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Markets trade deeply in red in early deals on Monday
May-11-2026

With a gap-down opening Indian equity benchmarks have extended their previous session losses and are now trading lower by over one percent, which dragged both the Sensex and Nifty below their psychological 76,400 and 23,950 levels respectively. Traders were cautious after Prime Minister Narendra Modi's message to prioritise work from home, avoid international travel for a year, and not purchase gold during this period as well. Meanwhile, the RBI said India's forex reserves dropped by $7.79 billion to $690.69 billion during the week ended May 1. In the previous reporting week ended April 24, the overall reserves had declined by $4.82 billion to $698.48 billion. Besides, sentiments were weak amid continued foreign investor selling. Foreign Institutional Investors (FIIs) remained net sellers, pulling out Rs 4,110.60 crore from equities on May 8, 2026. 

On the global front, Asian markets were trading mixed amid rising oil prices and escalating tensions between the U.S. and Iran. Back home, all the sectoral indices on the BSE were trading in red led by Consumer Durables, Realty, Consumer Disc, Power and Oil & Gas. 

The BSE Sensex is currently trading at 76360.67, down by 967.52 points or 1.25% after trading in a range of 76353.01 and 76678.52. There were 2 stocks advancing against 28 stocks declining on the index.

The top losing sectoral indices on the BSE were Consumer Durables down by 3.14%, Realty down by 1.88%, Consumer Disc down by 1.74%, Power down by 1.46% and Oil & Gas down by 1.46%, while there were no gainers.

The only gainers on the Sensex were HCL Technologies up by 0.22% and NTPC up by 0.14%. On the flip side, Titan down by 5.95%, Interglobe Aviation down by 3.48%, SBI down by 3.26%, Eternal down by 2.87% and Bharti Airtel down by 2.49% were the top losers.

Meanwhile, the Commerce Ministry has said that India and Canada will hold the next round of negotiations for the proposed free trade agreement (FTA) in July in Ottawa, Canada. The second round of negotiations for the proposed Comprehensive Economic Partnership Agreement (CEPA) was held from May 4 to May 8 in New Delhi. Both sides described the negotiations as ‘constructive and productive’ and reaffirmed their shared commitment to advancing a balanced, ambitious, and mutually beneficial agreement aimed at strengthening bilateral trade and economic ties. 

The Ministry said during the second round, the discussions covered areas including trade in goods, services, intellectual property, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade, among others. It said the negotiations are important as the two sides have fixed a target to increase the bilateral trade to $50 billion by 2030. It noted that bilateral trade between the two countries stood at $8.66 billion in FY25, with India exporting goods worth $4.22 billion and importing goods worth $4.44 billion. 

Canada represents a market of 41.65 million people (2025) and a GDP of $2.34 trillion at purchasing power parity. India’s key exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals, among others, while major imports include pulses, pearls and semi-precious stones, coal, fertiliser, paper and petroleum crude. India also exports significant services to Canada, particularly in telecommunications, computer and information services, and other business services.

The CNX Nifty is currently trading at 23930.70, down by 245.45 points or 1.02% after trading in a range of 23895.55 and 23986.80. There were 6 stocks advancing against 44 stocks declining on the index.

The top gainers on Nifty were Tata Consumer up by 5.25%, Max Healthcare up by 1.16%, SBI Life up by 0.48%, HCL Technologies up by 0.18% and Apollo Hospital up by 0.12%. On the flip side, Titan down by 6.29%, Interglobe Aviation down by 3.69%, SBI down by 3.39%, Eternal down by 3.27% and JIO Financial down by 2.78% were the top losers.

Asian markets were trading mixed; Shanghai Composite strengthened 39.18 points or 0.94% to 4,219.13, KOSPI increased 333.87 points or 4.45% to 7,831.87, Straits Times rose 15.73 points or 0.32% to 4,937.6 and Taiwan Weighted added 325.43 points or 0.78% to 41,929.37. However, Nikkei 225 slipped 97.65 points or 0.16% to 62,616.00, Jakarta Composite plunged 63.77 points or 0.91% to 6,905.63 and Hang Seng declined 67.71 points or 0.26% to 26,326.00.
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