Indian stock markets witnessed extremely volatile trading on May 18.
👉 BSE Sensex
initially crashed nearly:
🔻 900 points
while:
👉 Nifty 50
slipped below:
📉 23,400
However, markets later recovered sharply from intraday lows.
📊 What Happened During the Session?
🚨 Sharp Early Selloff
Heavy selling pressure was seen across:
- Realty
- Auto
- PSU Banks
- Financial stocks
Global uncertainty and profit booking continued to weigh on sentiment.
📉 Major Sectoral Weakness
🏢 Realty Stocks Hit Hard
👉 Nifty Realty
was the worst-performing sector, falling around:
🔻 2.14%
🚗 Auto Stocks Under Pressure
Auto shares saw broad-based weakness amid market risk-off sentiment.
🏦 PSU Banks & Financials Weak
Banking indices remained under pressure due to:
- FII selling
- Profit booking
- Technical weakness
📉 Stocks That Dragged the Market
Major laggards included:
- Tata Steel
- Power Grid Corporation of India
Both stocks fell more than:
🔻 3%
💻 IT Sector Was the Only Bright Spot
👉 Nifty IT
was the:
✅ Only sector trading in green
rising around:
📈 0.6%
🧠 Why IT Stocks Outperformed
Main reasons:
- Defensive buying
- Positive global tech sentiment
- Rupee weakness benefits exporters
- Nasdaq strength
📈 Why Did Markets Recover Later?
💰 Value Buying Emerged
After sharp correction:
- Traders bought quality stocks at lower levels
- Short covering accelerated recovery
📊 Technical Support Held
Nifty found buying interest near important support zones.
⚠️ Key Levels to Watch
📌 Nifty Support
- 23,400
- 23,300
📌 Resistance
- 23,700
- 23,900
🔍 Final Takeaway
- Markets saw huge intraday volatility
- Sensex recovered nearly 900 points from lows
- Realty, auto and PSU banks remained weak
- IT was the only sector in green
👉 The sharp recovery from lows suggests traders are still buying on dips, but volatility remains very high amid global uncertainty and sector-specific pressure. 📊🔥
