D-Street Snaps Recovery Streak as Rupee Hits Record 96; FIIs Turn Net Buyers Amid Late Sell-Off**

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Market Snapshot

The Indian stock market witnessed a volatile session on Friday, with indices surrendering early gains to settle in negative territory. The BSE Sensex declined by 160.73 points, or 0.21%, to close at 75,237.99, while the NSE Nifty 50 slipped 46.10 points, or 0.19%, to end at 23,643.50. The session was characterized by a "gap-up" opening tracking positive global cues from Wall Street, but the momentum fizzled out as the Indian Rupee depreciated to a historic low of 96.00 against the US Dollar.

Sectoral performance remained mixed: * Top Gainers: The Nifty IT index rose 1.3%, supported by value buying in heavyweights like Infosys and Tech Mahindra. Media and FMCG also managed to end in the green. * Top Losers: Nifty Metal fell nearly 2%, while PSU Banks, Realty, and Oil & Gas indices saw significant selling pressure.

Institutional Flows: Cash Market

Provisional data for May 15, 2026, revealed a notable shift in institutional participation. Foreign Institutional Investors (FIIs) emerged as net buyers, a rare sight in what has been a selling-heavy month, while Domestic Institutional Investors (DIIs) booked profits.

Provisional Institutional Activity (May 15, 2026): * FIIs: Net BUY of ₹1,329.17 crore * DIIs: Net SELL of ₹1,958.82 crore

The cumulative data for May still reflects a cautious stance from foreign funds, who have pulled out over ₹20,000 crore from the cash market so far this month, primarily due to rising US bond yields and geopolitical tensions in West Asia.

Derivatives Market Activity

In the F&O segment, technical indicators suggest a tug-of-war between bulls and bears as the market approaches the 24,000 resistance level.

• Nifty Open Interest (OI): The maximum Call OI is positioned at the 24,000 strike, followed by 23,800, indicating a stiff resistance zone.
• Support Levels: On the downside, the maximum Put OI is concentrated at 23,500 and 23,400, which served as a crucial floor during today's intraday dip.
• Volatility: The India VIX eased slightly but remained around the 18.6 level, reflecting persistent underlying anxiety regarding currency fluctuations and global oil supply risks.

Key Drivers and Outlook

The primary headwind for the day was the relentless surge in Brent crude prices, which climbed above $108 per barrel amid concerns over supply disruptions in the Strait of Hormuz. This, coupled with the Rupee's breach of the 96-mark, raised fears of imported inflation and a widening current account deficit.

Looking ahead, market participants will focus on: * Global Cues: The outcome of the high-stakes summit between US President Donald Trump and Chinese President Xi Jinping in Beijing. * Domestic Factors: The final leg of the Q4 FY26 earnings season and the impact of the recent ₹3 hike in retail fuel prices on consumer sentiment. * Currency Stability: Any potential intervention by the RBI to support the Rupee will be closely watched by institutional desks.

TAGS: FII, DII, Stock Market, Institutional Investors, Nifty, Sensex

Tags: ** FII DII Stock Market Institutional Investors Nifty Sensex