Nifty50 rises 6.45 points (0.03%) — India Market Digest 18 May 2026

Bullish momentum seems to be hitting a wall as indices ended nearly flat after a volatile session. Nifty50 closed at 23649.95 while Sensex touched 75315.04. Interestingly, despite the tight finish, the index recovered over 300 points from its intraday low of 23317.1, suggesting strong dip-buying interest near support levels even as the overall mood remains cautious.

Technology stocks led the charge today with TechM surging 4.34% and Infosys gaining 2.1% as investors bet on improving global demand. Kotak Bank also saw buying interest. Conversely, profit booking hit the power and banking heavyweights. PowerGrid dropped over 3% while State Bank of India fell 2.47%, dragging the PSU bank index lower. A clear rotation from value-heavy utilities to growth-oriented IT firms is currently underway.

Retail investors should avoid chasing the rally in IT stocks and instead watch the banking sector for stability. If SBI continues its slide, it could pull the broader market down further. Keep a close eye on Kotak Bank tomorrow to see if private lenders can offset the weakness in public sector giants. Stay patient and avoid heavy fresh positions.

Market Mood: Sideways

Stable crude oil prices and a steady rupee are providing a cushion against global volatility, though investors await the latest US inflation data for cues on interest rate movements.