More Stories

Informist, Friday, May 15, 2026

By Arundathi A R

MUMBAI – After clocking over 1% gains in the previous session, headline equity indices are likely to extend gains Friday and open slightly higher, as suggested by levels in the Gift Nifty May futures contract. However, Asian market indices were down in early trade. The US-China summit was the major event tracked by investors for a further clarity on a peace deal in West Asia. Crude oil prices remain as a major trigger that could alter the market direction ahead.

US President Donald Trump and China's President Xi Jinping have agreed that Iran must never obtain nuclear weapons, The Sunday Guardian reported. The agreement highlighted concerns over escalating tensions in West Asia and uncertainty about the region's security, the report said.

Trump and Xi Jinping discussed the Strait of Hormuz opening, with the Chinese leader agreeing that the waterway "must remain open to support the free flow of energy," Al Jazeera reported, citing the White House officials. Vessels, including Chinese-owned ones, had passed through the Strait of Hormuz under Iran's "management protocols," Al Jazeera report said, quoting the Revolutionary Guard.

Abbas Araghchi, Iran's foreign minister called on fellow BRICS nations to condemn the US-Israel war on his country as a violation of international law, adding that Iranians will "never bow to any pressure," according to Al Jazeera's report. He has denounced the US and Israel for "expansionism and warmongering", saying instability in West Asia is a "lose-lose proposition for all sides – including the aggressors."

At 0736 IST, the Brent crude oil July futures contract was almost 1% higher at $106.74 a barrel. "If the crude is going to fall to $90 per barrel or below that, the market will react positively," said Sanjeev Hota, head of equities strategy at Sharekhan. "If the crude is going to be above $120 or $125 a barrel mark, then the market will fall," he said, adding the market would be volatile if the crude is going to stay at the current state.

Friday, Indian Oil Corp. hiked petrol and diesel prices by INR 3 per litre in New Delhi amid the energy crisis due to the West Asia war. The price of petrol saw a hike of INR 3 per litre to INR 97.77 per litre. Diesel prices got hiked to INR 90.67 per litre from INR 87.67 per litre earlier, as per the data from IOC.

"The market has partially priced in the post-war normalcy, but now faces the near-term consequences of crude persisting at $100-$110," Emkay Global Financial Services said in its strategy report. It expects possible defensive policy measures to protect financial stability. The brokerage believed retail price hikes in petrol and diesel are imminent and pegged under under-recoveries at around INR 17–INR 18 per litre at current crude levels.

At 0759 IST, the May futures contract of the Gift Nifty was nearly 1% lower from its previous close at 23687.50. This was short of just two points from the Nifty 50's previous close of 23689.60. Analysts expect the Nifty 50 to face resistance at 23800 levels and find support at 23580-23500. "The pullback rally that started on May 13, 2026, has almost reached the price resistance of 23800 spot levels," Vipin Kumar, derivatives and technical analyst at Globe Capital Market, said. "For a sustainable move beyond 23800 spot levels, Nifty needs to decisively close above this level. Conversely, sustained trading below 23580 spot levels could drag it towards 23200–23150 spot levels in the near term," he said.

Foreign institutional investors Thursday turned net buyers. They net bought shares worth INR 1.87 billion. Domestic investors continued with their buying and net acquired shares of INR 6.84 billion. Thursday, a Bloomberg report said India was planning a significant reduction in taxes paid by foreign investors on Indian bond investments to facilitate foreign inflows and align policies with global norms. The recommendation was made by the Reserve Bank of India to curb the depreciation of the rupee against the dollar, which was seriously considered by the Ministry of Finance, the report said, citing sources.

Market participants will watch for the March quarter corporate results of Power Grid Corp. of India, Tata Steel, and State Bank of India, due later in the day. Power Grid is expected to report a net profit of over INR 44 billion for the March quarter, up over 2% on year. Its top line for the quarter is seen at over INR 128 billion, which would mean a growth of 16.63% on year. The statistics ministry will release unemployment data for April on Friday, as per the Periodic Labour Force Survey.

Focus will also be on the shares of Adani Group companies Adani Enterprises, Adani Ports, Adani Green Energy, Adani Energy Solutions, and Adani Power, after multiple reports suggested that the US authorities are moving to resolve the fraud charges against Gautam Adani and end a criminal case, according to a report by CNBC-TV18. Adani Enterprises ended Thursday's session nearly 9% higher and Adani Ports And Special Economic Zone was over 2% higher. Adani Green Energy, Adani Energy Solutions, and Adani Power settled 0.1-5.0% higher.

In the global equity market, all Asian indices were lower, with Indonesia's IDX Composite falling 2%. The Nikkei 225 index was down over 1% in early trade. In the US market, all three major indices settled nearly 1% higher each Thursday.  End

US$1 = INR 95.7625

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Akul Nishant Ahoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.