News Overview

As the Indian rupee weakened to 96.96 per US dollar, the RBI stepped in with a $5 billion currency swap to inject liquidity and stabilise the banking system. The move comes amid rising crude oil prices, geopolitical tensions in West Asia, and sustained foreign investor outflows that have intensified pressure on the rupee and India’s financial markets.

Asian equities rallied on Friday as Nvidia’s strong earnings reinforced the global AI spending narrative and hopes of a US-Iran peace deal improved risk appetite. Japan’s Nikkei jumped 2.68%, powered by tech and semiconductor stocks, while India’s Nifty remained cautious as investors monitored crude oil prices, Hormuz shipping activity, and geopolitical developments in the Middle East.

A new McKinsey report projects India’s electrical equipment industry could become a $235 billion powerhouse by 2035, driven by renewables, EVs, and grid expansion. But the report also warns that without aggressive manufacturing investment, India risks becoming dangerously dependent on imports, especially from China, in critical sectors like batteries, solar modules, and power electronics.

Indian equity markets ended higher on May 22, 2026, supported by easing geopolitical tensions, declining crude oil prices, and a sharp recovery in the rupee. Banking and financial stocks led the rally, while Pharma, IT, and Media sectors remained under pressure amid selective profit booking and earnings reactions.

Chinese AI firms Zhipu AI and MiniMax rallied sharply after emerging as top candidates for inclusion in the Hang Seng Tech Index. Analysts believe Stock Connect eligibility and passive ETF inflows could drive billions in capital inflows, although lock-up expiries and weak fundamentals remain key risks.

LIC share price jumped nearly 5% after the insurance giant posted a 23% YoY rise in Q4 FY26 profit, announced its maiden 1:1 bonus issue, and declared a final dividend of ₹10 per share. The strong earnings and shareholder rewards boosted investor sentiment around the stock.

Honasa Consumer stock hit a 52-week high after reporting record Q4FY26 results. Strong revenue growth, margin expansion, and the announcement of its first-ever dividend boosted investor sentiment.

MTAR Technologies stock surged nearly 6% to hit a fresh all-time high after the company announced a ₹467 crore international order win. The company expects its FY27 order book to reach ₹5,000 crore amid strong momentum in nuclear, aerospace, and oil & gas businesses.

JSW Cement posted a massive jump in Q4 FY26 profit, supported by higher cement volumes and improving industry demand. The company also announced a ₹430 crore capacity expansion at its Nagaur plant in Rajasthan and recommended a dividend for FY26.

Varun Beverages share price jumped over 3% after PepsiCo extended the company’s exclusive bottling agreement till 2049. Investors also cheered the removal of restrictions on non-bottling business operations.