NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on May 13

The Indian equity benchmarks are set to open on a flat note on Wednesday, May 13, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad advanced 11 points to 23,435 amid subdued cues from Asian markets.

The Indian equity benchmarks nosedived and fell for a fourth straight session on Tuesday as investors' sentiment soured after crude oil prices jumped and rupee hit a record low of 95.63 against the US dollar. The SENSEX fell as much as 1,566 points and NIFTY50 index touched an intraday low of 23,348 on the back of a broad-based selloff.

The SENSEX dropped 1,456 points to close at 74,559 and NIFTY50 index tumbled 436 points to 23,379.55.

Asian markets

Asian markets were trading on a subdued note tracking a sombre trend in US markets and a spike in crude prices. Japan's Nikkei advanced 0.25%, China's Shanghai Composite rose 0.04% and Hong Kong's Hang Seng fell 0.3%.

Oil prices declined on Wednesday but remained above $105 per barrel after rising for three consecutive sessions, as investors awaited developments around the fragile ceasefire in the Iran war and US President Donald Trump headed to China ‌for a high stakes summit with President Xi Jinping.

Brent crude futures lost 82 cents, or 0.76%, to trade at $106.95 a barrel. West Texas Intermediate futures fell 66 cents, or 0.65%, to $101.52.

Wall Street update

US stocks ended subdued on Tuesday as AI related stocks came under selling pressure after reports suggested that government in South Korea may redistribute windfall AI profits from companies to its citizens.

Tech heavy Nasdaq fell 0.71%, S&P 500 index declined 0.16% and Dow Jones Industrial Average advanced 0.11%.

FII/DII activity

Foreign institutional investors (FII) sold shares worth ₹1,959.39 crore on Tuesday while domestic institutional investors bought stocks worth ₹7,990.32 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹2,15,404 crore, data from National Securities Depository Limited (NSDL) showed.

Q4 earnings today

Several key companies will release their latest set of numbers for the quarter ended March 2026 on Wednesday.

Bharti Airtel, two-wheeler maker TVS Motor Company, power projects financer Power Finance Corporation, commercial vehicles manufacturer Tata Motors, real estate major DLF, pharma player Cipla, fully integrated exploration and production company Oil India, crude oil refiner Hindustan Petroleum Corporation Ltd and telecommunications services provider Bharti Hexacom are some of the prominent companies which will report their earnings today.

Stocks to watch

The company’s consolidated net profit for the quarter ended March rose 27.8% year-on-year to ₹335 crore, compared with ₹262 crore in the corresponding period last year, according to its exchange filing.

In the corresponding period of the previous fiscal year, the firm had clocked a profit of ₹1,043 crore, according to a regulatory filing.

In the corresponding period of the previous fiscal year, it logged a net profit of ₹400.82 crore, according to a regulatory filing.

During the quarter under review, its revenue from operations rose 2.12% YoY to ₹10,510.51 crore, compared to ₹10,292.54 crore in the March quarter of the 2024-25 fiscal year (Q4 FY25).

The company’s revenue from its mobile and other electronics manufacturing services (EMS) business increased 4% YoY to ₹9,485 crore during the quarter, in comparison to ₹9,102 crore in the same period last year. This business contributes to 90% of the firm’s revenue.

The company had posted a profit after tax of ₹1,586.7 crore in the corresponding quarter of the previous fiscal year, Dr Reddy's Laboratories Ltd said in a regulatory filing.

Consolidated total revenue from operations in the fourth quarter stood at ₹7,546.4 crore as against ₹8,528.4 crore in the same period a year ago, it added.

Revenue from generic drugs in North America in the quarter was down 51% at ₹1,756.2 crore as compared to ₹3,558.6 crore in the year-ago period.

On the other hand, generics revenue in India grew 20% at ₹1,566.3 crore as compared to ₹1,304.7 crore seen in the corresponding period a year ago, the company said.

Similarly, generics revenue in Europe grew by 14% to ₹1,452 crore from ₹1,275 crore in the year-ago period.

The company had a net profit of ₹66.01 crore in the corresponding period a year ago, a regulatory filing showed.

Its revenue from operations was reduced to ₹1,770.69 crore in the January-March quarter from ₹1,968.86 crore seen in the comparable year-ago period.

However, expenses also decreased to ₹1,757.80 crore during the quarter under review, from ₹1,930.45 crore recorded a year ago.

Its net profit stood at ₹14.05 crore in the year-ago period.

Total income rose sharply to ₹1,728.69 crore during the fourth quarter of the 2025-26 fiscal year from ₹667.20 crore seen in the corresponding period of the preceding year, according to a regulatory filing.

During the 2025-26 fiscal year, the company's net profit rose to ₹93.71 crore from ₹21.62 crore seen in the preceding year.

The company said its marine platform, Astro Offshore, has entered into a contract with US-based engineering and applied technology company Oceaneering International Inc to pursue offshore and subsea opportunities in Europe, marking APSEZ's entry into specialised deepwater engineering and underwater infrastructure services in the region.

As part of the expansion, Astro Offshore will add a 2021-built 97-metre DP2 multipurpose support vessel, Energy Savannah -- to be renamed Astro Atlas -- to strengthen its subsea construction and offshore execution capabilities.

The vessel, capable of operating in water depths of more than 3,000 metres, is equipped with a 150-tonne subsea crane, a secondary crane, a moonpool, and accommodation for up to 100 personnel, enabling offshore construction, cable laying and pipeline installation work.

GVK Energy Ltd, through its subsidiary AHPL, is engaged in the generation of power from a 330 MW hydroelectric power project in Srinagar, Uttarakhand.

"The proposed combination involves the acquisition of 100% share capital and control of the target (GVK Energy Ltd) by the acquirer (Adani Power Ltd) pursuant to the corporate insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016, in respect of the target," the regulator said in a release.

It had reported a net profit of ₹1,077.22 crore in the year-ago period, the company said in a stock exchange filing.

During the latest January-March quarter, the company's total income fell marginally to ₹6,476.95 crore from ₹6,570.69 crore in the fourth quarter of FY25.

Torrent Power's expenses were at ₹5,929.59 crore in Q4 FY26 from ₹5,951.34 crore in the same period a year ago.

For the full FY26, the net profit stood at ₹2,469.36 crore as against ₹3,058.61 crore recorded in the preceding year.

In a separate statement, the company said the preceding fiscal year's figure came after "adjusting for one-time, non-cash reversal of deferred tax liabilities of ₹637 crore in FY25".

Trade setup

The NIFTY50 index gave a clear breakdown on the daily charts by closing below 23,800. The index opened nearly 100 points lower and fell further in the closing hours on the weekly expiry day. The index now aims to fill the gap of 8 April, where the index opened over 700 points higher. The gap fill suggests the index could find support near 23,123 in the near term.

The initial build up for the coming weekly expiry suggests strong support at 23,000 as the puts for the strike price hold the highest open interest. On the other hand, 23,500 calls hold the highest open interest, indicating a strong resistance for the near term.