Business EconomyPosted at: May 11 2026 5:50PM


Stock market sees sharp selloff, Sensex down over 1300 points

New Delhi, May 11 (UNI) The Indian stock market witnessed a sharp selloff on Monday amid weakening investor sentiment. A sharp rebound in crude oil prices after hopes of a near-term peace deal in West Asia faded has also been a key market trigger.
At close, the Sensex was down 1,312.91 points or 1.70 percent at 76,015.28, while the Nifty declined 360.30 points or 1.49 percent to 23,815.85. Nearly 2,779 shares declined while 1,390 advanced.
Volatility remained elevated with India VIX rising 10.10 percent to 18.54.
Among the sectors, Nifty Consumer Durables was down 3.73pc, Realty down by 3.05pc, PSU Bank down by 2.52pc, Media down by 2.49pc and Auto was down 1.86pc. Bank Nifty crashed 1.6%, while the Financial Services index dropped 1.4pc.
Nifty Pharma, Nifty FMCG, Nifty Healthcare, and Nifty Mid-small IT & Telecom indices managed to close in the green
The overall market capitalisation of BSE-listed firms dropped to nearly Rs 467 lakh crore from Rs 473.5 lakh crore in the previous session.
The Indian rupee tanked 85 paise to provisionally settle at a record low of 95.34 against the US dollar.
After Prime Minister Narendra Modi's appeal to citizens to avoid unnecessary gold purchases for "one year" apart from other measures to conserve foreign exchange reserves, amid the ongoing crisis in the Middle East region, Jewellery stocks emerged as the top laggards.
Shares of Kalyan Jewellers India and Titan Company plunging 9.3pc and 6.7pc respectively.
Realty stocks also witnessed sharp selling pressure, with Godrej Properties, Oberoi Realty, Anant Raj, Prestige Estates Projects, Macrotech Developers and DLF falling between 3pc and 4.2pc.
Ashok Leyland crashed 4.2pc to Rs 161 apiece, while Tata Motors, Exide Industries, Mahindra & Mahindra, TVS Motor Company, and Bosch declined over 2pc each.
Brent crude rose sharply by 4.17 per cent to USD 105.5 per barrel in futures trade while the US West Texas Intermediate (WTI) advanced by 5 per cent to USD 100.17 a barrel. UNI VK SAS AAB
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Tags: #Stock market sees sharp selloff# Sensex down over 1300 points
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