12 May,2026 05:46 PM IST | Mumbai | Tarun Verma
Nifty and Sensex crashes amid escalating global tensions. (Representational image)
Continuing the impact of the West Asia War, Indian equity benchmarks on Tuesday, May 12, extended their losses for a second straight session. Apart from the escalating tensions, surging crude oil prices and concerns over the broader economic fallout also impacted the downward movement of market indices.
According to the Bajaj Broking Research, at close on Tuesday, the Sensex declined 1,456.04 points, or 1.92 per cent, to settle at 74,559.24, while the Nifty 50 fell by 436.30 points, or 1.83 per cent, to close at 23,379.55.
Amid weekly expiry volatility, a steep rise in crude oil prices, persistent weakness in the Indian rupee, and continued FII selling pressure, all of which weighed heavily on overall investor sentiment. India VIX also remained elevated above the 19 mark, indicating heightened market volatility.
Selling pressure remained broad-based across sectors, with no major sector managing to close in the green. Nifty Realty emerged as the top loser, followed by IT and Consumer Durables, with these indices correcting between 2 per cent and 5 per cent.
The broader market also witnessed a sharp correction, indicating widespread risk aversion beyond frontline indices. The Nifty Midcap 100 index declined 2.54 per cent, while the Nifty Smallcap index tumbled 3.17 per cent.
On the 30-share index, SBI was the only stock to close in green. The rest all ended the session lower. Whereas, Tech Mahindra, HCL Tech, Titan and TCS were among the top losers by falling up to 4.44 per cent.
Amid the bear run, the Bank Nifty index formed a third consecutive bearish candlestick pattern with a lower high and a lower low, signalling extension of the decline and continuation of the downtrend. Bank Nifty on Tuesday's session breached the lower band of the last 3 weeks' consolidation range, 54,200-56,500 and closed sharply below the 54,000 levels, according to the Bajaj Broking Research.
Sectorally, information technology and real estate stocks witnessed the sharpest declines. The Nifty IT and Nifty Realty indices emerged as the top laggards, while consumer durable and media shares also remained under pressure.
Expressing his expert views on the highly volatile market, Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services, asserted, "Indian markets extended losses for the fourth consecutive session as the lack of progress in US-Iran negotiations continued to create nervousness across global markets. Escalating tensions in West Asia have heightened fears of a prolonged geopolitical conflict, keeping investors risk-averse and triggering sustained selling across financial markets."
