Mumbai: Indian benchmark indices traded in the green during midday deals on May 19. The Nifty hovered near 23,771 levels, while the Sensex stayed close to 75,732.
Buying interest remained strong in information technology (IT), oil marketing, real estate and defence stocks after earnings announcements and positive global developments supported market sentiment.
IT Stocks Continue Strong Rally
IT stocks extended gains for the third straight trading session. The Nifty IT index surged over 4 percent during intraday trade and gained nearly 8 percent in the last three sessions.
Infosys jumped more than 4 percent, while Tata Consultancy Services gained nearly 3 percent. HCL Technologies and Tech Mahindra also rose over 3 percent. Wipro and Coforge traded with solid gains.
The rally in IT shares was supported by a weaker rupee, which improves earnings for export-focused software companies. Investors also bought IT stocks after sharp corrections seen in recent weeks. Positive signals from US technology stocks further lifted sentiment.
Indian Oil Gains After Strong Earnings
Indian Oil Corporation shares climbed nearly 3 percent after the company reported strong fourth-quarter earnings for FY26.
The state-run oil company posted a 78 percent year-on-year rise in
consolidated net profit at Rs 14,458 crore in Q4FY26, compared to Rs 8,123 crore a year earlier.
Investors reacted positively as the earnings were stronger than market expectations despite concerns over global oil price volatility and refining margins.
BPCL Rises On Fuel Price Hike
Bharat Petroleum Corporation Ltd. (BPCL) shares gained more than 3 percent ahead of its quarterly earnings announcement.
Sentiment improved after petrol and diesel prices were increased for the second time within a week. Investors believe higher fuel prices may support the profit margins of oil marketing companies in the near term.
Puravankara Surges 15 percent
Real estate company Puravankara emerged as one of the top gainers of the day, rising more than 15 percent.
The company reported a sharp turnaround in Q4FY26 results. Revenue jumped 173 percent year-on-year to Rs 1,541 crore. Puravankara also posted a net profit of Rs 117 crore compared to a loss of Rs 111 crore last year.
The company said higher handover of residential units helped improve performance during the quarter.
Adani Group, Defence Stocks Also Gain
Adani Group stocks traded higher after the US Department of Justice dropped criminal charges against Gautam Adani and Sagar Adani in a securities and wire fraud case.
Meanwhile, Apollo Micro Systems surged over 9 percent after reporting strong quarterly earnings. The defence company posted a 169 percent jump in net profit and an 81 percent rise in revenue for Q4FY26.
