Domestic equity indices bounced back from the day’s lows and traded in green terrain in late morning deals, supported by buying from both funds and retail investors. Hectic buying in Bharti Airtel, Eternal, Sun Pharma, ITC and Larsen & Toubro companies’ stocks helped both the Sensex and Nifty to recapture their psychological 74,800 and 23,500 levels respectively. There were encouragements in markets as private report said India and the United Arab Emirates are expected to firm up two significant agreements to boost cooperation in areas of liquefied petroleum gas (LPG) and strategic petroleum reserves during Prime Minister Narendra Modi's visit to the Gulf nation on May 15, 2026. On the BSE sectoral front, traders were seen piling up positions in Metal, Healthcare, Basic Materials, Utilities and Telecom, while selling was witnessed in IT, Realty, Capital Goods, Auto and TECK.
On the global front, Asian markets were trading mixed as investors looked to a high-stakes meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for clues on the future of U.S.-China ties and global trade. Back home, in the stock specific development, MTAR Technologies surged as the company secured purchase orders worth $238.76 million (around Rs 2278.96 crore) from International Entity.
The BSE Sensex is currently trading at 74880.83, up by 271.85 points or 0.36% after trading in a range of 74526.77 and 75079.80. There were 18 stocks advancing against 12 stocks declining on the index.
The top gaining sectoral indices on the BSE were Metal up by 1.45%, Healthcare up by 1.42%, Basic Materials up by 0.95%, Utilities up by 0.80% and Telecom up by 0.63%, while IT down by 2.30%, Realty down by 1.37%, Capital Goods down by 0.75%, Auto down by 0.69% and TECK down by 0.52% were the top losing indices on BSE.
The top gainers on the Sensex were Bharti Airtel up by 3.12%, Eternal up by 1.79%, Sun Pharma Inds. up by 1.69%, ITC up by 1.36% and Larsen & Toubro up by 1.34%. On the flip side, Tech Mahindra down by 2.76%, Infosys down by 2.46%, HCL Technologies down by 2.32%, TCS down by 1.36% and Bharat Electronics down by 0.89% were the top losers.
Meanwhile, the Reserve Bank of India (RBI) has said that it eliminated the prior approval requirement for non-bank entities to form tie-up arrangements for facilitating outward remittance services through banks in India. An operating framework has been released by the RBI for non-bank entities to facilitate outward remittance services through Authorised Dealer (Category I) banks in India.
It stated ‘On a review, it has been decided to dispense with the process of granting of the approvals by the RBI for such tie-ups and instead Authorised Dealers are advised to comply with instructions...while facilitating cross-border outward remittance of funds for non-trade current account transactions using a third-party entity in online mode.’ Online mode includes a website, online platform, software application, and mobile application.
According to a 2016 direction, non-bank entities had to obtain specific approval from the RBI for tie-up arrangements to facilitate outward remittance services through Authorised Dealer (AD) Category-I banks in India, subject to certain conditions. According to the revised framework, AD banks will be solely responsible for ensuring compliance of the transactions with FEMA and undertaking Know Your Customer (KYC).
It also mandates certain information to be displayed prominently to the customer remitting funds via website/ online platform/ software application/ mobile application/ any other interface of the third party. They are required to notify the customer of the AD’s quoted exchange rate, the time and duration for which it is valid, and the overall estimated cost of the transaction. Customers will be notified of both the exact foreign exchange amount credited and the longest time it may take for the beneficiary’s account to be credited.
The CNX Nifty is currently trading at 23543.15, up by 130.55 points or 0.56% after trading in a range of 23426.55 and 23589.20. There were 33 stocks advancing against 17 stocks declining on the index.
The top gainers on Nifty were Cipla up by 6.88%, Adani Enterprises up by 5.36%, Bharti Airtel up by 3.08%, Dr. Reddy's Lab up by 2.36% and Hindalco up by 2.31%. On the flip side, Tech Mahindra down by 2.74%, Infosys down by 2.43%, HCL Technologies down by 2.30%, Eicher Motors down by 1.59% and TCS down by 1.28% were the top losers.
Asian markets were trading mixed; Nikkei 225 slipped 367.11 points or 0.58% to 62,905.00, Shanghai Composite weakened 31.2 points or 0.74% to 4,211.37 and Straits Times fell 13.15 points or 0.26% to 4,990.81. However, Taiwan Weighted added 212.87 points or 0.51% to 41,587.37, KOSPI increased 45.28 points or 0.57% to 7,889.29 and Hang Seng advanced 137.56 points or 0.52% to 26,526.00.
