Indian equity benchmarks opened sharply lower on Monday as rising geopolitical tensions between the U.S. and Iran triggered a spike in crude oil prices, weighing heavily on investor sentiment. At 9:17 AM, the Nifty 50 was trading 258.55 points, or 1.09% lower at 23,382.60, while the Sensex declined 855.87 points, or 1.14% to 74,382.12. The weakness extended to broader markets with the Nifty MidCap index slipping 1.04% and the Nifty SmallCap index falling 1.15%, indicating risk-off sentiment among investors. Among the top laggards on the Nifty 50 were Power Grid Corporation, Tata Steel, and Titan Company, as broad-based selling pressure hit metal, infrastructure, and consumer stocks. Gift Nifty was trading over 140 points lower, signalling a weak start for Indian equity markets amid rising crude oil prices and escalating geopolitical concerns.
Infosys Ltd emerged as the leading gainer with a 1.07% increase to ₹1,131.00, recording the highest trading volume of 10.84 lakh shares. According to ET Now, Tech Mahindra Ltd followed with a 0.65% gain to ₹1,379.40 and 1.04 lakh shares traded. Wipro Ltd showed positive momentum with a 0.54% rise to ₹191.02 and 21.35 lakh shares volume. Other notable gainers included Coal India Ltd at ₹463.30 (+0.24%), Tata Consultancy Services Ltd at ₹2,269.30 (+0.23%), and Bharti Airtel Ltd at ₹1,907.00 (+0.08%). The Nifty IT index showed relative resilience and outperformed the broader market amid the overall market selloff.
Power Grid Corporation of India Ltd led the losers with a 3.50% decline to ₹295.15, recording the highest trading volume of 22.07 lakh shares. As reported by ET Now, Tata Steel Ltd followed with a 3.19% drop to ₹209.93 and 134.55 lakh shares traded. Maruti Suzuki India Ltd declined 2.52% to ₹12,888.00 with 0.30 lakh shares volume. Other significant decliners included Shriram Finance Ltd at ₹918.00 (-2.12%), Eicher Motors Ltd at ₹6,876.50 (-1.97%), and Mahindra & Mahindra Ltd at ₹3,063.30 (-1.91%). The Nifty Realty, Nifty Auto, and Nifty Media indices underperformed amid concerns that rising fuel costs could impact demand and profitability.
Brent crude's May futures contract rose 1.78% to USD 111.13 per barrel on the Intercontinental Exchange, intensifying concerns over global inflation and higher import costs for oil-dependent economies such as India. However, the positive sentiment from the talks was overshadowed by rising geopolitical uncertainty and concerns over inflationary pressures from higher energy prices. Brent crude climbed 2.33% to USD 111.81 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 2.79% to USD 108.36 per barrel. In early Monday trade, Brent crude rose 1.34% to $110.72 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed 1.75% to $107.26 per barrel. The sharp rise in oil prices has increased concerns over inflation, especially for emerging markets like India that heavily depend on crude imports. Fresh geopolitical tensions emerged after US President Donald Trump issued a warning to Iran, increasing concerns about a possible escalation in the Middle East and potential disruption to global oil supplies.
According to ET Now, the stock market witnessed notable price movements today with several companies posting significant gains or losses. The top gainers list featured companies that posted positive developments or benefited from sectoral momentum, recording significant price appreciation supported by higher trading volumes and positive investor sentiment. Conversely, the losers list included stocks that came under pressure due to weak results, unfavorable news, or broader market volatility, with some witnessing profit booking after recent rallies. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) remained net buyers in the Indian equity market, purchasing shares worth ₹1,329 crore on May 15, while Domestic Institutional Investors (DIIs) turned net sellers and offloaded shares worth ₹1,958 crore during the trading session. The Put-Call Ratio (PCR) stood at 0.94, indicating a cautious undertone in the market, with major open interest concentrated at the 23,000 and 23,500 strikes on the Put side and significant addition at 24,000 and 24,500 strikes on the Call side.
