The Indian stock market witnessed a brutal 1,313-point crash on Monday, with the BSE Sensex tanking 1,312.91 points, or 1.70%, to settle at 76,015.28. During the day, the index tumbled 1,370.79 points or 1.77% to 75,957.40, indicating severe selling pressure throughout the session. The NSE Nifty dropped 360.30 points or 1.49% to end at 23,815.85, with both indices settling below their respective key support levels. In three sessions since Thursday, Nifty dropped over 2% or 515 points, while Sensex has fallen by nearly 1,950 points or 2.5%. The Gift Nifty was trading around 24,055 level, a discount of nearly 179 points from the Nifty futures' previous close, indicating a negative start for the Indian benchmark index.
On Friday, the Indian stock market extended losses for the second consecutive session and ended lower. As reported by Livemint, the Sensex closed 516.33 points lower at 77,328.19, while the Nifty 50 settled 150.50 points down at 24,176.15, with both indices settling below their respective key support levels. The 50-share Nifty declined 150.50 points, or 0.62%, to settle at 24,176.15, while the BSE Sensex dropped 516.33 points, or 0.66%, to end at 77,328.19. The volatility gauge India VIX ended at 16.84, down by 1.32% from the last closing, indicating some stabilization in market sentiment.
According to Choice Broking, Sensex is witnessing increasing bearish pressure on the intraday structure, with the index decisively breaking below the 50 EMA. Hitesh Tailor, Technical Research Analyst at Choice Broking, noted that on 11th May 2026, the BSE Sensex closed at 76,015.28, declining sharply by -1,312.91 points (-1.70%), as weak global sentiment and heightened geopolitical concerns triggered broad-based selling pressure across the market. The index opened gap down by nearly 690 points and remained volatile during the first half of the session, witnessing both downside and recovery attempts. Immediate support is now placed in the 74,700–75,000 zone, which may act as a crucial demand area in the coming sessions. On the upside, resistance is seen around 77,100–77,300, where recovery attempts are likely to face selling pressure and profit booking.
As reported by Centrum Finverse Ltd, Nifty 50 formed an evening star formation on the daily chart, signalling potential near-term exhaustion after the recent advance. Nilesh Jain, VP- Head of Technical and Derivative research, noted that the Nifty 50 managed to hold above its 21-DMA support placed near 24,140 levels on a closing basis. According to Choice Broking, resistance levels are placed at 24,500 and 24,600, while support is seen at 24,000 and 23,800. Rupak De from LKP Securities advised that if the Nifty sustains below 24,200 on Monday, the index could witness further correction towards the 24,050–24,000 zone, while a move back above 24,200 may trigger a near-term recovery rally towards 24,350–24,400. However, momentum indicators and oscillators show signs of improvement, with the RSI hovering around 46 levels, suggesting potential for gradual recovery toward 24,300–24,500 levels.
On Monday, market breadth stood negative with 2,892 stocks declining, 1,457 advancing and 189 remaining unchanged out of 4,406 stocks that traded on BSE. Sectorally, Consumer Durables index tumbled 3.76%, Realty (2.74%), MidSmall Private Banks Quality Tilt (2.60%), BSE PSU Bank (2.28%), Consumer Discretionary (2.14%), and Power (2.13%). BSE Healthcare and Hospitals were the winners. Jewellery stocks faced heavy selling pressure, with Sky Gold and Senco Gold falling over 12% intra-day before closing lower by over 6%. Sensex gainers included Titan, Sun Pharma, Hindustan Unilever, Adani Ports, Kotak Mahindra Bank, Axis Bank and ICICI Bank, while major laggards were InterGlobe Aviation, State Bank of India, Bharti Airtel, Eternal and Reliance Industries. Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,110.60 crore on Friday, according to exchange data.
