Stock Market Today: A wide sell-off was seen in Indian equity markets on Monday (18th May), as panicky selling has hit Dalal Street during the opening trading session, with weaker global cues, soaring crude oil prices, increased geopolitical tension, and consistently weak banking stocks also adding to the factors that pushed markets down.
All the benchmark indices went down by more than 1 per cent during the opening session, and within just a few minutes of trading, investors’ wealth eroded by nearly Rs 6 lakh crore. As of 9:41 AM, BSE Sensex has plunged 938.07 points (1.25%) to 74,299.92, and Nifty 50 fell by 284.35 points (1.20%) to 23,359.15. The Nifty had already tumbled by the 23,400 mark with a wider sell-off across indices.
Volatility was witnessed right from the opening trading session itself. The Nifty50 opened at 23,482.20 levels and reached an intraday high of 23,494.60 and a low of 23,347.35 as almost all the sectors witnessed profit-booking. Financial stocks were leading the pack on Monday’s trading as banking stocks had a sharp fall of 886.77 points (1.47%) to 59,602.57 levels; the BSE Bankex dropped sharply by the same amount. It’s interesting that the stock market carnage had no effect on the IT stocks, and the BSE Focused IT Index jumped 35.60 points, or 0.11%, to stand at 33,252.69, showing some purchasing activity in the technology segment.
Why did the stock market fall today?
Trump threatens Iran, fuels new world anxiety
The new world concern was amplified as President Donald Trump declared “the clock is ticking on Iran” amid stalled negotiations and rising fears of military conflict. It has been reported President Trump has talked to allies such as the Israeli prime minister Benjamin Netanyahu about possible action if negotiations fail. This concern stoked fears of a disruption to a crucial oil passage, the Strait of Hormuz, at a time when markets were already risk-averse on concerns of inflation and global growth.
Crude oil prices are Near $110
Crude oil prices are soaring and putting more pressure on world and Indian markets. Brent crude last week rose more than 8% to over $110 a barrel, and West Texas Intermediate was last trading near $107. Oil prices have jumped more than 50% since tensions rose in West Asia this year. Higher oil prices mean higher inflation risks, pressure on government finances, and hit corporate profitability in India, which imports around 85% of its crude oil. Increased Crude Oil prices are leading to an impact on all sectors, including transport & logistics, fuel and input costs, etc.
The rupee slips to new low against the dollar
The Indian rupee is struggling against the US dollar due to rising crude oil prices and a stronger US dollar. Local currency reached a new all-time low on Friday against the dollar, at a mark of 95.97 dollars, trading below the price of 96 dollars in intraday trade. Concerns over inflation, outflows of foreign funds and overall macroeconomic stability are also rising with India’s import bill going up due to the falling rupee.
Banking Stocks Lead The Plunge
Aggressive selling in financial stocks in early trading dragged the broad market lower. The fall in the Bankex is a reflection of investors’ concerns about higher bond yields, global uncertainty, and a general aversion to risk in interest-rate-sensitive sectors. The market fall was also helped by weakness in banking stocks, which have a large weightage in benchmark indices.
Key Market Snapshot (at the time of writing, 9:42 AM)
| Index | Level | Change |
|---|---|---|
| BSE Sensex | 74,299.92 | -938.07 (-1.25%) |
| Nifty 50 | 23,359.15 | -284.35 (-1.20%) |
| BSE Bankex | 59,602.57 | -886.77 (-1.47%) |
| BSE Focused IT | 33,252.69 | +35.60 (+0.11%) |
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)
Priyanka Roshan is a business writer and chief sub-editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
