Closing Bell: Sensex down 200 pts, Nifty at 25,000; IT drags, realty, media shine

Indian equity indices ended on a negative note on May 16 with Nifty around 25,000. At close, the Sensex was down 200.15 points or 0.24 percent at 82,330.59, and the Nifty was down 42.30 points or 0.17 percent at 25,019.80.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

The market witnessed mild profit booking following a sharp rally in the previous session. Despite this, investor sentiment remained upbeat, with sustained momentum in mid- and small-cap stocks, as well as rate-sensitive sectors such as real estate, NBFCs, automobiles, and consumer durables. Defence stocks also continued their upward trajectory, supported by a strong sectoral outlook. Optimism is being fuelled by expectations of imminent resolutions in US-China and India-US trade relations, which are easing concerns over potential economic fallout.

Additionally, softening crude oil prices, moderating inflation, and growing anticipation of interest rate cuts are reinforcing confidence in the economic growth outlook, driving a broad-based market resurgence. Institutional flows remain robust, with both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) contributing to market stability and resilience.

Global equities extended the relief rally this week amid ramp-down of US tariffs post trade deal between US and UK/China. Indian markets saw a strong rally this week and was among the major gainers, as the domestic markets also priced in a ramp-down in geopolitical risks. The Nifty-50 and the Sensex-30 index saw weekly gains of ~4%. Overall market breath was strong with BSE Midcap and the BSE Smallcap indices significantly outperforming the larger peers. On the sectoral front, all the key indices ended the week in the green with multiple indices closing with weekly gains in excess of 5%. So far, aggregate earnings growth of the Nifty-50 Index stood at 7.5% yoy in Q4FY25.

India’s CPI inflation decelerated further to 3.2% in April 2025 with continued moderation in food prices. With a benign outlook for inflation, we expect rate cut of another 75-100 bps by the end of FY26. Low crude oil price, expected good monsoon, RBI rate cut and lower inflation are some of the positive macro factors for the Indian economy. The increase in FII inflows demonstrates positive sentiment for India, possibly reflecting conviction among investors that India is a relatively better market, in the light of global growth challenges.

Markets traded lackluster after Thursday’s surge and ended marginally lower, in the absence of any fresh triggers. The tone remained subdued from the outset, with consolidation in heavyweight stocks across sectors capping the move throughout the session. As a result, the Nifty index settled at 25,019.80, down by 0.17%.

On the sectoral front, a mixed trend kept participants engaged. Realty, energy, and auto sectors edged higher, while IT witnessed some profit-taking, declining by nearly a percent. The broader indices outperformed amid mixed cues, with themes like defense and railways continuing to attract notable buying interest.

More than the recovery in the benchmark index, the broad-based rebound has offered greater relief to market participants. Sustained FII inflows and stable global markets are further contributing to the positive sentiment. We continue to maintain our bullish outlook and recommend focusing on selective stock-picking. Going forward, corporate earnings and global market trends will remain key factors to watch in the absence of any major events.

Markets languished in negative territory throughout the trading session and ended weak due to selective profit-taking in IT, banking and metal shares. However, broader indices like mid & small-cap indices coupled with most sectoral stocks ending in positive territory shows that investors are cautiously optimistic on equities, despite global uncertainties.

After witnessing a sharp upmove from the lows on Thursday, the market has taken a breather on Friday and closed lower by 42 points amidst a range bound movement. After opening with a flat note, the market shifted into a narrow range movement that lasted for the whole session.

A small red candle was formed on the daily chart on Friday after a long bull candle Thursday. This market action signals a breather type pattern in the market after a stellar rally. This market action is expected to be an uptrend continuation pattern.

The underlying trend of Nifty continues to be positive. The next overhead resistances to be watched around 25250 and 25500 levels for the coming weeks. Any dips from here could find support around 24800 levels.

The Nifty remained in consolidation mode today, taking a breather after Thursday's rally. Overall sentiment continues to stay firm, with sectoral themes playing out. Indicators and overlays are consistently pointing towards further strength in the short term.

Any dips are likely to be bought into, with support placed at 25,000/24,800. On the higher side, a move above 25,120 could take the index towards 25,250/25,350.

#1 Nifty & Sensex up 4% each

#2 Broader markets see big buying this week

#3 Midcap index records biggest weekly gain in last 2 months, up 7%

Indian rupee ended marginally higher at 85.51 per dollar on Friday versus Thursday's close of 85.54.

Indian equity indices ended on a negative note on May 16 with Nifty around 25,000.

At close, the Sensex was down 200.15 points or 0.24 percent at 82,330.59, and the Nifty was down 42.30 points or 0.17 percent at 25,019.80. About 2525 shares advanced, 1312 shares declined, and 134 shares unchanged.

Broader indices outperformed the main indices with BSE Midcap index rising 0.8 percent and smallcap index added 1 percent.

Among sectors, media, power, PSU, realty, capital goods indices up 1-1.7 percent, while IT index down nearly 1 percent.

Bharat Electronics, Bajaj Auto, Adani Enterprises, Tata Consumer, Eternal were among major gainers on the Nifty, while losers were Bharti Airtel, JSW Steel, Infosys, SBI, HCL Technologies.

#1 Q4FY25 results operationally in-line with the estimates

#2 Company projects higher EBITDA margin in FY26

#3 Tolvaptan & Mirabegron to boost US sales in FY26

#4 Timely launch of complex generics key to sustain US sales growth

#5 Build-up of complex generics pipeline in the US remains critical

Indian Rupee declined today on weak domestic markets and FII outflows. Importer demand for Dollars too weighed on the domestic unit. However, a soft US Dollar and weakness in crude oil prices cushioned the downside. US Dollar weakened amid disappointing economic data from the US.

We expect Rupee to trade with a positive bias amid weakness in US Dollar index and declining crude oil prices. Rise in risk appetite in global markets may also support the Rupee.

However, FII outflows may cap sharp upside. Traders may take cues from housing and UoM consumer sentiment data from the US. USDINR spot price is expected to trade in a range of Rs 85.30 to Rs 85.90.

#1 Striving for growth across multiple fronts

#2 Q4 EBITDA ahead of consensus; focus on new launches

#3 New categories to drive growth momentum

#4 Maintain EBITDA margin at 11.9-12.2 percent for FY26-27, as expect stronger growth push

#1 Growth recovery remains sub-par

#2 Q4 below estimates; risks to growth recovery from weak CV/exports demand

#3 Commodity tailwinds largely factored in

While the overall export trend draws a modest picture, the stellar increase in export of natural produce, marine products and meat, dairy and poultry products underline the resilience and dominance of the Indian agrarian economy. The widening trade deficit and uneven performance point towards a need for a robust supply chain backed by export incentives.

As the world absorbs jitters for Trump Tariff and the volatility of geopolitical tensions, India has a golden opportunity to this challenge into an opportunity by capitalizing on its high-performing sectors, foster bilateral trade agreements and most importantly, empower the domestic players with data-driven processes allowing swift clearances, which will not just boost export but also strengthen India in its goal towards a self-reliant economy.

A more robust implementation of PLI and NAP schemes can help drive down production costs further to enable Indian exports to be more competitive, even for manufactured goods.

The Sensex was down 170.04 points or 0.21 percent at 82,360.70, and the Nifty was down 37.65 points or 0.15 percent at 25,024.45. About 2238 shares advanced, 1257 shares declined, and 115 shares unchanged.

#1 Rs 675 crore wrongly recorded as interest income in 9MFY25

#2 Follows a prior Rs 2,100 derivative portfolio loss

#3 FY26–27 earnings may be cut 15–20 percent

Indian rupee is trading 9 paise lower at 85.65 per dollar against previous close of 85.54.

#1 Management aims to achieve high-single-digit volume growth in FY26

#2 GM improvement in Q4 reflected stability in RM prices & production efficiencies

#3 Management maintained its EBITDA margin guidance of 19-21 percent

#4 Higher investments in marketing & tech are expected

#5 E-commerce growth was 41 percent in FY25, with overall salience at over 10 percent

#6 EBITDA margin across channels are similar

# Net Profit At Rs 504 Cr

# Revenue At Rs 8,993.4 Cr

# EBITDA At Rs 831 Cr

# Margin At 9.25%

# Net Profit (GU)8.7% At Rs 162 Cr Vs Rs 149 Cr (YoY)

# Revenue (GU)8.1% At Rs 963 Cr Vs `891 Cr (YoY)

# EBITDA (GU)4.1% At Rs 219.4 Cr Vs Rs 210.7 Cr (YoY)

# Margin At 22.8% Vs 23.7% (YoY)

Trading volume doubles

CNBC-TV18 Exclusive: Sources Say that

# Vodafone Idea Cautioned Govt, Without Its Support Company Can’t Operate Beyond FY26

# Without Govt Support, It Will Have To Go To NCLT For Insolvency

# In Case Of No Support, Govt Stake’s Value Will Go To Nil

# Govt Will Have No Recovery On Rs 1.18 Lakh Crore Of Spectrum Dues Without

# Voda Idea Claimed No Support From Banks Despite Rs 26,000 Crore Equity Infusion, Govt’s Equity Conversion

# If Voda Idea Goes To NCLT, Over 20 Crore Subscribers To Be Impacted

Trading volume triples

The Sensex was down 198.95 points or 0.24 percent at 82,331.79, and the Nifty was down 46.75 points or 0.19 percent at 25,015.35. About 2270 shares advanced, 1212 shares declined, and 110 shares unchanged.

#1 Q4FY25 revenue and margin above estimates

#2 ACV continues to be strong; sales effectiveness visible in robust pipeline

#3 EBITDA margin band unchanged

#4 Raise FY27 EPS by 2.4 percent

#1 NII beat of 6 percent was led by NIM expansion

#2 Loan book growth of 7 percent YoY was in-line

#3Total income beat was 10 percent owing to higher other income

#4 PPoP, operating costs were higher than estimates

#5 Credit costs in-line with the estimates

#6 Stock is cheap & could do well in the near term

#7 Unlikely to sustain given structurally weakening franchise & weak FY26 NIM & PPOP outlook

Infosys, the digital services and consulting firm, announced an expansion of its strategic collaboration with DNB Bank ASA, Norway’s largest bank, to accelerate the bank’s digital transformation. The collaboration will leverage Infosys’ services, solutions, and platforms to support IT modernization, improve resilience, and deliver an enhanced customer experience.

#1 Profit sinks 61.7% to Rs 44.6 crore Vs Rs 116.2 crore, YoY

#2 Revenue falls 0.1% to Rs 613.6 crore Vs Rs 614.4 crore, YoY

#3 Board approves further investment up to Rs 15 crore in subsidiary Bikaji Foods Retail

#4 Board approves investment up to Rs 20 crore in Jai Barbareek Dev Snacks via 2 crore optionally convertible debentures

#5 Board approves divestment of entire 51% stake in Bikaji Mega Food Park

Indian rupee is trading 10 paise lower at 85.64 per dollar against previous close of 85.54.

The board of directors of the company at its meeting today i.e. May 16, 2025, has approved the revised expansion plan of 600 TPD.

The expansion is being undertaken through setting up two furnaces of 300 TPD each (SG-4 and SG-5) at an estimated cost of Rs. 950 crores approximately.

Waaree Renewable has been awarded Letter of Award (LOA) for the execution of engineering, procurement and construction (EPC) works of solar power project including operation and maintenance (O&M) of 94 MW AC/131.6 MW DC capacity. This project will be executed under Mukhyamantri Saur Krushi Vahini Yojana-2.0 (MSKVY 2.0).

Divis Laboratories, Amber Enterprises India, Arvind Fashions, Data Patterns (India), Gujarat Ambuja Exports, Happy Forgings, Mangalam Drugs & Organics, Neogen Chemicals, Premier Energies, TVS Electronics, Uflex, and ZEN Technologies will announce their March quarter earnings on May 17.

Hyundai Motor India, Delhivery, Emami, BHEL, CreditAccess Grameen, ESAF Small Finance Bank, Gujarat Alkalies and Chemicals, Heritage Foods, Jubilant Pharmova, Kalpataru Projects International, Matrimony.com, Nucleus Software Exports, Shipping Corporation of India, Shankara Building Products, S H Kelkar and Company, Texmaco Infrastructure & Holdings, and Texmaco Rail & Engineering will release their quarterly earnings scorecard on May 16.

#1 Profit stands at Rs 183 crore Vs loss of Rs 311.8 crore, YoY

#2 Revenue jumps 26.5% to Rs 5,779.7 crore Vs Rs 4,567.3 crore, YoY

#1 Profit soars 16.6% to Rs 245.1 crore Vs Rs 210.2 crore, YoY

#2 Revenue rises 10.4% to Rs 2,963.5 crore Vs Rs 2,684.8 crore, YoY

#3 Board recommends dividend of Rs 10 per equity share for FY25

The board of directors of Adani Green on May 16, 2025 considered and approved the allotment of 54,55,584 equity shares of the company with a face value of

Rs 10 each, at a premium of Rs 1,470.75 per share, pursuant to the exercise and conversion of 54,55,584 convertible warrants against receipt of the balance subscription amount of Rs 1,110.56 per warrant (i.e. 75% of the issue price), to Ardour.

The Sensex was down 288.99 points or 0.35 percent at 82,241.75, and the Nifty was down 73.15 points or 0.29 percent at 24,988.95. About 2205 shares advanced, 1225 shares declined, and 121 shares unchanged.

Gold prices have corrected in the recent weeks from an all-time highs of $3500 in the international markets while MCX Gold prices have corrected from all-time highs of Rs 100,000/10 gms mark.

The Current market price of gold in the international markets as on 16th May 2025 stands at $3219/ounce while on the MCX gold price stands at Rs 93300/10 gms.

Ease in geo-political tensions between India-Pakistan, Russia-Ukraine, and ease of tariff situation between US-China, shifting inflation expectations in the US, along with are all combination of factors driving gold prices correction in the recent weeks.

The recent correction in gold prices have given investors an avenue to buy at lower levels, hence, our advise to investors is to accumulate on dips at around 90,000/10gm mark. The upside potential for gold prices can be around Rs 97000/10 gms mark from a fortnight perspective.

Gold prices have corrected in the recent weeks from an all-time highs of $3500 in the international markets while MCX Gold prices have corrected from all-time highs of Rs 100,000/10 gms mark.

The Current market price of gold in the international markets as on 16th May 2025 stands at $3219/ounce while on the MCX gold price stands at Rs 93300/10 gms.

Ease in geo-political tensions between India-Pakistan, Russia-Ukraine, and ease of tariff situation between US-China, shifting inflation expectations in the US, along with are all combination of factors driving gold prices correction in the recent weeks.

The recent correction in gold prices have given investors an avenue to buy at lower levels, hence, our advise to investors is to accumulate on dips at around 90,000/10gm mark. The upside potential for gold prices can be around Rs 97000/10 gms mark from a fortnight perspective.

HCLTech has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Guwahati to offer employees enrolled in the company’s early-career development program—TechBee— a pathway to advanced education in Artificial Intelligence (AI) and related technologies.

LTIMindtree has announced the opening of its Digital Innovation Hub at the Research and Innovation Hub of CYENS Center of Excellence.

The LTIMindtree Digital Innovation Hub will enable ideation, cocreation and implementation of Advanced Digital Solutions for Eurobank, Fairfax and other EU customers and aligns with the strategic vision of the Cyprus Government to strengthen Cyprus’ role as a regional tech and innovation hub,

triggering unique cross-border opportunities for tech collaborations.

Hyundai Motor India, Delhivery, Emami, BHEL, CreditAccess Grameen, ESAF Small Finance Bank, Gujarat Alkalies and Chemicals, Heritage Foods, Jubilant Pharmova, Kalpataru Projects International, Matrimony.com, Nucleus Software Exports, Shipping Corporation of India, Shankara Building Products, S H Kelkar and Company, Texmaco Infrastructure & Holdings, and Texmaco Rail & Engineering will release their quarterly earnings scorecard on May 16.

#1 Audit finds Rs 674 crore overstated as interest income; to be reversed in Q4FY25

#2 Balancesheet inflated: Rs 600 crore in ‘other assets/liabilities’

#3 Adjusted NIM 17 bps lower than reported

#4 FY25 PAT cut by 22 percent; FY26–27 PAT estimates down 13–17 percent

Ajay Kumar, Chairman and Independent Director, has resigned from the Board of Directors of the company, with effect from 15 May, 2025.

#1 Profit zooms 30% to Rs 279.6 crore Vs Rs 215.1 crore, YoY

#2 Revenue spikes 79.8% to Rs 1,573.4 crore Vs Rs 875.3 crore, YoY

#3 Board announces final dividend of Rs 60 per share

#1 Profit jumps 12.7% to Rs 229.1 crore Vs Rs 203.4 crore, YoY

#2 Revenue increases 4.8% to Rs 1,503.7 crore Vs Rs 1,434.3 crore, YoY

#1 Profit grows 73.8% to Rs 358.5 crore Vs Rs 206.3 crore, YoY

#2 Revenue soars 17.8% to Rs 9,692.2 crore Vs Rs 8,227.6 crore, YoY

#3 Board recommends dividend of Rs 2 per share

The company has received a Letter of Award from Central Railway for a project worth Rs 115.8 crore. The project involves OHE (Overhead Equipment) modification work for the upgradation of the existing 1x25 KV electric traction system to 2x25 KV feeding system in the Itarsi–Amla Section of the Nagpur Division of Central Railway, in order to meet the 3,000 MT loading target.

State Bank of India

Advanced Enzyme Technologies

Authum Investment & Infrastructure

Alicon Castalloy

Aptech

Aptus Value Housing Finance India

Fabtech Technologies Cleanrooms

Indian Energy Exchange

Kewal Kiran Clothing

Narmada Macplast Drip Irrigation System

#1 Weak Q4; PAT down 4 percent YoY due to poor merchant pricing & low wind season

#2 Thermal EBITDA down 9 percent YoY; EBITDA/kWh fell 48 percent due to ASP Drop

#3 Stock trades at 23x FY26 PE; valuation seen as stretched despite transition

Block deals have exceeded $1.6 billion, the biggest amount since late August, according to provisional data combined by BBG

# Nine Quarters Of Single-digit Growth Have Been Disappointing

# AUM Growth Is Expected To Be In The Range Of 10–12% In FY26

# FY26 Is Expected To See Double-digit Growth In Both Loans & Disbursals

# Expect NIM To Remain Volatile In FY26

# Optimistic About Loan Growth In FY26

# 55% Of Our Borrowings Are At A Fixed Cost, While 45% Are Linked To The Repo Rate

# Will Maintain NIM Between 2.6-2.8% In FY26

# Targeting 2.2% Gross NPA Ratio By FY26

" Book profits at the current market price of Rs 4,975/share, thereby registering a gain of 10% from our recommendation price."

Rated 'BUY' at a target price of Rs 543

"We estimate company to report FY25-30 CAGR of 25%/ 34%/ 27% in Revenue/EBITDA/ PAT subject to risks emanating from bundling of complex and capex-heavy infra projects within a short timeframe of 5 years. We maintain our BUY rating on the stock, with a SOTP-based target price of Rs 543 on FY27 earnings (Current market price is Rs 487) implying 13x EV/EBITDA and2.5x P/B on FY27."

Rated 'BUY' with Target Price Rs 3,150

FY26/FY27 estimates: Revenue at -7%/-8%; EBITDA at -5%/-5%; PAT at -5%/-4%

The insolvency court in Ahmedabad has issued a notice to Gensol Engineering after agreeing to hear Indian Renewable Energy Development Agency's petition.

# UnitedHealth Is Going Through Headwinds

# UnitedHealth Is One Of The Largest Healthcare Insurers In The World

# Relationship With UnitedHealth  Is Via Co's Subsidiary

# No Existential Crisis Due To UnitedHealth Issues

# Company Should Be Ok From A UnitedHealth Perspective

# UnitedHealth Is Among The Top 5 Client For Us

# US Is Trying To Achieve Reduction In Healthcare Costs

# Have Maintained Guidance Of Outperforming Market In The Long Run

# Addressable Market Is Of $225 Bn & Is Expanding YoY

# Margin Will Stabilise Somewhere  In The Mid 30's

# Clients Commit To A Large Contract, But Ramp-up Happens Over A Period Of Time

The Sensex was down 238.06 points or 0.29 percent at 82,292.68, and the Nifty was down 61.95 points or 0.25 percent at 25,000.15. About 2170 shares advanced, 1145 shares declined, and 123 shares unchanged.