Indian shares slide, rupee hits record low amid oil-driven jitters; IT index hits 3-yr low

ReutersMay 12, 2026 6:06 AM

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India's Nifty 50 .NSEI and Sensex .BSESN down about 1% each, while rupee INR=IN slides to record low on higher crude prices and persistent foreign outflows due to Mideast tensions

Twelve of 16 major sectors decline; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lose 1.6% and 1.1%, respectively

IT index .NIFTYIT, which earns a significant share of revenue from U.S., drops 3.6% to three-year low on weak earnings outlook and demand concerns

TCS TCS.NS, Infosys INFY.NS, HCLTech HCLT.NS and Wipro WIPR.NS fall 3%-5% ahead of U.S. inflation data, with renewed rate-hike expectations likely to rattle markets
India CPI data also due later in the day

Brent crude near $105 a barrel; Trump says ceasefire on "life support" after Tehran's response exposes gaps between the two sides

ONGC ONGC.NS and Oil India OILI.NS rise 6.6% and 9.2% after CLSA flags gains from royalty cuts on crude oil and gas output

Metals .NIFTYMET gain 1%, tracking global metal prices on supply worries MET/L

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