1 min readNew DelhiUpdated: May 18, 2026 11:15 AM IST
Indian equity markets opened sharply in the red on Monday, with benchmark indices extending losses amid weak global cues and broad-based selling pressure. The BSE Sensex fell 890.31 points, or 1.18%, to 74,347.68, while the NSE Nifty 50 declined 229.30 points, or 0.97%, to 23,414.20 in early trade.
The rupee, now Asia’s worst-performing currency in 2026, has fallen 5.5% since the conflict erupted on February 28 and marked its fifth consecutive session at a record low.
Market analysts said elevated oil prices and weak global risk appetite could continue to weigh on both equities and the currency, with the 23,900-24,000 zone seen as key resistance for the Nifty and 23,500-23,400 acting as immediate support.
Sectoral indices reflected widespread weakness, with Nifty PSU Bank and Realty emerging as the biggest laggards, falling 1.75% and 1.64% respectively. Consumer Durables, Financial Services, Metal, Auto and Private Bank indices also slipped over 1%, underscoring broad-based risk aversion.
Oil & Gas, FMCG, Healthcare and Pharma sectors too traded in the red, though losses were relatively milder. Market participants attributed the downturn to unfavourable global developments and persistent commodity price pressures weighing on investor sentiment.
© IE Online Media Services Pvt Ltd
