IN Stock Market Today: Sensex 75,002.76, Nifty 23,575 down, BSE replaces Wipro

Reliance Industries Ltd delivered a strong 2.52% gain on 20 May 2026, outperforming the broader market even as the Nifty and Sensex fell due to global selling pressure and weak US cues.

The stock showed notable resilience during the market crash, supported by heavy institutional buying and strength across its diversified businesses in energy, telecom (Jio), and retail. It also provided significant index support, helping cushion losses in the Sensex.

The rally was driven by a mix of factors, including improving telecom ARPU (~₹195–₹200), stable refining margins (GRM near $8–9/bbl), and strong domestic fund inflows (~₹1,200 crore in large-cap buying) with Reliance as a key beneficiary.

Investors also rotated into Reliance as a safe-haven large-cap stock amid global uncertainty, rising US bond yields, and volatile crude prices around $82 per barrel, which still supported its refining segment.

Overall, Reliance continues to stand out as a stabilizing index heavyweight, with strong institutional demand, diversified earnings streams, and long-term growth visibility, even in volatile global market conditions. You can read the full blog here for detailed insights.

Bharat Electronics reported mixed Q4 results as the company’s profit after tax missed market expectations, triggering a nearly 5% decline in its share price despite steady operational growth. Investors reacted negatively to weaker net profit margins even though the company posted 6% year-on-year EBITDA growth, supported by stable demand in defense electronics, radar systems, communication technologies, and military equipment projects.

The earnings miss increased caution among short-term traders, especially as expectations for the defense sector had risen sharply due to India’s growing focus on domestic defense manufacturing and modernization programs.

The Indian defense sector remains one of the country’s strongest long-term growth themes, backed by rising government spending and “Make in India” initiatives. Bharat Electronics continues expanding into advanced technology segments, including artificial intelligence, cybersecurity, drones, and electronic warfare systems, increasing investor interest in defense-focused AI and technology-linked stocks.

You can read the full blog here.

Ola Electric reported a net loss of ₹395 crore in Q4 FY26, while revenue fell nearly 45 percent year on year, reflecting continued pressure in India’s electric scooter market as demand slowed and competition intensified. The results highlight a weak operating environment for Ola Electric despite ongoing cost control measures and restructuring efforts.

The company’s performance was also impacted by earlier trends, including a 55 percent revenue drop in Q3 FY26 to ₹470 crore and losses of around ₹487 crore, showing sustained financial stress across multiple quarters. Lower scooter deliveries, weak retail demand, and rising competition from TVS, Bajaj Auto, and Ather Energy further weakened growth momentum.

A major concern for investors remains falling deliveries, with scooter sales dropping sharply from 84,029 units to 32,680 units year on year, along with service issues, pricing pressure, and reduced market share in urban EV segments. These factors have contributed to weaker consumer confidence and slower repeat demand.

On the recovery side, Ola Electric is focusing on cost reduction, automation, and battery localization, including a ₹2,000 crore investment in EV and battery technology units. The company also undertook workforce restructuring, impacting about 5 percent of employees, to reduce cash burn and improve operational efficiency.

Despite these efforts, competition remains strong, with Ather Energy reporting nearly 74 percent revenue growth and Bajaj Auto expanding EV profitability with strong margins, putting additional pressure on Ola Electric’s market position. Read the full blog here for detailed insights and analysts' predictions.

Bharat Electronics Ltd (BEL) shares fell over 2 percent after its FY26 results and final dividend announcement, even though the company delivered steady earnings growth and stable operational performance. The decline was mainly driven by high market expectations rather than weak fundamentals.

The company reported around 5 percent YoY growth in Q4 profit at approximately ₹2,226 crore, while full-year FY26 net profit stood near ₹6,048 crore, marking about 14 percent annual growth. Revenue also rose strongly to around ₹27,479 crore, supported by consistent execution in defence electronics projects.

BEL continues to benefit from strong demand in defence segments such as radar systems, naval electronics, missile systems, and electronic warfare. However, margins saw slight pressure due to rising execution costs and competitive bidding in some defence tenders.

A major strength remains the company’s order book above ₹73,000 crore, offering strong multi-year revenue visibility. This large pipeline continues to support long-term stability despite short-term stock volatility.

The final dividend of ₹0.55 per share was announced in line with PSU payout norms but was seen as modest compared to investor expectations, contributing to mild profit booking in the stock.

Overall, BEL remains fundamentally strong with steady growth, strong government-backed demand, and a solid order pipeline. However, near-term pressure is likely due to valuation concerns, expectation mismatch, and profit booking after recent rallies. Read the full blog on Bharat Electronics Ltd (BEL) shares here for full insights.

NSE stocks witnessed strong trading activity in today’s session, with Vodafone Idea, Ola Electric, and Fineotex Chemical emerging as the most actively traded counters on the National Stock Exchange. Overall market sentiment was driven by high liquidity, sector rotation, and sharp intraday volatility across mid-cap and high-beta stocks.

Vodafone Idea led the charts with heavy volumes and price swings between 15 and 18 percent, reflecting continued speculative interest in the telecom stock amid ongoing financial restructuring themes and earnings-related triggers.

Ola Electric also recorded strong trading momentum with volume growth of over 25 percent, supported by rising retail participation and continued optimism in the electric vehicle sector.

Fineotex Chemical saw steady buying interest with mid-cap chemical stocks benefiting from export demand expectations and sector rotation activity among traders, contributing to stable intraday participation.

Market behavior showed a clear shift toward short-term trading, with intraday positions forming nearly 40 percent of total participation in active NSE stocks. Volatility remained elevated, with price swings ranging from 8 to 18 percent, highlighting a highly reactive trading environment driven by news flow and retail activity.

Read the full blog on NSE stocks here for detailed analysis and insights.

Stocks across retail, industrial, and consumer sectors are set for heightened activity as investors track Q4FY26 earnings from Metro Brands, Grasim Industries, and Lenskart, with expected stock volatility of around 5%–10% driven by results and guidance.

Metro Brands is trading in the ₹1,180–₹1,220 range, with market expectations of 12%–15% revenue growth and EBITDA margins near 32%, supported by premium footwear demand and store expansion trends. Investors are also watching the same-store sales growth of around 9% based on recent performance.

Grasim Industries is hovering near ₹2,850–₹2,950, with estimates pointing to revenue above ₹44,000 crore and net profit growth of 20%–25% YoY. Focus remains on its ₹10,000 crore-plus paints expansion, alongside cement and viscose fibre business performance.

Lenskart is trading around ₹474 after a 1.12% drop, linked to a ₹5,315 crore block deal involving 11.22 crore shares, while sentiment remains tied to IPO expectations and omnichannel expansion strategy.

Here’s the full blog on focus stocks today for detailed insights.

Zydus Lifesciences Ltd shares jumped 6.49% after reporting a 14.6% YoY rise in Q4 profit to ₹1,592.9 crore versus ₹1,390 crore, driven by strong US and domestic market performance. Trading volumes also surged nearly 28% in a single session, reflecting strong investor reaction to earnings.

Revenue remained above the ₹5,000 crore mark, with over 50% contribution from US generics and more than 20% from India formulations. Operating margins stayed near 20%, supporting stable profitability despite input cost pressures.

The stock movement also followed improved pharma sector sentiment, with overall sector gains exceeding 3% after the earnings announcement. EPS growth was estimated in the 12%–15% range, supported by consistent earnings expansion.

Market indicators show a market cap above ₹90,000 crore, ROE near 15%, and a dividend yield around 0.5%, highlighting steady financial efficiency. Growth expectations for FY26 remain in the 8%–10% range, supported by pipeline strength and multiple US FDA approvals.

Read the full blog here.

Apollo Micro Systems (NSE: APOLLO) jumped 8.04% to Rs 368.10, hitting a fresh 52-week high during intraday trade. The stock also surged nearly 24% over the last three trading sessions, backed by sustained buying interest and volumes significantly above the 20-day average.

The rally was driven by defence sector optimism, rising order pipeline visibility, and expectations of strong quarterly performance. The breakout above the 52-week high level triggered momentum-based and technical buying, adding further upside pressure to the stock.

Investor sentiment strengthened as India’s defence manufacturing outlook remains supported by higher procurement targets and growing demand for aerospace and electronic warfare systems. The stock’s sharp move reflects increased participation from both retail and institutional investors in defence-linked counters.

Despite the strong momentum, market focus remains on order execution timelines, revenue growth consistency, and margin performance, especially after the recent multi-session rally and elevated valuation levels.

Overall, the move highlights continued strength in the defence sector space, with small-cap defence manufacturers attracting closer attention amid improving long-term visibility. Read the full blog on Apollo Micro Systems here for a detailed analysis.

The Sensex at 75,002.76 and the Nifty at 23,575 indicate a down session while the BSE enters the Nifty50 rejig, replacing Wipro. The market tracks the index shift and experiences flat-to-weak momentum in a single line snapshot of price action and structural change.

The Indian equity benchmarks closed, with the Sensex recorded at 75,002.76 points, while the Nifty stood at 23,575, marking a decline-led session where index movement remained constrained within a narrow range. The print reflects cautious positioning across large-cap stocks, with traders tracking both index levels and upcoming reshuffle expectations.

Mid-session data showed the Nifty maintaining pressure near the 23,500–23,600 band, while the Sensex oscillated around the 75,000 mark, indicating a limited directional breakout despite active stock-specific movement. Market breadth remained closely aligned with index weight adjustments rather than broad momentum expansion.

A key structural development in focus is the anticipated Nifty50 reshuffle, where BSE is set to enter the benchmark index, replacing Wipro in the upcoming September rejig. The change marks a significant index rebalancing event impacting passive fund flows and benchmark-linked allocations.

As reported by the Economic Times, the inclusion of BSE and exclusion of Wipro reflect the periodic review based on liquidity, market capitalization, and trading activity metrics that drive index composition decisions.

The reshuffle adjustment is expected to trigger portfolio realignment across index funds and ETFs tracking Nifty50, with weight redistribution shifting away from Wipro and toward newly inducted constituents. Market participants are closely tracking execution timelines ahead of the September implementation window.

Trading activity remained centered around index-linked positioning as investors reacted to both the 75,002.76 Sensex level and the 23,575 Nifty mark while simultaneously pricing in the upcoming benchmark composition update.