From 900-Point Crash To Green Close: Sensex Stages Massive Comeback, Nifty Ends Flat At 23,650

Last Updated:May 18, 2026, 15:50 IST

The Sensex ends marginally higher by 77 points, or 0.10 per cent, at 75,315.04 after plunging to an intraday low of 74,180.26 in early trade.

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Indian equity benchmarks erased steep intraday losses to end almost flat on May 18, as strong buying in IT and select banking stocks helped the market recover from a sharp opening selloff triggered by weak global cues and rising crude oil prices.

The Sensex ended marginally higher by 77 points, or 0.10 per cent, at 75,315.04 after plunging to an intraday low of 74,180.26 in early trade. The index recovered more than 1,100 points from the day’s low. The Nifty 50 also staged a strong comeback and closed nearly flat with a positive bias at 23,649.95, up 0.03 per cent.

Markets had opened sharply lower amid concerns over elevated Brent crude prices, rising US bond yields and geopolitical tensions linked to the continued US-Iran stalemate. However, sentiment improved steadily through the day as investors lapped up beaten-down large-cap stocks, particularly in export-oriented sectors.

Nifty IT emerged as the biggest sectoral gainer, surging 2.43 per cent. Tech Mahindra jumped nearly 5 per cent, while Infosys and TCS also witnessed strong buying interest. The gains in IT stocks came amid expectations that rupee weakness could support export-driven earnings.

Pharma and healthcare shares also attracted buying as investors shifted towards defensive sectors. Nifty Pharma rose 0.52 per cent, while the Healthcare index gained 0.22 per cent.

Private banking stocks recovered sharply from morning lows and helped benchmark indices stabilise. The Nifty Private Bank index ended 0.23 per cent higher, while the Financial Services index closed marginally positive.

Despite the recovery in frontline indices, broader markets remained under pressure. Nifty Smallcap 100 declined 1.26 per cent, Smallcap 250 fell 1.49 per cent and the Microcap 250 index slipped 1.36 per cent, reflecting continued caution in high-risk segments.

Among laggards, PSU banks, media, auto and consumer durable stocks witnessed persistent selling pressure. Nifty PSU Bank fell 1.92 per cent, Media index dropped 2.24 per cent and Consumer Durables index ended 1.80 per cent lower.

India VIX rose 4.47 per cent to 19.63, indicating that volatility concerns remain elevated despite the strong intraday recovery.

Vinod Nair, Head of Research at Geojit Investments Limited, said, “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. The ongoing earnings season has provided a constructive narrative, though caution persists as higher bond yields, elevated crude oil prices, and a weakening rupee reinforce inflationary concerns.”

He added that investors appear to be adopting a staggered allocation strategy rather than waiting for complete clarity, particularly in export-oriented sectors. 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.

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