Indian equity markets closed with modest losses on May 19th as the Sensex declined 114.19 points to 75,200.85 and Nifty dipped 31.95 points to 23,618. Despite the slight pullback, markets maintained a positive bias supported by easing geopolitical tensions following reports of potential U.S. delays in military action against Iran. Institutional buying from both foreign and domestic investors continued to stabilize sentiment after recent corrections. Analysts note the market is consolidating with strong support at 23,500-23,300 and resistance at 23,800-24,000. The rupee weakened to 96.53 per dollar amid external headwinds, while gold gained 419 points. Crude oil rose 48 points to 9,972. Volatility is expected ahead of weekly expiry as the Nifty remains range-bound pending decisive moves above resistance or below support levels.
