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Stock Market Highlights:: Sensex ends over 1,400 points down, goes below 74,500, Nifty50 closes at 23,380 as oil prices soar, rupee weakens to record low
Stock Market Highlights: Nifty50 and BSE Sensex ended in deep red on Tuesday on weak global cues and rising crude oil prices. Anal...
Stock Market Highlights: Nifty50 and BSE Sensex ended in deep red on Tuesday on weak global cues and rising crude oil prices. Analysts are of the view that stock market benchmarks Nifty50 and BSE Sensex may continue to trade cautiously in the near term as geopolitical tensions intensify, while stock-specific and sector-driven movements are likely to dominate amid the concluding phase of the Q4FY26 earnings season.
Crude oil prices continue to remain high and above $100 per barrel levels as the US-Iran conflict continues. Crude oil prices rose in early Asian trade on Tuesday as negotiations between Washington and Tehran appeared fragile. Iran’s response to the US proposal underscored deep differences between the two sides, keeping concerns over supply disruptions alive.
Where are Sensex and Nifty headed in the near-term? Track TOI’s live coverage on the stock market to track the top gainers and losers, and expert opinion:
The rupee weakened by 35 paise to settle at a record closing low of 95.63 (provisional) against the US dollar on Tuesday as escalating tensions between the United States and Iran triggered a risk-off mood across global financial markets.
According to forex market participants, investor sentiment continued to remain under pressure amid concerns that the conflict, now stretching into its 10th week, could further disrupt global supplies. The worries intensified after US President Donald Trump dismissed Tehran’s latest reply to a US-supported peace proposal as “totally unacceptable.”
Traders also viewed Prime Minister Narendra Modi’s recent remarks on conserving fuel and reducing imports as an indication that India’s trade deficit and balance-of-payments situation could come under greater strain if crude oil prices stay elevated for an extended period.
In the interbank foreign exchange market, the rupee opened at 95.57 against the dollar and later slipped further to hit a fresh lifetime intraday low of 95.74 versus the US currency.
On the weekly expiry day, the benchmark index Nifty witnessed a sharp and broad-based correction, indicating heightened selling pressure across the market. The index opened with a significant gap-down, setting a negative tone right from the start, and continued to drift lower throughout the session by consistently forming lower highs and lower lows. The intensity of selling further increased during the final hour of trade, leading to a steep decline. Eventually, Nifty closed below the crucial 23400 mark, registering a substantial loss of 1.83%, marking its steepest single-day fall since March 30, 2026.
From a technical standpoint, the index is currently trading comfortably below its key short and long term moving averages, reflecting a weakening trend structure. The daily RSI has slipped below 40 mark and is trending downward, indicating diminishing strength and rising bearish momentum. Additionally, the fast stochastic line remains below the slow stochastic line, reinforcing the negative bias and suggesting that the momentum continues to favour the bears.
Among the Nifty constituents, ONGC and Hindalco managed to buck the trend and emerged as top gainers, providing limited support to the index. On the other hand, Shriram Finance and Tech Mahindra were among the major laggards. Notably, all sectoral indices ended the session in the red, highlighting the broad-based nature of the sell-off. Nifty Realty, Nifty IT, and Nifty Consumer Durables were the worst-performing sectors, witnessing sharp declines.
The broader markets mirrored the weak sentiment seen in frontline indices. The Nifty Midcap 100 and Nifty Smallcap 100 indices declined sharply by 2.54% and 3.17%, respectively, marking one of the steepest single-day declines in recent times. Market breadth remained extremely negative, with the Advance/Decline ratio heavily skewed towards decliners. Within the Nifty 500 universe, as many as 463 stocks closed in the red, clearly reflecting the dominance of selling pressure across the broader market space, says Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.
15:46
(IST), May, 12
Nifty Today Live: Bear grip tightens
"The index has continued to decline as bears tighten their grip on the Indian market. Nifty has further broken away from its recent consolidation range, indicating rising weakness in the trend. The RSI continues to remain in a bearish crossover and is trending lower, reflecting sustained negative momentum. Overall sentiment appears extremely bearish, with the potential to drag the index towards 23,200–23,150 in the near term, from where a meaningful recovery might come. On the higher side, resistance is placed at 23600, above which sentiment might improve,” says Rupak De, Senior Technical Analyst at LKP Securities.
15:36
(IST), May, 12
Stock Market Live Today: Rupee at record low hits Sensex, Nifty
"Domestic equities remained under pressure, with the rupee weakening to record lows amid rising crude oil prices linked to escalating tensions in West Asia along with FII outflows. The decline was broad-based, led by IT and realty stocks. IT stocks underperformed as concerns grew around AI-driven pricing pressure and potential disruption following recent enterprise adoption initiatives by OpenAI.
Investors are also awaiting the upcoming domestic CPI data to assess the spillover impact of the ongoing US–Iran conflict. Near-term market sentiment is likely to stay volatile due to crude and currency concerns, though any signs of geopolitical easing could support relief rallies, aided by resilient domestic fundamentals and stable institutional flows,” says Vinod Nair, Head of Research, Geojit Investments Limited.
15:36
(IST), May, 12
Stock Market Live Today: Sensex, Nifty50 end over 1.5% down
Stock market crash: Nifty50 ended the day at 23,429.55, down 386 points or 1.62%. BSE Sensex dropped below 74,600 to close at 74,559.24, down 1,456 points or 1.92%.
With an over 1% decline for two consecutive days, stock market indices Nifty50 and BSE Sensex continue to crash. At 12:54 PM, Nifty50 was trading at 23,517.45, down 298 points or 1.25%. BSE Sensex was at 74,980.86, down 1,034 points or 1.36%.
12:47
(IST), May, 12
Stock Market Live Today: SBI Securities Mid-Market Index View
The frontline indices weakened further below their respective 100-day EMAs while India VIX gains for the third consecutive session.
Coming back to Nifty, the zone of 23460-23480 will act as a crucial support for the index while the resistance lies in the zone of 23710-23730.
On the downside, if the index slips below the level of 23460 then the next support is placed in the zone of 23200-23100.
In an event of a surge above 23730, the index can experience an extension of the rally towards 23930.
On the options front, meaningful call writing witnessed across 23600 & 23700 strikes. On the put side, 23500 has a substantial open interest, followed by 23400 strike.
Nifty's Advance Decline Ratio is at 10:40. Nifty's PCR is currently at 0.50.
Speaking of Sensex levels, support is at 74,800 while resistance is at 75,600.
12:01
(IST), May, 12
Stock Market Live Today: ONGC share rise around 6%
Shares of Oil and Natural Gas Corporation surged as much as 6% on Tuesday, touching an intraday high of Rs 298 on the BSE, after Hong Kong-based brokerage CLSA described the government’s decision to lower upstream royalty rates as a major positive development for the state-owned explorer as well as the broader upstream oil and gas industry.
In an unexpected policy move, the government cut royalty rates on crude oil and natural gas production. According to CLSA, the reduction could lift ONGC’s fair valuation by 7-9%, while the valuation of Oil India may increase by 9-11%. Following the announcement, Oil India shares also climbed 7.5% to hit an intraday high of Rs 491.
The brokerage continues to maintain a ‘High Conviction Outperform’ stance on ONGC, assigning a target price of Rs 405, which implies a potential upside of 44.4% from current levels.
CLSA noted that the move is important not only because it directly improves earnings prospects, but also because it helps ease market concerns over the possibility of another windfall tax similar to the one introduced in 2022.
The brokerage added that fears of increased taxation on upstream companies had significantly weighed on investor sentiment toward ONGC and Oil India, leaving them among the worst-performing upstream energy stocks globally.
12:00
(IST), May, 12
Stock Market Live Today: JSW Energy shares drop
Shares of JSW Energy tumbled as much as 8% on Tuesday, touching an intraday low of Rs 512 on the BSE, despite the company reporting a strong rise in quarterly earnings.
For the March quarter, the company posted a consolidated net profit of Rs 574 crore, reflecting a 38% jump compared with Rs 414 crore reported in the corresponding quarter last year.
Revenue from operations registered robust growth of 41% year-on-year, climbing to Rs 4,499 crore in Q4FY26 from Rs 3,189 crore in the year-ago period. The board also recommended a dividend of Rs 2 per equity share and set Friday, June 5, as the record date to determine eligible shareholders for the payout.
On a quarter-on-quarter basis, profit after tax increased 8% from Rs 529 crore recorded in Q3FY26. Revenue also rose 10% sequentially from Rs 4,082 crore posted during the October-December quarter.
Meanwhile, total expenses for the quarter came in at Rs 4,666 crore, compared with Rs 4,366 crore in the preceding quarter and Rs 3,142 crore in the same period last year. This represented a 7% rise sequentially and a 48% increase on an annual basis.
The higher expenditure was mainly attributed to rising fuel costs, increased employee-related expenses and higher finance costs, among other factors.
11:02
(IST), May, 12
Stock Market Live Today: Sensex, Nifty plunge further
Stock market today: Nifty50 and BSE Sensex continued their declining spree in trade on Tuesday. While Nifty50 went below 23,700, BSE Sensex tanked over 800 points. At 11:00 AM, Nifty50 was trading at 23,613.65, down 202 points or 0.85%. BSE Sensex was at 75,226.72, down 789 points or 1.04%.
10:11
(IST), May, 12
Stock market live today: Sensex falls over 600 points, Nifty50 dips below 23,700
Indian equity benchmarks dipped in red in early trade. While BSE Sensex was trading at 75,327.61, down 687.67 points or 0.90%, NSE Nifty50 reached 23,642.65, down 182.10 points or 0.76%.
09:32
(IST), May, 12
Stock Market Live Today: Stock market outlook
"The austerity call by the prime minister impacted the stock prices of sectors which are expected to be negatively affected by reduced consumption. Stocks of sectors like jewellery, travel and hotels bore the brunt of selling yesterday. It is important to understand that these sectors will bounce back smartly if crude falls sharply and the austerity package becomes irrelevant. Therefore, watch out for the West Asia geopolitical situation and crude prices.
Meanwhile, sectors which are not impacted by the austerity appeal will remain resilient. Pharmaceuticals is the segment which is not impacted at all since the sector has inelastic demand. Additionally, it gains from rupee depreciation. FMCG also will be least impacted. One sector to watch out for is capital goods. There are clear signs of recovery in capital formation as indicated in the 67% spurt in private capex in September last year. This positive news has been drowned in the flood of negative news. If this private capex cycle is to sustain, the capital goods stocks will do well. Demand in sectors like automobiles and renewable energy continues to be buoyant supporting capex in these sectors,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Stock market today: Nifty50 and BSE Sensex tanked in opening trade on Tuesday continuing their decline. While Nifty50 went below 23,800, BSE Sensex dropped over 300 points. At 9:16 AM, Nifty50 was at 23,733.40, down 82 points or 0.35%. BSE Sensex was at 75,641.50, down 374 points or 0.49%.
09:12
(IST), May, 12
Nifty Today Live: Technical outlook weak
"Indian equity markets are expected to open on a cautious negative note, with Gift Nifty trading at 23,650, down by 136 points. Global equities traded mostly firmer after mild gains on Wall Street, where the S&P 500 and Nasdaq touched fresh record highs. However, elevated crude oil prices and persistent geopolitical concerns continued to cap overall market sentiment.
In the previous session, The Nifty 50 remained under selling pressure and declined 1.5 percent on May 11, extending losses for the third consecutive session. Despite the weakness, the index managed to defend the lower end of the broader 23,800–24,500 trading range. Market participants continue to closely monitor developments related to the US-Iran deal, which remains a key trigger for sentiment.
Technically, the Nifty formed a sizeable bearish candle on the daily chart after a gap-down opening, indicating increasing dominance of bears. The index slipped decisively below the 23.6 percent Fibonacci retracement level of the April rally and continued to trade below all key short-term and long-term moving averages, reflecting deterioration in the broader structure.
Momentum indicators weakened significantly. The RSI dropped to 46.11, indicating fading strength, while the MACD witnessed a bearish crossover with the histogram bar turning red for the first time since April 2. These indicators suggest increasing bearish momentum and weakening market participation.
As long as the index sustains above the crucial 23,555support zone, the possibility of a technical rebound toward 24,000–24,100 remains open in the near term. However, any decisive breakdown below 23,555 could intensify selling pressure and drag the index toward the crucial support level of 23,350.
Derivatives data reflects a weakening undertone in the market. The Nifty Put-Call Ratio (PCR) declined sharply to 0.76 on May 11 from 0.93 in the previous session, indicating rising caution among traders and increasing call writing activity at higher levels. India VIX, the market volatility gauge, surged 10.17 percent to 18.55, signalling rising discomfort for bulls amid heightened uncertainty. Analysts believe that a move above the 20 mark could increase downside risks further, while a decline below 17 would be necessary for bulls to regain confidence.
Option chain positioning indicates strong support near the 23,800-23700 strike due to put writing activity, while aggressive call writing was visible in the 24,000–24,200 zone, suggesting resistance at higher levels and continuation of the prevailing bearish bias. The Nifty Bank also witnessed sharp weakness and declined 1.57 percent with above-average volumes, extending losses for the second straight session. The banking index formed a bearish candle on the daily timeframe and continued to trade below all key moving averages, indicating sustained weakness in the sector.
The banking index also slipped below the 23.6 percent and 38.2 percent Fibonacci retracement levels of the April rally, further confirming weakness in the broader trend. Momentum indicators remained bearish, with RSI falling to 43.74, while the MACD stayed below both the signal and zero lines with expansion in negative histogram bars.
Immediate support for Bank Nifty is placed around 53,750–53,300, while resistance is seen near 55,000–55,300. A sustained move above resistance levels will be required to stabilise sentiment in the banking space.
Overall, the technical setup suggests a weak and volatile start for the market amid rising geopolitical tensions, elevated volatility, and weakening momentum indicators. While the 23,555 level remains a crucial near-term support for Nifty, a decisive breakdown below this zone could trigger further downside pressure in the coming sessions,” says Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.
08:58
(IST), May, 12
Stock Market Live Today: Oil prices continue to rise
Oil prices moved higher in early Asian trading on Tuesday as uncertainty surrounding negotiations between the United States and Iran continued to keep supply concerns in focus. Tehran’s response to the latest American proposal underscored major differences between the two sides, casting doubt over efforts to end the ongoing conflict.
Brent crude futures climbed 30 cents, or 0.29%, to $104.51 a barrel, while US West Texas Intermediate crude gained 31 cents, or 0.32%, to $98.38 per barrel as of 0002 GMT. Both benchmark contracts had already advanced nearly 2.8% during Monday’s session.
US President Donald Trump said on Monday that the ceasefire arrangement with Iran was “on life support,” citing disagreements over several key issues. These included demands related to halting hostilities across all fronts, lifting the US naval blockade, restoring Iranian oil exports and compensation for war-related damage.
Iran also reiterated its authority over the Strait of Hormuz, a critical route through which roughly one-fifth of the world’s oil and liquefied natural gas supplies pass.
Tim Waterer, chief market analyst at KCM Trade, said that crude prices are likely to remain above the $100 mark as long as US-Iran negotiations remain unresolved and movement through the Strait of Hormuz continues to face restrictions.
08:11
(IST), May, 12
Sensex Today Live: Top stocks to buy or sell today
Stock market recommendations: Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan has picked Max Healthcare Institute, and Coal India as the top stocks to buy today (May 12, 2026). AU Small Finance Bank is a sell call from the analyst. Take a look at target prices and stop loss:
07:57
(IST), May, 12
Nifty Today Live: Bajaj Broking Bank Nifty Outlook
Index formed a bearish candlestick pattern with a lower high and a lower low signaling extension of the decline for the second session in a row. PSU banking stocks underperformed for the second session in a row. Bank Nifty is currently placed around the lower band of the last 3 weeks range 54,000-56,500. A breakdown below the same will open further downside towards 52,500 levels in the coming sessions. While holding above 54,000 on a closing basis will signal extension of the recent consolidation. On the higher immediate resistance is placed at Monday’s gap down area of 55,000-55,065. Index sustaining below the same will keep the bias down.
07:57
(IST), May, 12
Sensex Today Live: Where is Sensex headed?
From a technical standpoint, the sharp decline has weakened the near-term market structure, with the index slipping below important short-term support zones. Immediate support is now placed in the 74,700–75,000 zone, which may act as a crucial demand area in the coming sessions. On the upside, resistance is seen around 77,100–77,300, where recovery attempts are likely to face selling pressure and profit booking.
The near-term outlook remains cautious to negative, as persistent geopolitical uncertainty and weak sentiment continue to weigh on the market. Although some stability may emerge near support levels, volatility is expected to remain elevated. A sustained recovery above resistance levels will be required to improve the short-term outlook, while failure to hold support could trigger further weakness, says Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited.
07:57
(IST), May, 12
Stock Market Live Today: Rupee closed at all-time low on Monday
The rupee plunged by 79 paise on Monday to close at an all-time low of 95.28 against the US dollar after US President Donald Trump dismissed Iran’s response to the proposed West Asia peace framework, triggering a sharp spike in crude oil prices.
Investor sentiment weakened further following Prime Minister Narendra Modi’s call urging citizens to avoid purchasing gold and adopt austerity measures. Forex traders said the domestic currency also came under pressure from a stronger US dollar and heavy foreign fund outflows.
In the interbank forex market, the rupee opened at 94.97 against the greenback and moved between 94.87 and 95.34 during the session. It eventually ended at a record closing low of 95.28 per dollar, marking a decline of 79 paise from the previous close.
The rupee had settled at 94.49 against the US currency on Friday.
Earlier, the local currency had touched its previous record closing low of 95.23 on May 4, while its weakest intraday level of 95.44 was recorded on May 5.
07:56
(IST), May, 12
Nifty Today Live: Bajaj Broking Nifty Outlook
Index formed a sizable bearish candlestick pattern with a lower high and a lower low and a bearish gap above its head (24,127-23,997) signaling extension of the corrective decline for the third session in a row. Nifty is currently placed around the lower band of the last 3 weeks consolidation range 23,800-24,400. A breakdown below 23,800 will open further downside towards 23,550 levels in the coming sessions being the previous major low of 13th April 2026 and the 38.2% retracement of the previous pullback (22183-24601). While holding above 23,800 on a closing basis will signal extension of the recent consolidation. On the higher immediate resistance is placed at Monday’s gap down area of 24,127-23,997. Index sustaining below the same will keep the bias down.
07:56
(IST), May, 12
Stock Market Live Today: Sensex & Nifty50 round-up of Monday session
Equity markets extended their losing streak for a third consecutive session on Monday, with benchmark indices witnessing sharp declines as crude oil prices surged after the United States and Iran failed to secure a peace agreement aimed at ending the ongoing conflict in West Asia.
The BSE Sensex, comprising 30 shares, plunged 1,312.91 points or 1.70% to close at 76,015.28. During intraday trade, the index slumped as much as 1,370.79 points, or 1.77%, touching 75,957.40.
The NSE Nifty50 also ended deep in the red, falling 360.30 points or 1.49% to settle at 23,815.85. Over the past three trading sessions since Thursday, the Nifty has shed more than 515 points, or over 2%, while the Sensex has lost close to 1,950 points, translating into a decline of around 2.5%.
Market sentiment weakened after US President Donald Trump reportedly termed Iran’s response to the latest peace proposal as “totally unacceptable,” reducing hopes of an immediate diplomatic resolution, according to market experts. Analysts also said Prime Minister Narendra Modi’s call for austerity measures added to investor worries regarding forex reserves, rising fuel costs and the broader consumption outlook.
Among Sensex stocks, Titan emerged as the worst performer, sliding nearly 7%. Other major losers included InterGlobe Aviation, State Bank of India, Bharti Airtel, Eternal and Reliance Industries.
On the gaining side, Sun Pharma, Hindustan Unilever, Adani Ports, Kotak Mahindra Bank, Axis Bank and ICICI Bank ended with gains.
Meanwhile, Brent crude, the international oil benchmark, was trading 2.23% higher at USD 103.5 per barrel.
Stock Market Highlights: Some market experts are of the view that recent remarks by Prime Minister Narendra Modi are an indication of rising macroeconomic pressure. PM’s call for austerity measures has further intensified worries regarding India’s foreign exchange reserves, elevated fuel costs and the broader consumption outlook.
Meanwhile, Asian equities moved higher as traders continued to favour AI-related themes despite the lack of progress in US-Iran negotiations. The S&P 500 ended marginally higher on Monday as optimism surrounding artificial intelligence continued to support sentiment. However, the momentum generated by the earnings season began to moderate towards the final phase of corporate results, while rising crude prices added to inflation concerns after US-Iran peace discussions stalled.
Gold prices moved higher on Tuesday as investors monitored developments surrounding the Middle East conflict and awaited a meeting between US President Donald Trump and Chinese President Xi Jinping.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)