- By Aditya Pratap Singh
- Mon, 11 May 2026 04:28 PM (IST)
- Source:JND
Stock Market: The domestic equity indices traded sharply lower on Monday due to broad-based selling on the back of weak global cues, rising crude prices, weakening rupee, and uncertain geopolitical situations. At closing, the BSE Sensex settled at 76,015.28, down 1,312.91 points or 1.70 per cent. Nifty50 ended the session at 360 points or 1.49 per cent lower at 23,815.85.
Key Factors Dragging the Stock Market Today
Renewed Gulf Tension
According to market analysts, the Indian stock market slipped below the 24,000 mark as renewed Gulf tensions, following US President Donald Trump's rejection of Iran’s peace proposal.
"The cautious mood deepened after the PM’s appeal to conserve energy and avoid non-essential foreign travel, prompting investors to reassess the economic impact of higher crude prices, INR weakness, and pressure on the current account deficit," said Vinod Nair, Head of Research, Geojit Investments Limited.
According to Ponmudi R, CEO of Enrich Money, " Indian equity markets closed sharply lower after Donald Trump swiftly rejected Iran’s peace proposal, dampening hopes of a near-term diplomatic breakthrough and keeping markets on edge as oil prices moved higher with the reopening of the Strait of Hormuz appearing increasingly unlikely in the near term."
Bond Yield And FII's Outflow
The rising bond yields and persistent FII outflows were among the key reasons behind the decline in the stock market today.
High Crude Price And Depreciation In Rupee
The oil market remained volatile, reacting to recent developments which suggest that the Strait of Hormuz will remain firmly shut.
"Brent crude climbed nearly 3% to trade in the $97–100 range, while domestic crude futures rose above ₹9,200, as persistent concerns over supply disruptions kept the geopolitical risk premium firmly embedded in prices," Ponmudi said.
Meanwhile, the rupee felt pressure, climbing back above the 95 mark to trade near Rs 95.2 against the US Dollar, erasing much of the recent recovery seen in prior sessions.
Top Losers And gainers
Titan, Indigo, SBI, Bharti Airtel, Eternal, Reliance, Mahindra and Mahindra, NTPC, HDFC Bank, Bajaj Finance, BEL, Maruti Suzuki and Trent were the top losers. Sun Pharma, Hindustan Unilever, Adani Ports, and Kotak Bank were the top gainers