Taking Stock | D-Street joins global rout; Sensex, Nifty slump over 2.5% but ITC gains

The Indian equity market extended the previous session's profit booking and witnessed a free-fall on May 19 on the back of weak global markets.

After a gap-down start, the benchmark indices remained in negative terrain throughout the session, finishing near the day's low point.

At close, the Sensex was down 1,416.30 points or 2.61% at 52,792.23, and the Nifty was down 430.90 points or 2.65% at 15,809.40.

BSE Sensex and Nifty50 indices touched lows of 52,669.51 and 15,775.20, intraday.

Investors lost Rs 6,58,257.76 crore, as market capitalisation of BSE listed companies fell to Rs 2,49,19,188.05 crore on May 19 from Rs 2,55,77,445.81 crore on May 18.

"The recent earnings reported by the US retailers reflected the heat of high retail inflation, resulting in the rout in Wall Street," says Vinod Nair, Head of Research at Geojit Financial Services.

"Persistent offloading by foreign investors along with mounting fears of an economic slowdown wreaked havoc in the domestic market."

"In this highly volatile market, investors can focus on sectors like FMCG, Pharma, Capital goods, and manufacturing whose valuations are moderate and reasonable on a long term basis," he added.

Index	Prices	Change	Change%
Sensex	85,265.32	158.51	+0.19%
Nifty 50	26,033.75	47.75	+0.18%
Nifty Bank	59,288.70	-59.55	-0.10%

Nifty 50 26,033.75 47.75 (0.18%)

Thu, Dec 04, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
TCS	3,229.20	49.20	+1.55%

Biggest Loser	Prices	Change	Change%
Interglobe Avi	5,436.50	-159.00	-2.84%

Best Sector	Prices	Change	Change%
Nifty IT	38360.30	535.00	+1.41%

Worst Sector	Prices	Change	Change%
Nifty Energy	34986.10	-118.90	-0.34%

Wipro, HCL Technologies, TCS, Tech Mahindra, and Infosys were among the top Nifty losers, while gainers included ITC, Dr Reddy's Laboratories, and Power Grid Corporation.

All the sectoral indices ended in the red with the Nifty Information Technology index falling 5.7 percent and the Metal index declining 4 percent.

Also Read - Markets melt as global selloff and central bank hawks scare investors

Stocks and sectors

On the BSE, the Information Technology index lost 5 percent, metal index fell 4.2 percent, while Auto, Bank, Healthcare, Oil & Gas, and Realty indices lost over 2 percent each.

The BSE midcap and smallcap indices lost over 2 percent each.

A long build-up was seen in PI Industries, Hindustan Aeronautics, and Abbott India, while a short build-up was witnessed in Manappuram Finance. L&T Technology Services and Lupin.

Mangalore Refinery & Petrochemicals, ITC, and Chennai Petroleum Corporation were among the stocks that touched their 52-week high on the BSE.

Among individual stocks, a volume spike of more than 200 percent was seen in Adani Ports and Special Economic Zone, Dr Reddy’s Laboratories, and Manappuram Finance.

Outlook for May 20

Rupak De, Senior Technical Analyst at LKP Securities:

Nifty fell towards the previous swing low on the back of a gap-down start. The trend has turned negative as the Nifty fell below 16,000.

The immediate support is seen at 15,671; below 15,671 further correction towards 15,400 looks possible. On the higher end, resistance is placed at 16,000.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

The rout in other Asian indices and European gauges triggered a massive sell-off in local equities as both Sensex & Nifty ended below their crucial psychological levels of 53k & 16k, respectively. Investors fretted over stagflation risks and Federal Reserve's more hawkish stance to rein in inflation by opting for more rate hikes, which would have a bigger impact on the economy going ahead. Till the time FIIs remain net sellers, the south-bound journey will be difficult to reverse.

In addition, post gap down opening, the Nifty has formed a bearish candle which indicates further weakness from the current levels.

Currently, the index is trading near the 15,700-15,750 support level, hence a quick pullback rally is not ruled out if the index succeeds to trade above 15,700.

For traders, as long as the index is trading below 15,900, the correction wave is likely to continue and below the same, it could retest the level of 15,700. On the further downside, the index could slip to 15,600. On the flip side, above 15,900, the Nifty could move up to 16,000-16,100.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.