News Overview

Asian equities traded mixed on Thursday as global investors closely monitored the Trump-Xi summit in Beijing. South Korea’s KOSPI extended record highs led by Samsung Electronics, while Japan’s Nikkei reversed sharply lower after Fujikura’s weak outlook. China’s Shanghai Composite fell despite diplomatic optimism, and India’s Nifty gained over 1% on strong pharma buying even as IT stocks remained under pressure amid elevated oil prices.

Tata Elxsi shares touched a new 52-week low of ₹3,945 amid intense selling pressure across IT stocks. Rising concerns over AI-led disruption, weak global technology sentiment, and fears around changing outsourcing models weighed heavily on investor confidence despite the company reporting record quarterly revenue and profitability.

Polycab India touched a new 52-week high of ₹9,239 after posting record Q4 FY26 results. Strong growth in the wires & cables segment, rising market share, robust FMEG performance, and positive long-term growth outlook boosted investor sentiment.

The Indian benchmark indices staged a strong recovery on May 14, 2026, driven by strong quarterly earnings, bargain buying, and improving global sentiment. Pharma, healthcare, metal, and financial stocks witnessed robust gains, while IT shares remained under pressure due to rising concerns over AI-led disruption in the outsourcing sector. Cipla, Adani Enterprises, Bharti Airtel, and Zydus Lifesciences emerged among the top trending stocks of the day.

Kotyark Industries rallied nearly 7% after announcing a 10:1 bonus share issue. The company also posted strong Q4FY26 results with revenue surging 221% YoY and net profit rising sharply, keeping the renewable energy stock in investor focus.

Wall Street surged to record highs led by technology and AI stocks even as US inflation and Treasury yields climbed sharply. Markets also tracked Kevin Warsh’s appointment as Federal Reserve Chair, Trump’s Beijing visit with Nvidia CEO Jensen Huang, and Europe’s recovery rally, with major implications for India’s economy, rupee, FII flows, and export sectors.

Gautam Adani-led Adani Group continues its expansion spree as Adani Power receives CCI approval for the proposed acquisition of GVK Energy under the insolvency process. The Competition Commission of India also cleared several major corporate deals across infrastructure, engineering, and digital sectors.

PNB Gilts jumped nearly 20% after reports indicated that the Indian government is considering reducing taxes on government and corporate bonds for foreign investors. The proposed move could improve India’s appeal in global debt markets and boost foreign capital inflows.

Zaggle posted strong Q4FY26 earnings with profit rising 30.4% YoY and revenue jumping nearly 50%. The company also guided for 40% revenue growth in FY27, backed by AI-led expansion and overseas growth plans.

Indian IT shares extended losses for the fourth consecutive session as investors reacted to growing fears of AI-led disruption in the outsourcing industry. Nifty IT has declined over 11% in the past 30 days, with Infosys, TCS, HCL Tech, Wipro, and Tech Mahindra witnessing steep corrections amid concerns over OpenAI’s aggressive AI deployment expansion, weak global demand, and pressure on traditional IT business models.