Indian equity markets witnessed a dramatic reversal on Friday, ending sharply lower after opening with strong gains, as investors turned cautious amid persistent geopolitical uncertainty surrounding the United States-Iran conflict and volatility in global commodity markets.

The Aam Aadmi Party (AAP) emerged as the dominant political force in Punjab’s civic body elections on Friday, securing victories in more than 860 wards out of the total 1,977 and maintaining leads in numerous other constituencies as vote counting continued across the state. The strong showing has been interpreted as a significant endorsement of the party’s governance model under Chief Minister Bhagwant Mann and national convenor Arvind Kejriwal.

Indian equity markets closed lower on May 27 as investors turned cautious amid global geopolitical concerns, rising crude oil prices, and selective profit booking in heavyweight sectors. Benchmark indices witnessed volatile trading throughout the session, reflecting uncertainty across international markets and mixed domestic sentiment. Banking, information technology, and auto stocks faced selling pressure, while selective buying in energy and defensive sectors helped limit broader losses.

India’s toll road industry is expected to witness moderated growth during FY27 as geopolitical tensions in West Asia and softer commercial vehicle movement weigh on traffic volumes. A recent assessment by Crisil Ratings projects toll collection growth to ease to 5-7 percent year-on-year, compared with stronger momentum in the previous fiscal period. The slowdown is primarily linked to weaker industrial activity, freight transportation, and construction demand.

Byju’s founder Byju Raveendran has suffered a significant legal setback after a Singapore court sentenced him to six months in jail for contempt of court linked to alleged non-compliance with disclosure directives. The ruling adds to mounting pressure on the once high-flying edtech company, which has been grappling with investor disputes, debt-related litigation, and operational instability following a sharp slowdown in growth after the pandemic-era boom.

HDFC Bank shares came under pressure on Wednesday after a media report alleged that the private sector lender made irregular payments to secure large deposits from the Maharashtra State Road Development Corporation (MSRDC). The report claimed the bank offered an interest rate exceeding prevailing market terms in an effort to attract deposits worth Rs. 25,000 crore tied to a land acquisition fund. Investors reacted sharply to the allegations, sending the stock lower amid concerns about governance standards, regulatory scrutiny, and reputational risk.

State-run power major NTPC reported a sharp rise in fourth-quarter earnings, posting a consolidated net profit of Rs.10,614.95 crore for FY26, reflecting growth of more than 34 percent compared with the previous year. The strong profitability came despite a slight decline in total income, indicating improved operational efficiency and tighter cost management. As India’s energy demand continues to expand alongside industrial and infrastructure growth, NTPC’s financial performance reinforces its strategic role in the country’s power sector.

State-owned Life Insurance Corporation of India (LIC) has emerged as the most profitable company in India’s financial sector for the March quarter, reporting net earnings exceeding Rs.23,400 crore. The insurer also retained its position as the highest profit-generating Central Public Sector Enterprise during the fourth quarter of FY26. LIC’s strong quarterly performance reflects resilient premium growth, stable investment income, and sustained market dominance in India’s insurance industry.

Indian equity markets recovered strongly as benchmark indices closed higher following renewed buying interest in banking and blue-chip stocks amid improving global market sentiment. The rebound was supported by optimism surrounding potential progress in US-Iran diplomatic discussions, easing concerns over geopolitical tensions and energy market volatility. The benchmark Sensex advanced nearly 232 points, while the Nifty posted moderate gains led by private banking, financial services, and select consumer-focused companies.

Indian Oil Corporation has reassured consumers that India is not facing any nationwide shortage of petrol or diesel despite temporary disruptions reported at a limited number of fuel stations. The company attributed isolated supply pressures to sharply rising seasonal demand, customer migration from private fuel retailers, and increased institutional purchases at public sector outlets. According to the company, petrol demand rose approximately 14 per cent year-on-year during May 1-22, while diesel consumption increased nearly 18 per cent.