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Key gauges end lower due to weak rupee, inflation fears after fuel price hike
May-15-2026

Indian equity benchmarks surrendered early gains to close lower on Friday due to selling in Metal, Realty and Oil & Gas shares and caution among investors amid surging crude oil prices and record low rupee. Markets also remained cautious after petrol and diesel prices were raised by Rs 3 per litre earlier in the day, reviving fears around inflation and household costs.  

Some of the important factors in trade: 

Goyal calls for aligning standards, customs procedures between India-Africa to boost bilateral trade: Ahead of the India-Africa Business Dialogue (IABD), Commerce and Industry Minister Piyush Goyal has called for aligning standards and customs procedures between India and Africa to boost bilateral trade. 

ECB filings halve to $5.43 billion in March: The RBI said foreign borrowing filings by companies and lenders halved to $5.43 billion in March amid financial market volatilities following the West Asia conflict.

India secures place in EU’s revised draft list for continued aquaculture exports: In a major boost for India’s aquaculture industry, the European Union (EU) has included India in its revised draft list for continued export of aquaculture products to the EU market. The earlier regulation had not included India among third countries authorised to export products of animal origin intended for human consumption to the EU from September 2026. 

OMCs hike petrol, diesel prices by Rs 3 per litre each on May 15 amid elevated global crude prices: Amid mounting losses of fuel retailers due to elevated global crude prices, oil-marketing companies (OMCs) hiked petrol and diesel prices by Rs 3 per litre each on May 15, 2026, for the first time in over four years. Petrol price was hiked to Rs 97.77 per litre from Rs 94.77 in the national capital, while diesel costs Rs 90.67 as against Rs 89.67 per litre previously. 

Global front: European markets were trading lower on concerns about the conflict in the Middle East, and disappointment over a lack of concrete outcome so far from the U.S.-China summit in Beijing. Asian markets settled lower amid concerns over the re-escalation of the Middle East conflict after ship attacks and seizures near the Strait of Hormuz. 

Finally, the BSE Sensex fell 160.73 points or 0.21% to 75,237.99 and the CNX Nifty was down by 46.10 points or 0.19% to 23,643.50. 

The BSE Sensex touched high and low of 75,870.36 and 75,139.41, respectively. There were 14 stocks advancing against 16 stocks declining on the index.

The top gaining sectoral indices on the BSE were TECK up by 1.18%, IT up by 1.06%, Telecom up by 0.44%, FMCG up by 0.38% and Healthcare up by 0.18%, while Metal down by 1.98%, Realty down by 1.82%, Oil & Gas down by 1.79%, PSU down by 1.42% and Basic Materials down by 1.31% were the top losing indices on BSE. 

The top gainers on the Sensex were Infosys up by 2.08%, Tech Mahindra up by 2.04%, Power Grid Corporation up by 1.34%, Adani Ports &SEZ up by 1.27% and Bharti Airtel up by 1.13%. On the flip side, Tata Steel down by 1.97%, Eternal down by 1.93%, Reliance Industries down by 1.87%, Ultratech Cement down by 1.83% and SBI down by 1.69% were the top losers.

Meanwhile, ahead of the India-Africa Business Dialogue (IABD), Commerce and Industry Minister Piyush Goyal has called for aligning standards and customs procedures between India and Africa to boost bilateral trade. Highlighting the potential of the African Continental Free Trade Area (AfCFTA), valued at nearly $3.4 trillion, alongside India’s rapidly expanding $4 trillion economy, he stressed that these synergies could unlock resilient partnerships, diversify supply chains, and move trade beyond raw materials toward high-value manufacturing and fully integrated value chains.

He said renewable energy, green hydrogen, green ammonia, electric mobility, digitalisation, and telecommunications are key sectors to boost cooperation. Bilateral trade between India and Africa reached $93.69 billion in 2025-26, registering a 14.39 per cent growth over the preceding year. India's exports to Africa stood at $45.42 billion, while imports reached $48.27 billion during the same period.

Besides, the government has said the upcoming IABD and Exhibition, to be held on the sidelines of the 4th India-Africa Forum Summit (IAFS-IV), will serve as a key platform to deepen economic, strategic and technology partnerships between India and African nations. The dialogue is aimed at expanding cooperation in trade, investment, technology, and people-to-people ties, while also strengthening South-South collaboration.

CNX Nifty touched high and low of 23,839.30 and 23,610.30, respectively. There were 25 stocks advancing against 24 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Tata Motors Passenger up by 5.14%, Dr. Reddy's Lab up by 3.04%, Infosys up by 1.92%, Coal India up by 1.84% and Tech Mahindra up by 1.79%. On the flip side, Hindalco down by 3.47%, Eternal down by 1.96%, Nestle down by 1.88%, Tata Steel down by 1.87% and Reliance Industries down by 1.67% were the top losers. 

European markets were trading lower; UK’s FTSE 100 decreased 130.22 points or 1.27% to 10,242.71, France’s CAC fell 88.57 points or 1.11% to 7,993.70 and Germany’s DAX lost 385.96 points or 1.6% to 24,070.30.

Asian markets settled lower on Friday driven by rising US Treasury yields, while resilient US macroeconomic data and persistent inflationary pressures prompted traders to bet that the Federal Reserve will keep rates higher for longer and may even hike again. Additionally, rising crude oil prices dented market sentiment with escalating tensions near the Strait of Hormuz, where one ship was attacked and another seized, stoked concerns about global energy supplies. South Korea’s KOSPI marked a massive reversal, after briefly surging past the historic 8,000-point milestone for the first time, amid rising expectation that Bank of Korea may hike interest rates at its next meeting scheduled for May 28, 2026. Chinese and Hong Kong shares tumbled after a closely watched summit between US President Donald Trump and Chinese President Xi Jinping ended without major economic breakthroughs. Meanwhile, Indonesian markets were closed for Ascension Day. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,135.39

-42.53

-1.02

Hang Seng

25,962.73

-426.31

-1.62

Jakarta Composite

--

--

--

KLSE Composite

1,740.22

-5.36

-0.31

Nikkei 225

61,409.29

-1,244.76

-1.99

Straits Times

4,989.08

-6.86

-0.14

KOSPI Composite

7,493.18

-488.23

-6.12

Taiwan Weighted

41,172.36

-579.39

-1.39
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