Sensex Sank 1456 Points
Gaurav Garg,
Research Analyst,
Lemonn Markets Desk
Mumbai, 12 May 2026: The Indian stock market ended on a cautious note today, with the Nifty 50 settling at 23815.85, down by -436 points or -1.83%. The session reflected a mild downward bias, with price action indicating a rising wedge pattern. The index opened at 23722.6, touched an intraday high of 23757.55, and slipped to a low of 23348.4. The Sensex also closed lower, declining -1456.03 points, ending the session on a weaker footing.
Sector-wise, the market remained under heavy selling pressure with a clear negative trend across all major sectors. IT was the top laggard with steep declines, followed by Realty, Consumer Durables, and Media, reflecting weakness in high-beta segments. Banking and financial indices, including Nifty Bank, Financial Services, PSU Bank, and Private Bank, also ended lower, contributing to the overall drag. Auto, Metals, and Chemical sectors stayed weak, while Oil & Gas witnessed comparatively milder losses. Defensive segments like Pharma and Healthcare showed relative resilience but still closed in the red. Overall, the sectoral outlook remained broadly bearish with widespread declines.
On the fundamental front, the market remained under pressure due to rising geopolitical tensions between the US and Iran, which pushed global crude oil prices above the $100–105 per barrel range, increasing concerns over inflation and India’s higher import bill. The surge in oil prices, driven by supply disruption fears, weighed on investor sentiment, especially for an oil-import-dependent economy like India. Additionally, the Indian rupee weakened towards the ₹95/$ mark amid continued FII outflows and elevated crude prices, raising concerns over the current account deficit and forex stability. Weak global cues, persistent foreign selling, and heightened volatility further contributed to the overall risk-off sentiment in the market.
