast around the $109 .65 level .

* Asia - Pacific markets opened broadly higher Tuesday as oil prices, while elevated, eased slightly following news that President Donald Trump was postponing a scheduled attack on Iran .

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