The key domestic indices ended with marginal losses on Thursday as media reports suggesting a potential RBI rate hike to defend the rupee dampened investor sentiment. Selling by FIIs and profit booking at elevated levels further capped gains, while the earnings season remained on investors' radar. Nifty ends below 23,700 level

Realty, consumer durables and auto shares advanced while IT, FMCG and media shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 135.03 points or 0.18% to 75,183.36. The Nifty 50 index fell 4.30 points or 0.02% to 23,654.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.18% and the BSE 250 SmallCap Index jumped 0.70%.

The market breadth was positive. On the BSE, 2,412 shares rose and 1,764 shares fell. A total of 203 shares were unchanged.

Economy:

The combined Index of Eight Core Industries (ICI) increased by 1.7% (provisional) in April, 2026 as compared to the Index in April, 2025. The production of cement, steel and electricity recorded positive growth in April, 2026. The cumulative growth rate of ICI during April to March, 2025-26 is 2.7% as compared to the corresponding period of last year.

The HSBC Flash India PMI Composite Output Index stood at 58.1 in May was down only marginally from 58.2 in April and therefore signalled another marked expansion in private sector activity. Underlying data showed that a pick-up in growth across the service economy was offset by a weaker increase in factory production, one that was the second-slowest since mid-2022, excluding March's reading..

The HSBC Flash India Manufacturing PMI was down from 54.7 in April to 54.3 in May, indicating the secondweakest improvement in the health of the sector in close to four years after March. Meanwhile, the HSBC Flash India Services PMI Business Activity Index edged up to 58.9 in May from 58.8 in April, while the Manufacturing PMI Output Index eased slightly to 56.6 from 56.9 in the previous month.

Buzzing Index:

The Nifty Realty index jumped 1.05% to 775.10. The index climbed 3.08% in the three consecutive trading sessions.

Anant Raj (up 4.18%), Phoenix Mills (up 2.85%), Oberoi Realty (up 1.5%), Sobha (up 1.34%) and Godrej Properties (up 1.08%), DLF (up 0.92%), Lodha Developers (up 0.44%) advanced.

Stocks in Spotlight:

Honeywell Automation India surged 14.87% after the company reported a 14.15% increase in standalone net profit to Rs 159.7 crore in Q4 FY26, compared with Rs 139.9 crore in Q4 FY25. Revenue from operations jumped 5.93% year on year to Rs 1,180.7 crore in quarter ended 31 March 2026.

Ola Electric Mobility dropped 3.90% after the company reported weak Q4 FY26 performance despite improvement in gross margins, operating efficiency and cash flow. The company posted a consolidated net loss of Rs 500 crore in Q4 FY26 compared with a net loss of Rs 870 crore in Q4 FY25 and Rs 487 crore in Q3 FY26. Revenue from operations declined 56.6% YoY and 43.6% QoQ to Rs 265 crore in the March 2026 quarter.

Power Mech Projects added 0.57%. The company reported a 21.6% increase in consolidated net profit to Rs 142.55 crore in Q4 FY26, compared with Rs 117.24 crore recorded in Q4 FY25. Revenue from operations jumped 13.89% YoY to Rs 2,110.73 crore for the quarter ended 31 March 2026.

Metro Brands jumped 5.29% after the company's consolidated net profit jumped 23.48% to Rs 117.73 crore on a 20.26% increase in revenue from operations to Rs 772.98 crore in Q4 FY26 over Q4 FY25.

Samvardhana Motherson International advanced 3.40% after the company reported a 46.24% year-on-year surge in consolidated net profit to Rs 1,497.14 crore in Q4 FY26, compared with Rs 1,023.70 crore in the corresponding quarter last year. Revenue from operations increased 9.23% YoY to Rs 34,309.31 crore in the quarter ended 31 March 2026.

Lenskart Solutions gained 2.53% after the company reported an 8.49% year-on-year decline in consolidated net profit to Rs 200.29 crore in Q4 FY26, compared with Rs 218.89 crore in the corresponding quarter last year. However, revenue from operations surged 46.62% YoY to Rs 2,515.71 crore in the quarter ended 31 March 2026.

Apollo Hospitals rallied 2.65%. The company reported a 35.9% year-on-year jump in consolidated net profit to Rs 529.3 crore, compared with Rs 389.6 crore in the corresponding quarter last year. Revenue from operations rose 18.1% YoY to Rs 6,605.5 crore against Rs 5,592.2 crore in the year-ago period.

JSW Cement rallied 6.04% after the company's consolidated net profit surged more than ten-fold to Rs 371.33 crore in Q4 FY26 from Rs 34.22 crore posted in Q4 FY25. Revenue from operations jumped 10.86% YoY to Rs 1894.99 crore in the quarter ended 31st March 2026.

Jubilant FoodWorks dropped 7.81% after the quick-service restaurant operator reported Q4 FY26 performance. The company's consolidated revenue from operations rose 19.3% YoY to Rs 2,499.5 crore in Q4 FY26 from Rs 2,095 crore in Q4 FY25. Profit after tax surged 67.1% YoY to Rs 82.4 crore in Q4 FY26 from Rs 49.3 crore in the year-ago quarter. PAT from continuing operations increased 67.3% to Rs 93.6 crore.

Global markets:

European market advanced on Thursday even as PMI readings for the U.K. and France signalled a contraction in economic activity in May.

U.K. flash PMI contracted on the composite index, coming in at 48.5. U.K. flash manufacturing PMI was 53.7. Services PMI came in at 47.9. France's flash PMI composite index fell to 43.5 during May, down from 47.6 in April ' its biggest drop in five-and-a-half years ' with business activity also falling to a 66-month low.

Most Asian market ended lower despite overnight gains on Wall Street, where sentiment was supported by hopes of a possible resolution to the Middle East conflict and easing concerns over energy supply disruptions.

U.S. President Donald Trump said that Washington was in the 'final stages' of negotiations with Iran, according to media reports, helping lift investor optimism.

Japan's Nikkei 225 jumped over 3% after the release of the country's latest trade data. Exports rose at the fastest pace since January, rising 14.8% in April, driven by surge in semiconductor shipments. Imports grew 9.7% year-on-year, higher than an expected 8.3% rise, according to government data. The country's trade balance narrowed to 301.9 billion yen in April, from 643 billion yen in March.

Overnight in the U.S., The Dow Jones Industrial Average advanced 645.47 points, or 1.31%, closing at 50,009.35. The S&P 500 rose 1.08% to 7,432.97, while the Nasdaq Composite added 1.54% and ended at 26,270.36.

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