HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Sensex, Nifty trade lower with deep cut in early deals; IT stocks led losers
May-12-2026

Indian equity benchmarks made negative start on Tuesday and soon extended their losses amid global uncertainty, high crude oil prices, and pressure on the Indian rupee. The rupee sank to new low of 95.50 against the US dollar at the open. Sensex and Nifty traded lower with deep cut in early deals as investors remained cautious amid concerns over foreign fund outflows. Foreign institutional investors (FII) sold shares worth Rs 8,437.56 crore on May 11, 2026. Information technology stocks emerged as the biggest losers during early trade. Some cautiousness came as Crisil projected India’s real gross domestic product (GDP) growth to slow to 6.6% in FY27, down from 7.6% in FY26, citing high crude and commodity prices, weaker global growth, and a below-normal monsoon.

On the global front, Asian markets were trading mixed after oil prices remained high following comments by US President Donald Trump. Reports said Trump rejected Iran’s peace proposal and warned that the ceasefire situation remains uncertain.

The BSE Sensex is currently trading at 75337.28, down by 678.00 points or 0.89% after trading in a range of 75276.30 and 75741.96. There were 5 stocks advancing against 25 stocks declining on the index.

The few gaining sectoral indices on the BSE were Metal up by 0.55%, Oil & Gas up by 0.30%, Energy up by 0.12% and PSU up by 0.02%, while IT down by 3.03%, TECK down by 1.99%, Realty down by 1.33%, Consumer Durables down by 0.87% and FMCG down by 0.71% were the top losing indices on BSE.

The top gainers on the Sensex were NTPC up by 1.01%, Tata Steel up by 0.71%, SBI up by 0.46%, Bharti Airtel up by 0.28% and Eternal up by 0.20%. On the flip side, TCS down by 3.49%, Infosys down by 3.40%, Tech Mahindra down by 3.15%, HCL Technologies down by 2.28% and Adani Ports & SEZ down by 1.74% were the top losers.

Meanwhile, ratings agency - Crisil has projected that India’s real gross domestic product (GDP) growth to slow to 6.6% in fiscal year 2026-27 (FY27), down from 7.6% in FY26, citing high crude and commodity prices, weaker global growth, and a below-normal monsoon. CPI inflation is projected to rise to 5.1%, up from 2.0% last year. Crisil warned that a prolonged closure of the Strait of Hormuz may keep oil prices high. It reviewed the Brent crude forecast to $90-95 per barrel, from $82-87 previously.

It cautioned that higher crude and gas prices, coupled with global supply chain disruptions, will strain the country’s growth. The manufacturing sector, heavily dependent on imports, is particularly vulnerable. Exports will be adversely impacted by weaker global demand and trade disruptions. It highlighted that a below-normal monsoon, worsened by El Nino, could hit agriculture and the rural economy, with kharif and rabi crop output at risk. The India Meteorological Department forecasts rainfall at 92% of the long-period average.

It further said that rising inflation from higher commodity prices and disrupted agriculture will strain household budgets and restrain consumption. Business investment may slow amid uncertainty from the West Asia conflict, which has already caused the largest energy shock on record and disrupted trade and supply chains. However, it noted that growth will be supported by fiscal measures, including the Centre’s capital expenditure push, GST rate rationalisation, and unconditional cash transfers by states.

The CNX Nifty is currently trading at 23638.20, down by 177.65 points or 0.75% after trading in a range of 23617.70 and 23757.55. There were 10 stocks advancing against 39 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were ONGC up by 4.47%, Hindalco up by 2.04%, NTPC up by 0.93%, Tata Steel up by 0.69% and SBI up by 0.40%. On the flip side, TCS down by 3.59%, Infosys down by 3.29%, Tech Mahindra down by 3.12%, Wipro down by 2.38% and HCL Technologies down by 2.32% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 348.12 points or 0.56% to 62,766.00, Taiwan Weighted rose 237.99 points or 0.57% to 42,028.05, Hang Seng advanced 82.16 points or 0.31% to 26,489.00 and Straits Times added 0.66 points or 0.01% to 4,943.43. On the other hand, KOSPI dropped 158.35 points or 2.02% to 7,663.89, Jakarta Composite fell 68.79 points or 1% to 6,836.83 and Shanghai Composite was down by 17.02 points or 0.4% to 4,208.00.
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.