Stock Market Today 18 May: Due to rising tensions in the Middle East and after Trump issued a new threat to Iran, the Indian stock market opened sharply lower in the red today. At 9:18 AM, the Sensex was down 851 points, or 1.08 percent, at 74,422, while the Nifty was down 246 points, or 1.04 percent, at 23,392. At the time of writing the news, the Sensex was trading with a fall of 950 points and the Nifty with a decline of 285 points.
Stock Market Today 18 May: Broad-Based Decline in the Market
A broad-based decline is being seen in the market. In the indices, Nifty Consumer Durables and Nifty Realty were among the losers. Along with Nifty Media, Nifty Auto, Nifty Financial Services, Nifty PSU Bank, Nifty PSE, Nifty Consumption, and Nifty Energy, almost all indices were trading in the red.
Along with large-cap stocks, declines were also seen in midcap and smallcap stocks. The Nifty Smallcap 100 Index was down 246 points, or 1.38 percent, at 17,635, while the Nifty Midcap 100 Index was down 690 points, or 1.14 percent, at 59,876.
Top Gainers Shares: ITC Among Loser Stocks
In the Sensex pack, Infosys, Tech Mahindra, TCS, and Bharti Airtel were gainers. Power Grid, Tata Steel, Maruti Suzuki, HDFC Bank, Titan, M&M, HUL, Bajaj Finance, Indigo, SBI, Bajaj Finserv, Trent, UltraTech Cement, Eternal, Asian Paints, L&T, Kotak Mahindra Bank, BEL, NTPC, and ITC were among the losers.
Asian Market Today: Decline in Asian Markets
Along with the Indian stock market, most Asian markets were also trading in the red. Tokyo, Shanghai, Bangkok, Hong Kong, and Jakarta were in the red, while Seoul was trading in the green. US stock markets had closed lower on Friday, with the main index Dow Jones falling 1.07 percent and the technology index Nasdaq declining 1.54 percent.
Stock Market Crash Reason
There has been turmoil in the Indian stock market today, and the reason behind the fall in both Indian and global markets is the rise in crude oil prices due to Iran-US tensions. Apart from this, the US 10-year bond yield reaching 4.63 percent is also one of the reasons for selling pressure in global markets. Meanwhile, domestic institutional investors (DIIs) sold equities worth ₹1,958.82 crore during this period.
Also Read: Stock Market Today 15 May: Sensex Crosses 74,900, Nifty Gains 146 Points
