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Weak trade continues on Dalal Street
May-11-2026

Indian equity benchmarks continued their weak trade in late morning deals, amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the West Asia war. US President Donald Trump has dismissed Iran's response to the latest US peace proposal as 'totally unacceptable', dampening hopes of an immediate diplomatic breakthrough. Some concern also came as 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. Traders overlooked report that the Commerce Ministry said India and Canada will hold the next round of negotiations for the proposed free trade agreement in July in Ottawa. The two sides concluded the second round of talks for the Comprehensive Economic Partnership Agreement (CEPA) on May 8. On the global front, Asian markets were trading mixed amid renewed escalation in U.S-Iran tensions after U.S. President Donald Trump and Iran rejected each other's latest peace proposals to end the war in the Middle East. 

The BSE Sensex is currently trading at 76312.34, down by 1015.85 points or 1.31% after trading in a range of 76165.57 and 76678.52. There were 5 stocks advancing against 25 stocks declining on the index.

The lone gaining sectoral index on the BSE was Healthcare up by 0.41%, while Consumer Durables down by 3.14%, Realty down by 2.77%, Consumer Discretionary down by 2.06%, Industrials down by 1.96% and Capital Goods down by 1.95% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharma up by 1.55%, HCL Technologies up by 0.34%, TCS up by 0.15%, NTPC up by 0.14% and Infosys up by 0.10%. On the flip side, Titan Company down by 6.19%, Interglobe Aviation down by 4.89%, SBI down by 3.98%, Bharti Airtel down by 3.67% and Eternal down by 3.45% were the top losers.

Meanwhile, Union Commerce and Industry Minister Piyush Goyal has said that India held active negotiations with the European Union (EU) to open its market for seafood exports, helping the country overcome challenges arising from elevated US tariffs. According to him, the government expected disruptions and rapidly worked to open substitute markets for Indian exporters. He noted ‘Our government works 24 hours. Often, even before a problem arises, we begin planning and action.’

Further, he said that the United States’ decision to impose a 50 per cent tariff on Indian seafood had hurt exports and caused distress among fishermen. He pointed out ‘When America imposed a 50 per cent tariff on Indian seafood, our exports suffered a big setback. Fishermen were very worried. The Centre responded by engaging with the European Union and addressing regulatory bottlenecks that had earlier restricted Indian shipments.’

Besides, he said several Indian fishing establishments were previously removed from the EU list, but India used quality control orders and standards to push for their restoration. He mentioned ‘We took a firm approach and used quality control mechanisms. Today, more than 125 Indian fishery establishments have been registered.’ He added that this helped India regain access to a large and stable market.

The CNX Nifty is currently trading at 23889.85, down by 286.30 points or 1.18% after trading in a range of 23845.30 and 23986.80. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Tata Consumer Product up by 3.88%, Sun Pharma up by 1.41%, Max Healthcare Inst up by 1.12%, Coal India up by 0.96% and Nestle up by 0.47%. On the flip side, Titan Company down by 6.06%, Interglobe Aviation down by 4.77%, SBI down by 3.78%, Bharti Airtel down by 3.68% and Eternal down by 3.42% were the top losers.

Asian markets were trading mixed; Straits Times rose 17.43 points or 0.35% to 4,939.33, Taiwan Weighted added 406.09 points or 0.97% to 42,010.03, Shanghai Composite strengthened 24.28 points or 0.58% to 4,204.23 and KOSPI increased 381.82 points or 4.85% to 7,879.82.

On the flip side, Nikkei 225 slipped 211.65 points or 0.34% to 62,502.00, Jakarta Composite plunged 79.13 points or 1.15% to 6,890.27 and Hang Seng declined 83.71 points or 0.32% to 26,310.00. 
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