Sensex crashes 1456 pts, Nifty below 23400 amid rising crude prices

The domestic share market ended lower on Tuesday falling nearly 2% to extend sharp losses,amid rising crude oil prices and concerns over the ongoing US-Iran tensions. Continued foreign fund outflows and weak global cues also weighed on investor sentiment.At close the Sensex was down 1,456.04 points or 1.92 percent lower at 74,559.24, while the Nifty declined to 23,379.55, down 436.30 points or 1.83 percent.
NTPC,BhartiArtl,ONGC, Vedanta Ltd, AvenuesAI Ltd were the top gainers on the Nifty, while losers included Shriram Finance, Tech Mahindra and Adani Ports.On the sectoral front,all the sectoral indices on the NSE traded in the red, except metals, oil & gas and PSU banks. The broader Nifty Smallcap100 and Nifty Midcap100 indices declined 1.26 percent and 0.81 percent, respectively.
Rupee Close:
On 12 May'26,the Indian rupee depreciated 35 paise to close at an all-time low of 95.63  against the US dollar on Tuesday, as renewed tension between the US and Iran has led to risk aversion in global markets.Forex traders said market sentiment remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after US President Donald Trump rejected Tehran's latest response to a US-backed peace proposal, calling it totally unacceptable.Moreover, market participants interpreted Prime Minister Narendra Modi's comments over the weekend regarding fuel conservation and lower imports as a subtle acknowledgement that India's trade deficit and balance-of-payments pressures could worsen if crude prices remain elevated for longer.
Trading Guide:
Market experts recommended five shares to buy on Tuesday: Acme Solar Holdings, Endurance Technologies, Knowledge Marine & Engineering Works, Narayana Hrudayalaya, and JK Paper.

(Business Correspondent)