The benchmark indices traded with gains by midday on May 19, with the Nifty hovering near 23,771 levels, up around 0.5%, while the Sensex was holding close to 75,732.
Buying interest stayed concentrated in oil marketing companies, IT counters and select defence names after a series of earnings announcements, regulatory developments and global triggers moved individual stocks through the session.
Here are the top movers and shakers:
IT Stocks
IT stock prices extended their rally for the third straight session on May 19, with the Nifty Nifty IT index surging more than 4% intraday and gaining nearly 8% over three sessions.
Infosys rose over 4%, Tata Consultancy Services gained close to 3%, while HCL Technologies and Tech Mahindra climbed more than 3%. Wipro and Coforge also traded firmly higher through midday deals.
The rally was driven by a combination of factors. Weakness in the rupee improved earnings sentiment for export-oriented software firms, while bargain buying also emerged after the sharp correction witnessed in recent weeks.
Global cues remained supportive as US technology stocks continued to trade with strength. Traders also expect stable enterprise technology spending in the US market to support Indian IT services demand going forward.
Indian Oil
Indian Oil Corporation Ltd. share price surged nearly 3% on May 19 after the state-run refining major reported a sharp rise in March quarter earnings for FY26.
The company posted a 78% year-on-year jump in consolidated net profit to Rs 14,458 crore during Q4FY26, compared to Rs 8,123 crore in the corresponding period last year. The earnings growth was supported by stronger petroleum product income and improved operational performance despite supply chain disruptions during the quarter.
The market reaction remained positive because the numbers came materially ahead of expectations at a time when concerns around refining margins and global energy volatility continue to dominate the sector.
Puravankara
Puravankara share price rallied more than 15% on May 19 after the Bengaluru-based real estate company reported a sharp turnaround in Q4FY26 earnings.
Revenue for the March quarter jumped 173% year-on-year to Rs 1,541 crore from Rs 542 crore reported a year ago. The company attributed the rise primarily to higher handover of residential units during the quarter. Total handovers stood at 1,301 units against 671 units in the same period last year.
The company also moved back into profitability during the quarter. Net profit came in at Rs 117 crore compared to a net loss of Rs 111 crore reported in Q4FY25.
The scale of the revenue jump and recovery in bottom line triggered aggressive buying interest in the counter by midday.
Bharat Petroleum Corporation
Bharat Petroleum Corporation Ltd. share price advanced more than 3% on May 19 ahead of its March quarter earnings announcement later in the day.
The stock tracked gains across state-run oil marketing companies after Indian Oil reported stronger-than-expected quarterly earnings. Sentiment also improved after petrol and diesel prices were raised for the second time in less than a week.
Petrol prices in Delhi increased by 87 paise per litre to Rs 98.64, while diesel prices rose by 91 paise to Rs 91.58 per litre. Mumbai, Kolkata and other major cities also witnessed fuel price hikes.
The latest price revision strengthened expectations that marketing margins for OMCs may remain supportive in the near term.
Adani Group stocks
Adani Group stock prices traded in positive territory on May 19 after the US Department of Justice permanently dropped all criminal charges against Gautam Adani and Sagar Adani in the securities and wire fraud case in New York.
Adani Enterprises gained around 1.6% by midday, while Adani Green Energy moved up nearly 1%. ACC and Ambuja Cements also traded with gains during the session.
The development came days after multiple US regulatory investigations involving the group were settled or closed. The US Department of Justice, in its court filing, stated that it would not devote further prosecutorial resources toward the criminal charges.
Last week, the US SEC settled civil allegations linked to disclosures involving solar energy projects in India. Separately, the US Treasury Department’s OFAC also settled allegations linked to LPG imports involving the group.
The latest development removed a major overhang that had weighed on sentiment around Adani Group companies for months.
Apollo Micro Systems
Apollo Micro Systems Ltd. share price climbed more than 9% on May 19 after the defence and aerospace company reported strong March quarter earnings.
The company posted a 168.64% rise in consolidated net profit to Rs 37.61 crore during Q4FY26, compared to Rs 14 crore in the corresponding quarter last year.
Revenue from operations increased 81.28% year-on-year to Rs 293.25 crore from Rs 161.76 crore reported a year earlier. EBITDA rose 88% to Rs 67.64 crore, while EBITDA margin improved to 23% from 22%.
