Why did the Nifty and the Sensex give away so much of its gains on 19 May Tuesday from the top?

After 3-straight sessions of losses, markets closed in the positive on Tuesday. However, the Nifty and Sensex failed to hold on to higher levels. The start of the day was Bharti Airtel which hit a lifetime high of Rs.603 during the day. Though the company reported a loss in the March quarter, the markets celebrated two things about Bharti results. Firstly, the loss was due to a one-time provision. Secondly, Bharti had gained more market share compared to Jio and had also substantially improved on its ARPU. Sensex 167 points higher on Tuesday. However, the Sensex was up nearly 730 points in early trades but gave up over 550 points from the peak as the macros continued to remain under pressure.