Going ahead, investors will closely monitor upcoming Q4 earnings reports, movement in crude oil and gold prices, and the US stance on the West Asia conflict.

In the week ended on Friday, 15 May 2026, the S&P BSE Sensex tumbled 2,090.20 points or 2.70% to settle at 75,237.99. The Nifty 50 index plunged 532.65 points or 2.20% to settle at 23,643.50. The BSE 150 Mid-Cap index declined 2.65% to close at 16,197.10. The BSE 250 Small-Cap dropped 3.81% to end at 6,685.19.

Weekly Index Movement:

The headline equity indices tumbled sharply on Monday, extending losses for a third consecutive session. Investor sentiment weakened after U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal, fuelling fears of a prolonged and destabilising conflict in the Persian Gulf. The S&P BSE Sensex, tanked 1,312.91 points or 1.70% to 76,015.28. The Nifty 50 index fell 360.30 points or 1.49% to 23,815.85. In three consecutive trading sessions, the Sensex tanked 2.5%, while the Nifty 50 fell 2.1%.

The domestic equity indices ended with steep losses on Tuesday, extending their losing streak to a fourth consecutive session amid mounting global uncertainty. Investor sentiment remained fragile due to rising crude oil prices, record rupee weakness, sustained foreign fund outflows and renewed concerns over the fragile U.S.-Iran ceasefire. The S&P BSE Sensex tanked 1,456.04 points or 1.92% to 74,559.24. The Nifty 50 index fell 436.30 points or 1.83% to 23,379.55. In the four consecutive trading sessions, the Sensex tanked 2.5%, while the Nifty 50 fell 2.1%.

Domestic equity benchmarks Sensex and Nifty snapped a four-session losing streak to close higher on Wednesday, aided by value buying in beaten-down stocks. The S&P BSE Sensex advanced 49.74 points or 0.07% to 74,608.98. The Nifty 50 index added 33.05 points or 0.14% to 23,412.60. In the past four consecutive trading sessions, the Sensex declined 4.43%, while the Nifty 50 fell 3.96%.

The headline equity indices ended with strong gains on Thursday, extending their rally for a second straight session amid strong global cues and optimism surrounding ongoing U.S.-China discussions. The S&P BSE Sensex surged 789.74 points or 1.06% to 75,398.72. The Nifty 50 index rose 277 points or 1.18% to 23,689.60. In two consecutive trading sessions, the Sensex jumped 1.13% while the Nifty 50 added 1.33%.

The key domestic indices ended with marginal losses on Friday, snapping a two-session winning streak. Investor sentiment remained cautious due to the weakening rupee, which slipped past the Rs 96-per-dollar mark, elevated crude oil prices, inflation concerns, and persistent geopolitical uncertainties. The S&P BSE Sensex declined 160.73 points or 0.21% to 75,237.99. The Nifty 50 index lost 46.10 points or 0.19% to 23,643.50. Over the past two trading sessions, the Sensex advanced 1.13%, while the Nifty 50 gained 1.33%.

On Friday, in the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee hovered at 95.8700 compared with its previous close of 95.6400. During the session, the rupee hit a fresh record low of 96.14 against the U.S. dollar.

PM Modi Urges Austerity Amid Energy Crisis:

Amid elevated crude oil prices and the ongoing U.S.-Iran conflict, Prime Minister Narendra Modi urged citizens to adopt austerity measures, including reducing petrol and diesel consumption, avoiding non-essential gold purchases and foreign travel, and promoting the use of locally manufactured products. He also advocated greater use of public transport, EVs, work-from-home practices, and domestic tourism to conserve foreign exchange reserves and strengthen India’s economic resilience.

The Prime Minister also called for reduced edible oil consumption and lower dependence on chemical fertilizers, while encouraging natural farming and wider adoption of solar-powered irrigation systems. Stressing the importance of the ‘Vocal for Local’ initiative, Modi said increasing the use of indigenous products was essential to reduce import dependence and safeguard national interests amid global economic disruptions.

Fuel Hike

Petrol and diesel prices were increased across India on Friday with immediate effect as oil marketing companies raised rates by up to Rs 3 per liter due to continued fluctuations in global crude oil prices.

In Delhi, petrol prices went up by Rs 3 to Rs 97.77 per litre, while diesel now costs Rs 90.67 per litre. In Mumbai, petrol prices increased by Rs 3.14 to Rs 106.68 per litre, diesel prices increase by Rs 3.11 to Rs 93.14 per liter.

Economy:

India's wholesale prices increased 8.30% year-on-year in April 2026, accelerating sharply from a 3.88% rise in March. This marked the fastest growth since October 2022, driven by a faster rise in manufacturing and food costs and a sharp increase in fuel prices due to the impact of the Middle East crisis.

India’s consumer price inflation in April rose for the sixth straight month. Year-on-year inflation rate based on All India Consumer Price Index (CPI) with base year 2024 for the month of April, 2026 over April, 2025 is 3.48% (Provisional), rising from 3.40% in previous month.

India's trade deficit widened to $28.38 billion in April from $20.67 billion in March, as both imports and exports increased sequentially. Merchandise exports stood at $43.56 billion in April compared with $38.92 billion in the previous month, while imports rose to $71.94 billion from $59.59 billion. However, on a year-on-year basis, merchandise exports grew by over 13% in April, marking one of the strongest monthly performances in the past 10 years, according to the commerce ministry.

Stocks in Spotlight:

Tata Consumer Products surged 4.73%. The company reported a 21.53% jump in consolidated net profit to Rs 419.08 crore on a 17.91% increase in revenue from operations to Rs 5,433.62 crore in Q4 March 2026 over Q4 March 2025.

Cipla surged 6.06%. The company’s consolidated net profit stood at Rs 554.64 crore in Q4 FY26, down 54.61% from Rs 1,221.84 crore in Q4 FY25 and fell 17.93% from Rs 675.80 crore in Q3 FY26. Revenue from operations declined 2.02% YoY to Rs 6,464.26 crore in Q4 FY26 from Rs 6,597.72 crore in the year-ago period. Revenue fell 7.16% sequentially from Rs 6,962.97 crore in Q3 FY26.

Hindustan Petroleum Corporation (HPCL) declined 5.37%. The company’s standalone net profit jumped 46.09% to Rs 4,901.50 crore in Q4 FY26 as against Rs 3,354.98 crore in Q4 FY25. The company's total income (excluding excise duty) rose 4.97% YoY to Rs 1,15,782.23 crore during the March 2026 quarter.

Tata Power Company dropped 6.77%. The company’s consolidated net profit fell 4.50% to Rs 995.91 crore on 12.84% fall in revenue from operations to Rs 14,900.20 crore in Q4 FY26 over Q4 FY25.

Bharti Airtel rallied 3.77%. The company reported a 10.47% quarter-on-quarter (QoQ) rise in consolidated net profit at Rs 7,325.1 crore for Q4 FY26, compared with Rs 6,630.4 crore in Q3 FY26. Revenue from operations increased 2.59% QoQ to Rs 55,383.2 crore in the March quarter from Rs 53,853.6 crore in the preceding quarter.

DLF slipped 6.80%. The company reported a marginal 1.06% year-on-year decline in consolidated net profit to Rs 1,268.56 crore for Q4 FY26, compared with Rs 1,282.20 crore in the corresponding quarter last year. Revenue from operations fell sharply by 41.99% YoY to Rs 1,814.06 crore in the quarter ended 31 March 2026.

Tata Motors Passenger Vehicles (TMPVL) rose 0.34%. The company has reported 31.7% fall in consolidated net profit to Rs 5,783 crore in Q4 FY26 from Rs 8,470 crore in Q4 FY25. Revenue from operations rose by 7.2% year-on-year (YoY) to Rs 1,04,923 crore during the period under review.

United Spirits jumped 3.06%. The company’s standalone net profit jumped 26.61% to Rs 571 crore on 3.39% rise in revenue from operations (excluding excise duty) to Rs 3,046 crore in Q4 FY26 over FY25.

Sheela Foam surged 4.29%. The company reported a more than six-fold jump in consolidated net profit to Rs 91.28 crore in Q4 FY26, compared with Rs 13.08 crore posted in Q4 FY25. Revenue from operations jumped 23.59% YoY to Rs 1,050.06 crore, on account of higher volume growth in both mattress and foam segments.

Kaynes Technology India plunged 27.41%. The company’s consolidated net profit declined 21.5% to Rs 91.22 crore despite a 26.22% increase in revenue from operations to Rs 1242.63 crore in Q4 FY26 over Q4 FY25.

Global Markets:

China’s annual inflation rose to 1.2% in April 2026 from 1% in March, exceeding market expectations of 0.8%. The increase was driven by higher transport, healthcare and education costs amid elevated energy prices and supply chain disruptions linked to the Middle East conflict. Food prices declined 1.6%, pressured by weaker pork, vegetable and fruit prices. On a monthly basis, China’s consumer price index rose 0.3% in April.

The UK economy expanded 0.6% in Q1 2026, in line with expectations and marking its strongest quarterly growth since Q1 2025. The previous quarter’s growth was revised to 0.2%. Growth was supported by stronger services activity, particularly in wholesale and retail trade, while manufacturing and construction also contributed positively. On an annual basis, the UK economy grew 1.1%, ahead of market expectations of 0.8%.

Eurozone industrial production rose 0.2% month-on-month in March 2026, supported by increased output of intermediate goods, capital goods and durable consumer goods. However, the reading missed market estimates, while annual industrial production in the bloc declined 2.1%, highlighting continued weakness in the manufacturing sector.

U.S. wholesale inflation accelerated sharply in April. The producer price index rose 1.4% month-on-month, following an upwardly revised 0.7% increase in March, according to the Bureau of Labor Statistics. This marked the biggest monthly rise since March 2022. On an annual basis, producer prices increased 6%, the highest level since December 2022.

According to data released by the US Bureau of Labor Statistics (BLS), the annual inflation rate in the US climbed to 3.8% in April 2026 from 3.3% in March, hitting its highest level since May 2023.