In a dramatic late-hour recovery, Indian stocks ended Monday’s trade on May 18 marginally in the green, with strong buying in tech stocks doing the heavy lifting, while pharma shares also supported the headline indices, offsetting weakness in financials, auto, and metal counters.
The ended the session with a marginal 0.03% gain at 23,649, while the BSE Sensex closed at 75,263, up 0.03% from the previous close.
The broader market, however, remained under pressure, with the Nifty Midcap 100 and Nifty Smallcap 100 falling 0.22% and 1.26%, respectively, underperforming the benchmark indices.
Meanwhile, the Indian rupee slipped to another record low, weakening to 96.39 against the US dollar and extending its streak of historic lows in recent sessions, as a stronger greenback and elevated crude oil prices continued to weigh on sentiment.
Sustained selling by overseas investors has further added to the currency’s woes, as foreign investors continue to pull money out of domestic equities amid concerns over an economic slowdown. According to NSDL data, FPIs have sold more than ₹2.16 lakh crore worth of Indian equities so far in 2026, exceeding the ₹1.66 lakh crore sold during the entire calendar year 2025.
Vinod Nair, Head of Research, Geojit Investments Limited, “The prolonged stalemate between the US and Iran continues to cast a shadow over near-term sentiment, yet the equity market managed to recover intraday losses and closed on a flat note, supported by value buying in IT and banking stocks.”
“A meaningful breakthrough in diplomatic negotiations with Iran—especially regarding uranium stockpiles and sanctions—remains critical for reducing volatility and enabling a decisive upward move in the market,” he further added.
Coforge, Gland Pharma are among top gainers
emerged as the top performer, surging 15.4% to ₹2,156 apiece as investors reacted positively to the company’s March quarter performance. The company reported a sharp 96.56% year-on-year jump in consolidated profit after tax at ₹366.67 crore.
The earnings-driven rally in extended further, with the stock gaining another 10.6% to ₹1,696 apiece, marking a fresh all-time high. Likewise, Vishal Mega Mart also ended higher by 2.22% at ₹121 following its March quarter earnings report.
Meanwhile, all constituents of the Nifty IT index closed with healthy gains, led by Coforge, which advanced 5.2% to ₹1,348 apiece.
It was followed by , Oracle Financial Services Software, Tech Mahindra, Mphasis, and Infosys, all of which gained between 2% and 5.2%.
Extending its winning streak for the fourth straight session, PB Fintech rallied another 3.5% to settle at a more-than-one-month high of ₹1,749 apiece.
Meanwhile, exchange stock BSE ended the session 3% higher at ₹4,120 apiece. Other stocks, including , Sai Life Sciences, EIH, Elgi Equipments, Hindustan Copper, Godrej Industries, Page Industries, Bharti Airtel and Voltas, also closed with gains of over 2%.
Amber Enterprises, KEC International among top laggards after results
Weaker-than-expected March quarter numbers dragged Jain Resource Recycling and India lower by 18% and 15.6%, respectively. Selling pressure in KEC International intensified further, with the stock plunging another 11% to ₹487.60 apiece following its Q4FY26 results.
Other EMS stocks such as Syrma SGS Technology and also declined sharply, falling 6% and 4.3%, respectively. Likewise, losses in Himadri Speciality Chemical extended for another session, with the stock falling 7.5% to ₹551.50 apiece.
Meanwhile, stocks including Gallantt Ispat, MapmyIndia, Afcons Infrastructure, Saregama India, HFCL, SJVN, Cochin Shipyard, TVS Motor Company and Zee Entertainment Enterprises all ended the session with losses of over 4%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.