Indian equity benchmark indices, the Sensex and Nifty, started the new trading week on Monday, May 18, 2026, on a bearish note amid weak cues from broader Asian markets and rising geopolitical uncertainty after fresh escalation fears emerged in the Middle East. While the 30-share BSE Sensex tumbled 430.02 points or 0.57 per cent to start the session at 74,807.97, the Nifty fell 161.3 points to open at 23,482.20. In the last trading session, the Sensex closed at 75,237.99 and the Nifty 50 at 23,643.50. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index dropped 173.41 points, the BSE Smallcap Select Index shed 103.92 points or 1.24 per cent, to trade at 8,436.32.
From the Sensex pack, Infosys, TCS and Tech Mahindra were in green with Infosys leading the pack by gaining 0.36 per cent in the early trade. On the other hand, Tata Steel, Power Grid, SBIN, HDFC Bank and Adani Ports were in the red with Tata Steel being the top loser by falling over 3.78 per cent.
"The near-term outlook remains cautious to negative, as weak global cues, rising geopolitical tensions, and elevated crude oil prices continue to weigh on overall market sentiment. Although domestic markets have shown resilience in recent sessions, sustained selling pressure near higher levels indicates a lack of strong bullish conviction. Traders are likely to remain focused on global developments and volatility trends, while holding above key support zones will be crucial to prevent further downside pressure in the broader market,” Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a negative start as it opened with a loss of 72.5 points at 23,635.50, compared to the previous close of 23,708. Foreign Institutional Investors (FIIs) remained buyers in the previous session, buying equities worth Rs 1,329.17 crore on May 15. However, Domestic Institutional Investors (DIIs) turned net sellers, offloading equities worth Rs 1,958.82 crore.
Asian Markets Today
Asian markets opened on a weak note on Monday as investors remain cautious after fresh escalation fears emerged in the Middle East. Japan's Nikkei 225 was down by 522.29 points or 0.85 per cent at 60,887 at the time of writing the report. Hong Kong's Hang Seng was down by 359.73 points or 1.39 per cent. However, South Korea's Kospi traded in the green with a gain of 74.04 per cent at the time of writing the report. But Shanghai's SSE Composite index was down 9.04 points or 0.22 per cent.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
