Business EconomyPosted at: May 11 2026 3:42PM


Sensex plummets over 1,000 points, Nifty down by 1pc

Mumbai, May 11 (UNI) Indian equity markets remained under sharp selling pressure on Sunday as escalating geopolitical tensions involving the US and Iran, coupled with rising crude oil prices and Prime Minister Narendra Modi’s seven appeals to the citizens, rattled investor sentiment and triggered broad-based weakness across sectors.
The BSE Sensex tumbled 1,354.26 points or 1.75 per cent to 75,973.93 against the previous close of 77,328.19, while the NSE Nifty 50 dropped 371.45 points or 1.54 per cent to 23,804.70.
Selling intensified during the final trading hours, dragging both benchmark indices near their intraday lows.
Global crude oil prices also surged sharply amid fears of supply disruptions linked to the West Asia situation.
Brent crude rose 2.48 per cent to USD 103.80 per barrel, after touching a high of USD 106 during the session against the previous close of USD 101.29. The rise in oil prices added to concerns over inflation, higher import costs and pressure on India’s fiscal position.
During the session, the Sensex moved between 76,678.52 and 75,957.40, while the Nifty traded in the range of 23,997.45 to 23,801.40.
The benchmarks remained under sustained pressure throughout the day amid weak global cues and heightened risk aversion among investors.
Market participants said the sharp jump in crude prices is particularly significant for India, one of the world’s largest oil importers, as sustained high energy prices could impact corporate profitability, inflation and consumer demand.
The market weakness also came amid growing attention around Prime Minister Narendra Modi’s “Nation First” appeals, especially his call to reduce petrol and diesel consumption by using public transport and his appeal to avoid buying gold for one year.
Analysts said the messaging reflects concerns over rising import dependence at a time when geopolitical tensions are increasing pressure on fuel and commodity prices globally.
The Sensex opened at 76,638.09 before slipping steadily through the session, while the Nifty opened at 23,970.10 and failed to hold key support levels amid persistent selling in heavyweight stocks.
Despite the sharp fall, both benchmark indices continued to trade above their 52-week lows. The Sensex has a 52-week range between 71,545.81 and 86,159.02, while the Nifty’s 52-week range stands between 22,182.55 and 26,373.20. UNI SAS AAB
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Tags: #Sensex plummets over 1#000 points# Nifty down by 1pc
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