BT Closing Bell | Sensex, Nifty deepen selloff; Rs 16 lakh crore m-cap eroded in 4 days
Five stocks, namely, HDFC Bank, Reliance Industries, ICICI Bank, Infosys and Larsen & Toubro (L&T), contributed largely to the Sensex’s fall.
- May 12, 2026,
- Updated May 12, 2026 3:55 PM IST
Domestic equity benchmarks BSE Sensex and NSE Nifty extended their slide for the fourth consecutive session on Tuesday, pressured by a record-low rupee and elevated crude oil prices amid lingering uncertainty surrounding the fragile US-Iran ceasefire.
At close on Tuesday, the Sensex plunged 1456.04 points, or 1.92 per cent, to settle at 74,559.24, while the Nifty slumped 436.30 points, or 1.83 per cent, to close at 23,379.55.
The domestic indices suffered a sharp decline in the past four sessions, eroding around Rs 16 lakh crore. Investor wealth, as reflected in the BSE’s market cap, plunged to Rs 456.40 lakh crore, down from Rs 472.46 lakh crore recorded days ago on May 6, when markets ended in the green.
Top gainers & losers
Among Sensex constituents, Tech Mahindra emerged as the top loser, falling 4.44% to Rs 1392.35. Adani Ports followed with a 4.39% drop, while HCL Technologies, Tata Consultancy Services (TCS), Titan and Bharat Electronics (BEL) declined 4.11%, 3.84%, 3.60% and 3.51%, respectively.
While State Bank of India (SBI) was the only gainer on the 30-pack index, edging up 0.12% to Rs 974.70
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Among sectoral indices, the BSE IT index declined 3.67% to close at 27,485.96, while the BSE Consumer Durables index plunged 3.35% to settle at 56,329.29.
“Domestic equities remained under pressure, with the rupee weakening to record lows amid rising crude oil prices linked to escalating tensions in West Asia along with FII outflows. The decline was broad-based, led by IT and realty stocks,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
“IT stocks underperformed as concerns grew around AI-driven pricing pressure and potential disruption following recent enterprise adoption initiatives by OpenAI,” Nair added.
“Going ahead, the 23530–23550 zone is expected to act as a crucial resistance for the index. As long as Nifty sustains below the 23550 mark, the prevailing bearish trend is likely to persist, potentially dragging the index lower towards 23200, with the possibility of further downside extending to the 23050 level,” Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.
Domestic equity benchmarks BSE Sensex and NSE Nifty extended their slide for the fourth consecutive session on Tuesday, pressured by a record-low rupee and elevated crude oil prices amid lingering uncertainty surrounding the fragile US-Iran ceasefire.
At close on Tuesday, the Sensex plunged 1456.04 points, or 1.92 per cent, to settle at 74,559.24, while the Nifty slumped 436.30 points, or 1.83 per cent, to close at 23,379.55.
The domestic indices suffered a sharp decline in the past four sessions, eroding around Rs 16 lakh crore. Investor wealth, as reflected in the BSE’s market cap, plunged to Rs 456.40 lakh crore, down from Rs 472.46 lakh crore recorded days ago on May 6, when markets ended in the green.
Top gainers & losers
Among Sensex constituents, Tech Mahindra emerged as the top loser, falling 4.44% to Rs 1392.35. Adani Ports followed with a 4.39% drop, while HCL Technologies, Tata Consultancy Services (TCS), Titan and Bharat Electronics (BEL) declined 4.11%, 3.84%, 3.60% and 3.51%, respectively.
While State Bank of India (SBI) was the only gainer on the 30-pack index, edging up 0.12% to Rs 974.70
The Business Today Show at India Today | Every trading day at 3 pm | Complete stock market closing action
Catch all the latest updates coming in from the stock markets on The Business Today Show. This is where you will get all the market closing action on the Dalal Street, and what's hot in the corporate and financial world. Every trading day at 3 pm - The Business Today Show at India Today.
Watch here:
Among sectoral indices, the BSE IT index declined 3.67% to close at 27,485.96, while the BSE Consumer Durables index plunged 3.35% to settle at 56,329.29.
“Domestic equities remained under pressure, with the rupee weakening to record lows amid rising crude oil prices linked to escalating tensions in West Asia along with FII outflows. The decline was broad-based, led by IT and realty stocks,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
“IT stocks underperformed as concerns grew around AI-driven pricing pressure and potential disruption following recent enterprise adoption initiatives by OpenAI,” Nair added.
“Going ahead, the 23530–23550 zone is expected to act as a crucial resistance for the index. As long as Nifty sustains below the 23550 mark, the prevailing bearish trend is likely to persist, potentially dragging the index lower towards 23200, with the possibility of further downside extending to the 23050 level,” Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.