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Sensex, Nifty turn negative in early afternoon deals
May-26-2026

Erasing all of their gains, Indian equity benchmarks turned negative in early afternoon deals, with both Sensex and Nifty falling below their neutral lines, amid negative cues from other Asian markets along with selling at Consumer Durables and Realty counters. Sentiment was also hit by renewed uncertainty about a potential peace deal to end the Middle East conflict after the US attacked key Iranian missile launch sites in Southern Iran and boats attempting to lay mines, in what Iran said were defensive actions. However, downside remained capped, with traders taking a note of reports that Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman has launched a set of strategic portals and initiatives, with an aim to strengthen the MSME ecosystem, enhance last-mile credit delivery and accelerate the modernization of rural industries.

On the global front, Asian markets were trading mostly in red, after Japan's leading index improved less than expected in March to the highest level in nearly four years. The leading index, which measures future economic activity, rose to 114.0 in March from 113.2 in January. Moreover, this was the highest reading since April 2022, when it was 114.6. The flash score was 114.5.

The BSE Sensex is currently trading at 76286.84, down by 202.12 points or 0.26% after trading in a range of 76224.14 and 76627.04. There were 10 stocks advancing against 20 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 1.07%, Utilities up by 0.96%, Power up by 0.92%, Metal up by 0.71% and Capital Goods up by 0.55%, while Consumer Durables down by 0.57%, Realty down by 0.24%, Bankex down by 0.22%, Healthcare down by 0.12% and PSU down by 0.11% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 1.03%, Maruti Suzuki up by 0.72%, Eternal up by 0.71%, Hindustan Unilever up by 0.61% and Infosys up by 0.53%. On the flip side, Kotak Mahindra Bank down by 1.30%, Axis Bank down by 1.20%, Titan down by 0.97%, ITC down by 0.87% and Bharti Airtel down by 0.68% were the top losers.

Meanwhile, amid West Asia crisis disrupting global energy supply chains, the Indian External Affairs Minister S Jaishankar has held talks with his Japanese counterpart Motegi Toshimitsu focused on economic fallout related to the supply chains disruption. Further, Jaishankar has emphasized the India-Japan special strategic and global partnership saying, the ties between the two nations have a larger implication, larger importance and larger impact.

During the discussion, both sides deliberated on bilateral cooperation, global and regional issues, especially the West Asia crisis and its impact on energy supply chains. Jaishankar suggested that the both nations are impacted by the conflict as both are energy importing and trading nations and have maritime interests. Further, two sides deliberated on issues relating to economic security with Jaishankar describing them as ‘very important’.

In FY24-25, the bilateral trade between two countries reached to $25.17 billion. During the same period, Indian exports to Japan were valued at around $6.25 billion, while imports from Japan were worth around $18.92 billion. India ranks eighteenth in Japan's total trade with 1.4% share, while Japan ranks seventeenth in India's total trade with 2.1% share.

The CNX Nifty is currently trading at 24010.15, down by 21.55 points or 0.09% after trading in a range of 23965.70 and 24089.80. There were 25 stocks advancing against 24 stocks declining, while 1 stock remained unchanged on the index.

The top gainers on Nifty were Tata Motors Passenger up by 3.11%, Adani Enterprises up by 3.10%, Coal India up by 2.24%, Bajaj Auto up by 1.12% and Tech Mahindra up by 0.95%. On the flip side, Apollo Hospital Ent. down by 1.42%, Kotak Mahindra Bank down by 1.27%, Axis Bank down by 1.07%, Titan down by 0.97% and ITC down by 0.79% were the top losers.

Asian markets were trading mostly in red; Jakarta Composite plunged 47.64 points or 0.77% to 6,158.71, Straits Times fell 27.17 points or 0.54% to 5,043.38, Nikkei 225 slipped 254.19 points or 0.39% to 64,904.00, Taiwan Weighted lost 119.03 points or 0.27% to 43,525.37 and Shanghai Composite weakened 7.2 points or 0.17% to 4,145.37, while KOSPI increased 199.80 points or 2.48% to 8,047.51 and Hang Seng advanced 6.97 points or 0.03% to 25,613.00.
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