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Weak trade prevails in morning deals
May-12-2026

Indian equity benchmarks continued their weak trade in the morning session amid rising crude oil prices as uncertainty surrounding the West Asia conflict clouded markets' confidence. Unabated foreign fund outflows also dragged the markets lower. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,437.56 crore on Monday, according to exchange data. Investors have maintained cautious approach ahead of Consumer Price Index (CPI) data for April scheduled to be released today. Traders overlooked a government survey released showed unemployment rate in cities declined marginally to 6.6 per cent in March quarter from 6.7 per cent in October-December 2025. Meanwhile, the report said India expects the US team to visit the country for the next round of trade talks, though no dates have been finalised yet. The Indian side visited Washington, DC, in April for an in-person round of meetings with their US counterparts to finalise the details of the interim agreement and take forward the negotiations under the broader bilateral trade agreement (BTA). On the global front, Asian markets were trading mixed as fading hopes for US-Iran peace negotiations dampened market sentiment after US President Donald Trump rejected Iran's counteroffer to end the war as unacceptable.

The BSE Sensex is currently trading at 75243.08, down by 772.20 points or 1.02% after trading in a range of 75229.43 and 75741.96. There were 4 stocks advancing against 26 stocks declining on the index.

The top gaining sectoral indices on the BSE were Oil & Gas up by 0.88%, Energy up by 0.52%, Metal up by 0.44%, Telecom up by 0.25% and PSU up by 0.14%, while IT down by 3.42%, TECK down by 2.16%, Realty down by 1.58%, Consumer Durables down by 1.21% and Consumer discretionary down by 1.01% were the losing indices on BSE.

The top gainers on the Sensex were NTPC up by 0.93%, Tata Steel up by 0.71%, Bharti Airtel up by 0.69% and SBI up by 0.27%. On the flip side, TCS down by 4.24%, Infosys down by 3.82%, Tech Mahindra down by 3.10%, HCL Technologies down by 2.98% and Trent down by 1.99% were the top losers.

Meanwhile, Reserve Bank of India (RBI) Deputy Governor Poonam Gupta has said that by 2046-47, the average per capita income (PCI) of states could reach high-income thresholds if the country's two-decade-long growth trajectory persists. Gupta noted that states falling below the median are projected to drive a significant portion of this expansion, reinforcing the broad-based nature of India's growth story.

She stated ‘Realising and accelerating the path to this potential, however, would require moving towards state-specific growth strategies that are anchored in local strengths, structural realities, and their respective stages of development.’ India's economic growth has consistently accelerated since the early 1980s. Average real gross domestic product (GDP) growth has increased from 5.7% in the 1980s to 5.8% in the 1990s, 6.3% in the 2000s, 6.6% in the 2010s, and reaching 7.7% in the most recent four-year period. The pace of growth is even more pronounced in per capita income.

Per capita income has grown from about $274 in 1981 and $306 in 1991 to nearly $2,700 in 2024, marking almost a 10-fold increase. She mentioned ‘Importantly, while it took over two decades for per capita income to double initially, it has expanded by almost five-fold in the subsequent two decades, indicating a clear structural shift in growth momentum.’

The CNX Nifty is currently trading at 23613.25, down by 202.60 points or 0.85% after trading in a range of 23605.05 and 23757.55. There were 9 stocks advancing against 41 stocks declining on the index.

The top gainers on Nifty were ONGC up by 5.96%, Hindalco up by 2.22%, NTPC up by 0.79%, Tata Steel up by 0.74% and Bharti Airtel up by 0.61%. On the flip side, TCS down by 4.28%, Infosys down by 3.86%, Tech Mahindra down by 3.09%, HCL Technologies down by 3.01% and Wipro down by 2.76% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 272.12 points or 0.44% to 62,690.00, Taiwan Weighted added 364.71 points or 0.87% to 42,154.77, Hang Seng advanced 47.16 points or 0.18% to 26,454.00 and Straits Times rose 0.84 points or 0.02% to 4,943.61.

On the flip side, Jakarta Composite plunged 98.67 points or 1.43% to 6,806.95, Shanghai Composite weakened 19.86 points or 0.47% to 4,205.16 and KOSPI dropped 202.85 points or 2.59% to 7,619.39. 
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