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Indian IT stocks witnessed heavy selling pressure after OpenAI unveiled its new AI-focused Deployment Company, raising fears that enterprises may increasingly bypass traditional outsourcing firms. Infosys and TCS plunged to fresh 52-week lows amid concerns over slowing global tech spending, weak discretionary demand, delayed deal closures, and growing AI disruption risks.

MTAR Technologies stock jumped nearly 10% after reporting strong FY26 earnings growth, improved operating cash flows, and lower debt levels. The multibagger stock has gained over 138% in six months as investors remain optimistic about opportunities in clean energy, aerospace, defence, and precision engineering manufacturing.

Jewellery stocks remained under pressure for the third straight session after the government increased gold and silver import duties from 6% to 15%. Shares of Sky Gold plunged over 11%, while Kalyan Jewellers and Thangamayil Jewellery also declined sharply amid fears of weaker consumer demand, rising costs, and pressure on profit margins.

India’s CPI inflation increased to 3.48% in April 2026, marking the fourth consecutive monthly rise. Food inflation climbed to 4.20%, while gold, silver, transport, and service costs continued to rise, signalling growing inflationary pressure across the economy.

At the CII Annual Business Summit 2026, Uday Kotak cautioned that India has not yet fully felt the impact of global oil price shocks. He warned that rising geopolitical tensions could push crude prices higher, fueling inflation, weakening the rupee, and increasing pressure on household budgets and the broader economy.

Indian benchmark indices ended sharply lower on May 12, 2026, with Sensex falling 1,456 points and Nifty closing at 23,379. Rising crude oil prices, persistent US-Iran tensions, rupee weakness, and heavy selling in IT stocks after OpenAI’s new AI deployment business announcement triggered broad-based market weakness. Realty, IT, defence, and financial stocks led the decline, while ONGC gained on government royalty cuts for crude and natural gas production.

India’s bullion market witnessed a historic rally after the government hiked import duty on gold and silver from 6% to 15%. MCX gold futures surged over 6% while silver prices jumped nearly 7%, triggering strong gains in gold ETFs and raising concerns over jewellery demand, inflation, and market volatility.

Adani Group received a major boost after NCLAT upheld its ₹14,535-crore resolution plan for Jaiprakash Associates and dismissed Vedanta’s appeal. The verdict cleared a key legal hurdle in the high-profile Jaypee insolvency case, triggering a nearly 3% rise in Adani Enterprises and Adani Ports shares as investors cheered the strategic acquisition.

V-Marc India shares surged after the company approved a 5:1 bonus issue and reported stellar FY26 results. Revenue nearly doubled to ₹1,797 crore, while net profit jumped 177% YoY. The company also unveiled aggressive expansion plans with ₹500 crore capex through FY30.

Vodafone Idea shares surged nearly 8% to hit a fresh 52-week high after the company announced a board meeting on May 16 to consider fundraising proposals along with Q4FY26 earnings. Improved sentiment following AGR relief, leadership changes, and expectations around debt reduction and network expansion have put the telecom operator back in investor focus.