Defense stocks add to their record rally last week. Select earnings movers include Delhivery that surged 10% in early trade.

Indian equity benchmarks opened on a subdued note on Monday, tracking weak global cues. 

By 9:50 a.m. IST, the Nifty 50 was flat at 25,017, while the Sensex was down 64 points at 82,266. 

Despite the cautious start, mid-cap and small-cap indices edged higher, reflecting underlying resilience. 

Sectoral action was largely positive except for IT and oil & gas, which saw mild weakness.

Meanwhile, retail sentiment on Stocktwits for the Nifty 50 remains ‘bullish’.

Nifty sentiment and message volume on May 19 as of 10:00 am IST. | source: Stocktwits

Defense stocks extended last week’s record rally, with Bharat Electronics rising 2% ahead of its earnings and following a fresh ₹572 crore order win. 

Zen Technologies and Data Patterns surged over 5% on strong Q4 results. Data Patterns even beat its FY25 revenue and margin guidance. 

Hindustan Aeronautics (HAL), however, declined 3% after issuing a conservative FY26 forecast.

Divi’s Laboratories jumped 4% on  strong show in fourth-quarter earnings driven by margin growth. 

Logistics company. Delhivery surged by 10% following the announcement of its first full-year net profit in FY24-25. The strong results were driven by sustained growth in its part-truckload (PTL) segment and enhanced operational efficiencies.

KEC International gained 2% after winning orders worth 1133 crore over the weekend.

Vodafone Idea fell 5% after warning of a potential shutdown by FY26 if it doesn't secure financial assistance.

Investors will monitor Power Grid, DLF, Gujarat Gas, IRB Infrastructure, Pfizer as they report quarterly numbers later in the day. 

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Prabhat Mittal pegged immediate support for the Nifty at 24,880 and resistance at 25,220, while he placed Bank Nifty support at 55,100 and resistance at 55,900.

A&Y Market Research sees Nifty (intraday) support between  24,746 and 24,811 with resistance at 25,187-25,238 . For the Bank Nifty, they peg resistance at  55,443-55,557 and support at  54,334-54,470.

Asian markets traded lower as a slew of Chinese economic data weighed on sentiment.

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