Good morning, I’m filling in for Spencer Jakab. Stocks appear headed for a muted open after yesterday’s strong showing. Another record quarter for Nvidia failed to excite investors, plus there was a slew of news about blockbuster IPOs from SpaceX and OpenAI. Oil prices edged lower after yesterday’s big slide on renewed hopes for an end to the Iran war. Treasury yields are subdued although they remain at elevated levels.

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One 97 Communications, which operates the Paytm fintech platform, Ashok Leyland and CG Power and Industrial Solutions have replaced Ambuja Cements, Tube Investments of India and Colgate-Palmolive (India) in the BSE 100 index. The reshuffle is part of the latest reconstitution of the benchmark index, which tracks the top 100 listed companies in India based on market capitalisation and liquidity.
The changes to the index became effective today, a BSE Index Services Private Limited, release said.

Ambuja Cements is part of the Adani Group and its shares have fallen over 23% in the past one year. Meanwhile Murugappa Group-backed Tube Investments shares were up nearly 1% in this period. In contrast, Paytm has risen 34% while Ashok Leyland rose 33%.

CG Power which has displaced Colgate-Palmolive has delivered 24% returns in the same period while the latter’s price has eroded 13%.

Among other changes, BSE Sensex 50 has a new entrant in TVS Motor Company, dislodging Adani Enterprises.

The reconstitution of BSE Sensex Next 50 saw multiple changes ahead of its June 22, 2026 implementation. Adani Enterprises, Ashok Leyland, One 97 Communications and CG Power and Industrial Solutions were added to this index, replacing TVS Motor Company, Ambuja Cements, Colgate-Palmolive and Tube Investments, respectively.
Meanwhile, in the BSE Focused IT index, L&T Technology Services was included while Cyient Limited was removed as part of the latest index reshuffle announced by BSE Index Services.
Domestic stock markets ended higher on Friday though the gains were capped amid strong selling pressure in pharma & health stocks while financials helped bulls to ride the tide. While Nifty gained 64.60 points or 0.27% to close at 23,719.30, the BSE Sensex settled at 75,415.35, up 231.99 points or 0.31%.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

CHARLOTTE, N.C. — Kyle Busch, a two-time NASCAR Cup Series champion and one of the most decorated drivers in the sport’s history, died unexpectedly at age 41.

Busch’s family announced earlier on May 21, 2026, that he would miss Sunday’s race in Charlotte after being hospitalized with a “severe illness.” Five hours later, the news of his death was confirmed.

The announcement came one week after Busch earned his final victory in the Truck Series race at Dover Motor Speedway.

NASCAR has not yet released an official cause of death. The two-time champion’s passing marks the first death of an active Cup Series driver since Dale Earnhardt in 2001.

Busch leaves behind a remarkable racing career that spanned more than two decades. He won the Cup Series championship in 2015 and 2019, secured 63 career Cup victories, and amassed more than 200 wins across NASCAR’s three national series.

His final win came in the Truck Series at Dover on May 14, 2026. That performance was widely regarded as a strong showing in what would become his last race.

Busch was known for his aggressive driving style, versatility across different series, and success in both short tracks and superspeedways. He drove for prominent teams including Hendrick Motorsports, Joe Gibbs Racing, and Richard Childress Racing during his career.

The driver’s wife, Samantha Busch, and their son Brexton have not issued additional public statements beyond the initial family announcement regarding his hospitalization and passing.

NASCAR community members expressed shock and sadness following the news. Tributes began appearing across social media and racing forums as word spread.

Busch’s death is the second major loss in NASCAR in recent months. Greg Biffle died in a plane crash in December 2025.

The sport last experienced the loss of an active Cup driver when Dale Earnhardt was killed in a crash on the final lap of the 2001 Daytona 500. NASCAR President Mike Helton delivered the announcement at that time, stating, “We’ve lost Dale Earnhardt.”

Similar sentiments of disbelief have circulated among fans and industry figures following Busch’s passing.

Busch began his NASCAR career in the early 2000s and quickly established himself as a top competitor. He earned the nickname “Rowdy” for his intense on-track persona and willingness to make bold moves.

Throughout his career, Busch drove full-time in the Cup Series while also competing regularly in the Xfinity and Truck Series, where he holds numerous records.

He was particularly successful at short tracks and intermediate ovals. His 63 Cup wins rank him among the all-time leaders in the sport.

Busch’s championship in 2015 came during a dominant season with Joe Gibbs Racing. He followed that with another title in 2019, cementing his legacy as one of the modern era’s greatest drivers.

The driver was hospitalized on May 21 with what the family described as a severe illness. No further medical details were released before the announcement of his death.

NASCAR has scheduled a race in Charlotte this weekend. It remains unclear how the series will address Busch’s passing during the event.

Tributes from fellow drivers, team owners, and fans have poured in since the news broke. Many highlighted Busch’s competitive spirit and dedication to the sport.

Busch is survived by his wife Samantha and son Brexton. The family has requested privacy during this time.

The NASCAR community continues to process the sudden loss. Busch’s final Truck Series victory at Dover now stands as his last on-track accomplishment.

The sport has not seen the death of an active champion-level driver in nearly 25 years. The news has prompted widespread reflection on safety, health, and the physical demands placed on competitors.

Further details regarding memorial plans or NASCAR’s official response are expected in the coming days.

Busch’s impact on the sport extended beyond his wins. He was known for mentoring younger drivers and contributing to the growth of the Truck Series through his own team ownership efforts in previous years.

As the racing world mourns, tributes continue to highlight both his on-track achievements and his larger-than-life personality.

The unexpected nature of his passing has left fans and fellow competitors struggling to comprehend the loss of one of NASCAR’s most prominent figures.

LOS ANGELES — Luka Doncic will not represent Slovenia in the FIBA World Cup Qualifiers this summer, prioritizing rehabilitation from a hamstring injury and time with his two daughters.

NBA insider Marc Stein reported on May 21, 2026: “Sources close to Lakers star Luka Doncic have reiterated to @TheSteinLine that nothing has changed from his recent statement below: He is not playing for his national team this summer in FIBA World Cup qualifying to spend as much of his offseason as possible with his daughters.”

The 27-year-old guard missed the Lakers’ second-round playoff series against the Oklahoma City Thunder due to the hamstring injury. Los Angeles was swept in the series.

Doncic spent the previous offseason improving his conditioning. This summer he will focus on recovering from the injury that sidelined him during the postseason.

He has consistently represented Slovenia in international competitions. In the 2025 EuroBasket, he led the tournament in scoring with 34.7 points per game and was named to the All-Tournament Team. Slovenia was eliminated in the quarterfinals.

Doncic is currently involved in a custody battle with his former fiancée, Anamaria Goltes, over their two daughters. The couple got engaged in 2023 and separated in March 2026.

The Lakers were eliminated in the second round of the 2026 playoffs. The team needed Doncic’s presence but he was unable to return in time.

Doncic has not made additional public comments beyond the statement relayed through sources. He is expected to focus on rehabilitation and family time during the offseason.

The six-time All-Star averaged strong numbers during the regular season before the injury. His absence was a significant factor in the Lakers’ early playoff exit.

Slovenia’s FIBA World Cup Qualifiers are scheduled for July. Doncic’s decision leaves the national team without its leading scorer.

The guard’s commitment to family comes amid ongoing personal matters. He has emphasized spending time with his daughters this summer.

Doncic joined the Lakers in a major trade earlier in the 2025-26 season. His partnership with LeBron James created high expectations for the franchise.

The hamstring injury occurred late in the regular season. Recovery timelines for such injuries vary depending on severity.

The Lakers have not issued further statements on Doncic’s summer plans. The organization is expected to support his rehabilitation process.

Doncic’s international career has included multiple appearances for Slovenia since his teenage years. His absence from the qualifiers marks a departure from previous commitments.

As the NBA offseason begins, Doncic’s focus remains on returning healthy for the 2026-27 season. The Lakers will look to build around him and James.

No specific timeline for his return to full basketball activities has been provided. Medical updates will likely come through the Lakers.

The custody situation with his daughters continues. Details remain private, but the family matter influences his summer schedule.

Doncic’s decision prioritizes personal recovery and family responsibilities. He aims to be fully prepared for the upcoming NBA season.

The basketball community continues to monitor his progress. Fans and analysts await updates on his health and future plans with the Lakers.

NEW YORK — An Air India Airbus A320 operating as Flight AI2802 from Bengaluru to Delhi declared a full emergency on Thursday night, May 21, 2026, after the cockpit crew received an alert indicating a possible engine fire.

The aircraft, carrying 171 passengers, landed safely at Delhi’s Indira Gandhi International Airport. Air India confirmed the incident and stated it is investigating the cause of the engine fire alert.

The flight was approaching Delhi when the alert occurred. The crew followed standard emergency procedures, and the plane touched down without further incident. No injuries were reported among passengers or crew.

This event marks the second safety incident involving an Air India aircraft within a single day. Earlier on May 21, another Air India plane suffered a tailstrike while landing in Bengaluru. Details of that incident, including the aircraft type and extent of damage, were not immediately released by the airline.

Air India has not provided additional specifics about the engine fire alert on Flight AI2802, such as which engine triggered the warning or whether smoke or flames were visible. The airline emphasized that the aircraft landed safely and all passengers disembarked normally.

The Directorate General of Civil Aviation (DGCA), India’s aviation regulator, is expected to review both incidents. Air India stated it is cooperating fully with authorities.

Flight AI2802 was an Airbus A320, a narrow-body aircraft commonly used for domestic routes in India. The A320 family has a strong safety record overall, though individual incidents are investigated thoroughly.

Air India, now part of the Tata Group, has been undergoing a major fleet modernization and operational improvement program in recent years. The airline operates both domestic and international flights with a mix of Airbus and Boeing aircraft.

Passengers on Flight AI2802 were not immediately available for comment. No videos or photos from inside the cabin during the emergency have surfaced publicly.

The back-to-back incidents have drawn attention to Air India’s operations. The airline has faced scrutiny in the past over safety and maintenance standards, though it has worked to improve its reputation following privatization.

India’s aviation sector has grown rapidly, becoming one of the world’s busiest domestic markets. Increased flight volumes have placed pressure on airlines, airports and regulators to maintain high safety standards.

The DGCA requires airlines to report all significant safety events. Investigations into engine fire alerts typically examine sensor data, engine performance logs and maintenance records.

No official cause has been determined for the May 21 engine alert. Technical crews at Delhi likely performed detailed inspections after the landing.

Air India operates hundreds of daily flights across India and internationally. Thursday’s incidents represent a rare occurrence of two events on the same day.

The tailstrike in Bengaluru involved an aircraft landing, a maneuver where the tail section contacts the runway. Such incidents can cause structural damage but are often survivable if handled correctly by the crew.

Air India has not released the flight number or aircraft details for the Bengaluru tailstrike as of May 22. Both events are under review.

Aviation safety experts note that emergency declarations, while serious, are designed to ensure the highest level of preparedness from ground services. Fire trucks and emergency personnel typically stand by during such landings.

Passengers on Flight AI2802 were reportedly calm during the final approach. The safe landing prevented what could have been a more serious situation.

This is not the first time Air India has faced emergency landings. In 2024 and 2025, the airline experienced several technical incidents that drew media attention.

The Tata Group has invested heavily in modernizing Air India’s fleet and training programs since acquiring the carrier. New aircraft deliveries and enhanced maintenance protocols are part of the long-term plan.

As of May 22, 2026, both aircraft involved in Thursday’s incidents remain grounded for inspections. Air India is working to minimize disruptions to its schedule.

The DGCA has not issued any immediate operational restrictions on Air India. Routine safety audits continue across the industry.

Aviation incidents in India are monitored closely due to the country’s large and growing air travel market. The Ministry of Civil Aviation oversees regulatory compliance.

No passengers or crew required medical attention after the Delhi landing. The airline provided standard support services to those on board.

Air India’s statement on the incident was brief: “Flight AI2802 from Bengaluru to Delhi landed safely following an engine fire alert. The airline is investigating the matter.”

Further updates are expected as the investigation progresses. The DGCA typically releases preliminary findings within days or weeks for significant events.

The dual incidents on May 21 have prompted discussions about airline maintenance practices and pilot training. However, no official conclusions have been reached.

Air India continues normal operations on most routes. Passengers are advised to check flight status for any potential delays related to aircraft inspections.

The safe resolution of Flight AI2802 prevented potential harm to 171 people on board. Emergency procedures functioned as designed.

India’s aviation regulator maintains strict oversight. All commercial aircraft undergo regular maintenance checks in accordance with international standards.

The events of May 21 serve as a reminder of the importance of robust safety protocols in commercial aviation. Both incidents are under active review by authorities and the airline.

NEW YORK — The Dow Jones Industrial Average climbed 356.34 points, or 0.71%, to a record close of 50,642.00 on Thursday, May 21, 2026, as technology shares advanced and investors grew more confident about the Federal Reserve’s path for interest rates.

The blue-chip index surpassed the 50,000 milestone for the first time in afternoon trading and held gains into the close. It was the Dow’s strongest daily percentage gain in more than three weeks.

Gains were led by technology and industrial components. IBM rose more than 3.8% after positive sector momentum from quantum computing funding news. Other Dow members including Goldman Sachs, UnitedHealth and Caterpillar contributed to the advance.

The S&P 500 rose 0.52% and the Nasdaq Composite gained 0.68%. The broader market rally reflected relief after recent volatility tied to oil prices and geopolitical developments.

Bond yields eased slightly. The 10-year Treasury yield fell to around 4.35%, reducing pressure on rate-sensitive sectors. Investors priced in a higher probability of Federal Reserve rate cuts later in 2026.

Oil prices moderated after earlier gains. Brent crude settled near $78 per barrel, easing inflation concerns that had weighed on markets earlier in the week.

The session followed mixed economic data. Initial jobless claims and manufacturing indicators came in largely as expected, supporting the view that the economy remains resilient without overheating.

Technology stocks benefited from renewed optimism around artificial intelligence and quantum computing. The sector has been a key driver of the Dow’s climb toward the 50,000 level in recent months.

The Dow Jones Industrial Average, which tracks 30 large U.S. companies, has now gained more than 12% year-to-date. It first approached the 50,000 mark in April 2026 before pulling back on inflation worries.

Analysts noted strong corporate earnings as a supporting factor. Several major companies reported results that beat expectations in recent weeks, boosting investor confidence.

Trading volume was above average as the Dow crossed the psychological 50,000 barrier. Market participants celebrated the milestone on trading floors and social media.

The record close came despite ongoing geopolitical tensions in the Middle East. Investors appeared to focus more on domestic economic signals and corporate performance than on international risks.

Federal Reserve officials have signaled caution in recent speeches but left the door open for rate adjustments if inflation continues to moderate. Markets now price in two to three rate cuts by the end of 2026.

Sector performance was mixed but tilted positive. Energy stocks lagged as oil prices eased, while financials and consumer discretionary names posted solid gains.

International markets showed varied results. European indices closed higher, while Asian markets were mixed in overnight trading. The U.S. dollar strengthened modestly against major currencies.

Gold prices dipped slightly as risk appetite improved. Bitcoin and other cryptocurrencies traded with modest gains amid broader market optimism.

The Dow’s composition favors established industrial and financial companies, making its record less dependent on high-growth tech names than the Nasdaq. Still, technology exposure through companies like IBM helped drive the session.

Year-to-date, the Dow has outperformed some expectations as the economy has avoided recession fears. Corporate America has shown resilience despite higher interest rates for much of the past two years.

Economists continue to monitor consumer spending, housing data and manufacturing trends. The upcoming Memorial Day weekend is traditionally a key period for retail and travel activity.

No major corporate earnings were scheduled for release after the market close on May 21. Focus now shifts to next week’s data releases, including revised GDP figures and personal consumption expenditures.

The milestone crossing of 50,000 has drawn comparisons to previous Dow records. The index first hit 1,000 in 1972, 10,000 in 1999, 20,000 in 2017 and 30,000 in 2020. The rapid climb above 40,000 and now 50,000 reflects strong post-pandemic recovery.

Market strategists cautioned that record highs do not guarantee continued gains. Valuations remain elevated in some sectors, and external risks such as trade policy and geopolitical events could influence future direction.

The Dow’s performance on May 21 underscored investor confidence in U.S. corporate strength. As the trading week concludes, attention turns to whether the momentum can carry into the holiday-shortened week ahead.