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Informist, Monday, May 11, 2026

 

By Simran Rede

 

MUMBAI – India's headline equity indices ended lower Monday on a rise in crude oil prices after US President Donald Trump said Iran's response to the US proposal to end the war was "totally unacceptable". The market also faced negative pressure from Prime Minister Narendra Modi's statement to defer gold purchases to save foreign exchange reserves in the wake of the war in West Asia, according to analysts.

 

The benchmark equity indices opened gap-down and continued to underperform its Asian peers amid weak global cues and rising geopolitical uncertainties. After Modi's comments, analysts believe there is a possibility the war in West Asia will not end in the near term, adding further pressure on equities.

 

Although the Nifty 50 recovered a little from the day's low briefly, it eventually fell again to end in the red for the third consecutive session. Monday, the Nifty 50 settled at 23815.85, down 360.30 points or 1.5%. The BSE Sensex ended at 76015.28, down 1312.91 points or 1.7%. Index heavyweights such as HDFC Bank, Reliance Industries, and Bharti Airtel were the major drags on the 50-stock index.

 

On the sectoral front, some buying interest was visible in healthcare, pharmaceutical, and information technology stocks, whereas consumer durables, realty, consumption, and automobile stocks took a hit. "Defensive sectors are obviously technology for this point in time because a depreciating rupee is an advantage for technology sector," Himanshu Pravinchandra Pandya, an investment adviser registered with the Securities and Exchange Board of India and founder of HP Private Wealth Advisory Services, said.

 

"We have upgraded the communications sector back to Overweight due to the combination of accelerating top-line growth and improving earnings momentum," Mathieu Racheter, head of equity strategy research at Julius Baer, said in a report. Racheter believes the valuations are reasonable. "...if capex (capital expenditure) growth starts to moderate from 2027, these companies should be well positioned vs other AI (artificial intelligence) segments," he said.
 

Rising geopolitical uncertainty because of the impasse in West Asia has renewed concern about possible disruptions to crude oil supply through the Strait of Hormuz, thereby exerting pressure on emerging markets, including India, Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. At 1536 IST, the July futures contract of Brent Crude on the Intercontinental Exchange was at $103.88 per barrel.

 

Going with the flow, Titan Co. closed 6.7% lower and was the worst-hit stock in the Nifty 50. The stock fell after Modi urged citizens to postpone purchases of gold for the next one year to conserve the country's foreign exchange reserves as the war in West Asia continues. This weighed on all jewellery stocks which ended sharply lower Monday.

 

Following this, jewellery associations are set to meet officials from the prime minister's office Tuesday, according to a post on the social media platform X by CNBC-TV18. Shares of Kalyan Jewellers ended 9.3% lower, making it the worst-performing stock in the Nifty 200. Senco Gold, PN Gadgil Jewellers, and PC Jeweller also ended 5-9% lower.

 

ABB India closed 9% down to be the second worst-hit Nifty 200 constituent. The stock declined after the company's revenue for the March quarter fell short of the Street's estimate. The company's top line fell nearly 7% on quarter but rose nearly 6% on year to INR 31.84 billion, well below the Street's expectation of INR 34.35 billion. Its net profit from continuing operations fell nearly 19% sequentially and over 25% on year to INR 3.42 billion. Nuvama Institutional Equities has downgraded the stock to "reduce" as the valuation remains stretched.

 

Among the laggards in the Nifty 200, Swiggy ended 6% lower. Most brokerages have retained their "buy" recommendation on the stock with many of them trimming or largely maintaining their target prices and others raising the target price marginally. The company's guidance of INR 1 trillion in gross order value for its Instamart business with 3-4?justed earnings before interest, tax, depreciation, and amortisation margin appears to be "flimsy", according to Nomura.

 

Among the gainers in the market, Vodafone Idea ended over 8% higher after hitting a 10% upper circuit during the session. The stock rose after a Bloomberg report said the company's UK-based parent Vodafone Group Plc is working on a proposal to strengthen Vodafone Idea's capital. This comes after the government trimmed the annual gross revenue dues of the company to INR 640.5 billion as on Dec. 31.

 

Tata Consumer Products emerged as the top gainer in the Nifty 50 after the company posted robust earnings growth for the March quarter. The stock ended 8% higher at INR 1,271 after hitting an all-time high of INR 1,279.40 during the session. The company's net profit for the quarter rose nearly 21% on year and its top line grew nearly 18%, both beating the Street's estimates. The company reported robust 16% underlying volume growth for the India branded business.

 

Shares of UPL regained momentum after an initial fall as the company reported a 13-quarter-high year-on-year revenue growth for the March quarter. This was largely driven by a rise of over 20% in revenue from Latin America and North America, and strong revenue growth from its Advanta operations. 

 

Among Nifty 500 constituents, C.E. Info Systems rose almost 13% and was the top gaining stock, followed by Affle 3I and Krishna Institute of Medical Sciences, which both closed over 8% higher.

 

All the broader market indices closed in the red but they fall less than the benchmarks. Nifty Smallcap 100 ended 1.1% lower to be the worst-hit and the Nifty Midcap 50 closed 0.8% lower and was the least affected index. The fear gauge of the market, India VIX, surged over 10% to 18.5525, marking a rise for the second session.

 

* Of the Nifty 50 stocks, 13 rose and 37 fell

* Of the Sensex stocks, 6 rose, 24 fell

* On the NSE, 963 stocks rose, 2,366 fell, and 93 were unchanged

* On the BSE, 1,457 stocks rose, 2,892 fell, and 189 were unchanged
* Nifty Consumer Durables: down 3.7%; Nifty Realty: down 3.1%; Nifty Healthcare: up 0.5%

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BSE                                                NSE

Sensex: 76015.28, down 1312.91 points or 1.7%      Nifty 50: 23815.85, down 360.30 points or 1.5%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 95.31

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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