Indian equity markets are expected to open on a positive note on May 21, supported by strong global cues, easing geopolitical concerns and upbeat momentum across Asian markets. The GIFT Nifty, an early indicator for the benchmark indices, was trading 0.80% higher at 23,854 in early trade, signalling a firm start for domestic equities.

Benchmark indices staged a sharp recovery in the previous session after witnessing heavy selling pressure during the day. The NSE Nifty 50 closed 0.17% higher at 23,659, while the BSE Sensex advanced 0.16% to settle at 75,318. Both indices had declined nearly 0.9% intraday before late buying helped markets erase losses. Oil & Gas stocks emerged as the top-performing sector, while FMCG shares lagged. Banking and metal counters snapped a three-session losing streak, whereas IT and pharma stocks ended lower after recent gains.

Global sentiment improved after reports suggested progress in negotiations between the United States and Iran, easing fears of prolonged disruptions in crude oil supply. Wall Street rallied sharply overnight, with the S&P 500 rising more than 1% and the Nasdaq 100 climbing 1.7%, led by gains in technology and semiconductor shares. Asian markets also opened higher, with South Korean equities surging over 4%, while Japan’s Nikkei and Australia’s ASX 200 posted gains amid cooling oil prices and optimism over global growth.

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Investors will also track movements in crude oil prices after Brent crude recovered above $105 per barrel following a steep decline in the previous session. Market participants remain focused on geopolitical developments in the Middle East and their impact on energy markets, inflation and global risk appetite. Foreign institutional investor activity, rupee movement and bond yields are also expected to influence trading sentiment during the session.

Several companies will remain in focus due to quarterly earnings announcements and corporate developments. Major earnings expected during the day include ITC, Aurobindo Pharma, GAIL (India), Life Insurance Corporation of India, Max Healthcare Institute and Page Industries. Stocks such as Reliance Industries, Aditya Birla Capital, HCLTech and Dalmia Bharat are also likely to remain active due to corporate announcements and fundraising plans.

Among post-market earnings, Apollo Hospitals Enterprise reported strong growth in revenue and profit, while Bosch, Metro Brands and Medplus Health Services also posted healthy quarterly numbers. On the other hand, Whirlpool of India and JK Lakshmi Cement reported pressure on margins and profits. Traders are expected to remain stock-specific while closely monitoring earnings, global market cues and geopolitical developments throughout the session.

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