Sensex, Nifty End Lower on Profit Booking in IT, Bharti Airtel; Markets Show Cautious Optimism

Mumbai, May 16 – Indian benchmark indices declined on Friday as investors booked profits in IT stocks and Bharti Airtel, following a sharp rally in the previous session.

Indices Retreat After Rally​

The BSE Sensex fell by 200.15 points, or 0.24%, to close at 82,330.59. It had dipped as much as 383.79 points during the day, touching a low of 82,146.95. The NSE Nifty also slipped 42.30 points, or 0.17%, settling at 25,019.80.

The decline came a day after both indices surged to seven-month highs. On Thursday, the Sensex soared 1,200.18 points (1.48%), and the Nifty jumped 395.20 points (1.60%).

Bharti Airtel Falls After Singtel Stake Sale​

Bharti Airtel dropped 2.81% after Singapore Telecommunications Ltd (Singtel) sold about 1.2% of its direct stake in the telecom major for approximately USD 1.5 billion. The sale aligns with Singtel’s strategy to optimise its asset portfolio and drive sustainable shareholder returns.

Key Losers and Gainers​

Other notable laggards in the Sensex pack included:

• HCL Tech
• Infosys
• Tech Mahindra
• Tata Consultancy Services
• State Bank of India
• Bajaj Finserv
• Larsen & Toubro
• Mahindra & Mahindra
• Titan

Meanwhile, the top gainers were:

• Eternal
• Hindustan Unilever
• Asian Paints
• ITC
• Tata Motors
• NTPC

Market Sentiment and Sectoral Outlook​

“Markets languished in negative territory throughout the trading session and ended weak due to selective profit-taking in IT, banking, and metal shares. However, broader indices like mid and small-cap indices, coupled with most sectoral stocks ending in positive territory, show that investors are cautiously optimistic on equities, despite global uncertainties,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Global and Institutional Trends​

• In Asia, indices such as Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng ended lower, while South Korea's Kospi closed positively.
• European markets were trading higher.
• US markets ended mostly higher on Thursday.
• Global oil benchmark Brent crude edged up 0.09% to USD 64.59 per barrel.
• Foreign Institutional Investors (FIIs) were net buyers, investing Rs 5,392.94 crore in Indian equities on Thursday.

Despite Friday’s dip, the broader market sentiment remains cautiously optimistic amid ongoing global uncertainties and sector-specific profit booking.