Stock Market Closing: Rs 12 Lakh Cr MCap Wiped Out! Sensex Crashes 1500 Pts, Nifty Ends Below 23,400

Stock Market Closing Bell: Nifty and Sensex continued to fall for the second consecutive session on Tuesday, May 12, after the Indian stock market investors remained cautious amid geopolitical uncertainty, elevated crude oil prices and Rupee weakness. Nifty suffered a 436 points loss and ended below 23,400. Whereas, BSE Sensex plunged nearly 1456 points.

The Indian stock market crash on Tuesday coincided with the Indian Rupee hitting to fresh record lows. Meanwhile, crude oil prices continued to remain elevated and hovering around $105 per barrel mark.

Stock Market Closing

Tuesday's sharp selloff in the Indian stock market wiped out nearly Rs 12 lakh crore in investor wealth on the BSE, as benchmark indices came under heavy pressure amid rising geopolitical tensions. The downturn in the BSE Sensex followed renewed uncertainty around US-Iran negotiations, after US President Donald Trump reportedly rejected Iran's latest proposal, leaving peace talks in limbo and rattling global market sentiment.

"Sector-wise, the market remained under heavy selling pressure with a clear negative trend across all major sectors. IT was the top laggard with steep declines, followed by Realty, Consumer Durables, and Media, reflecting weakness in high-beta segments. Banking and financial indices, including Nifty Bank, Financial Services, PSU Bank, and Private Bank, also ended lower, contributing to the overall drag. Auto, Metals, and Chemical sectors stayed weak, while Oil & Gas witnessed comparatively milder losses. Defensive segments like Pharma and Healthcare showed relative resilience but still closed in the red. Overall, the sectoral outlook remained broadly bearish with widespread declines," explained Gaurav Garg, Lemonn Markets Desk.

Nifty 50 Closing: Top Gainers, Top Losers

Shriram Finance, Jio Finance, Tech Mahindra, Adani Ports HCL Tech, TCS, Adani Enterprises, Titan were among the top losers. Whereas ONGC, Hindalco, State Bank of India emerged as the top gainers.

Bharti Airtel, NTPC, Tata Steel, Coal India, JSW Steel, etc ended Tuesday's trading session with marginal loss.

Nifty Bank Falls 1.55%

Nifty Bank stock was down close to 1.55% during Tuesday's trading session. IndusInd Bank, Federal Bank, Yes Bank, IDFC First Bank, AU Bank, etc ended with nearly 2% loss on Tuesday. Canara Bank and State Bank of India emerged as exception as these two bank stocks managed to end the trading session in green.

Indian Rupee Hits Record Low Mark

The Indian rupee slipped to a new record low of 95.73 against the US dollar on 12 May, as higher crude oil prices and renewed tension around the fragile United States-Iran ceasefire weighed on sentiment. Equity markets across Asia also softened, reflecting wider risk aversion among global investors.

Traders said demand for dollars stayed strong through the session, while confidence in the rupee remained weak. They pointed to persistent foreign outflows and concerns over imported inflation, especially from energy, as key factors limiting any decisive recovery in the currency for now.