Closing Bell: Sensex Ends 0.64% Down, Nifty 50 Slips Below 24,000; Brent Crude Near $99 Per Barrel

Market Update at 04:09 PM: Indian equity benchmarks ended lower on Tuesday, May 26, as renewed U.S. military strikes dampened hopes of an imminent peace agreement with Iran. The decline came a day after markets rallied to two-week highs on expectations that tensions in the Middle East would ease.

The Nifty 50 opened 27 points lower and initially climbed to an Intraday high of 24,089.80. However, selling pressure emerged in the latter half of the session, dragging the benchmark down by over 0.5 per cent and snapping its two-day winning streak.

At the close, the Nifty 50 settled below the crucial 24,000 mark at 23,031.70, down 118 points or 0.49 per cent. The Sensex also ended in negative territory, declining 479.25 points or 0.63 per cent to close at 76,009.71. The Bank Nifty index mirrored the broader weakness and slipped nearly 200 points. Meanwhile, the India VIX index declined 3.4 per cent to around 16 levels.

On the May monthly expiry day, the Nifty 50 ended the series with a decline of 0.32 per cent, or 82 points. The previous monthly expiry had taken place on April 28.

Brent crude oil futures traded near USD 99 per barrel, hovering around a five-week low. Markets continued to assess optimism surrounding ongoing U.S.-Iran negotiations alongside renewed military activity in southern Iran.

The Indian rupee weakened by 0.47 per cent against the U.S. dollar to 95.69. The decline came amid a rebound in crude oil prices and fading optimism over a quick U.S.-Iran peace deal. Month-end demand for dollars also weighed on the domestic currency.

Sectorally, four out of the 11 major indices ended in positive territory. Broader markets outperformed the benchmarks, with the Nifty Midcap index rising 0.54 per cent and the Nifty Smallcap 100 index gaining 0.35 per cent. The Nifty Midcap 250 index also touched a fresh all-time high during the session.

The Nifty Metal index emerged as the top-performing sector, gaining 1.1 per cent as 13 of its 15 constituents ended higher. The sector extended its winning streak for the fifth consecutive trading session. On the other hand, the Nifty Financial Services index was the worst-performing sector, falling 0.65 per cent and snapping its two-day gaining streak.

Among individual stocks, state-run Railway infrastructure company Rail Vikas Nigam declined 4.66 per cent after reporting a drop in quarterly profit. Logistics major Container Corporation of India fell 7.06 per cent following weaker fourth-quarter earnings.

The major contributors supporting the Nifty 50 were Adani Enterprises, which added 7.42 points, followed by Trent Ltd with 5.67 points and Eternal Ltd with 3.94 points. Meanwhile, the biggest drags on the index included HDFC Bank, which shaved off 26.48 points, ICICI Bank with 19.78 points and Bharti Airtel with 18.46 points.

Market breadth on the NSE remained largely balanced. Out of 3,425 stocks traded, 1,655 advanced, while 1,652 declined and 118 remained unchanged.

A total of 115 stocks touched their 52-week highs, whereas 35 stocks hit their 52-week lows. Additionally, 132 stocks were locked in Upper Circuits, while 84 stocks hit Lower Circuits.

Market Update at 2:19 PM: Indian benchmark indices traded lower on Tuesday amid rising geopolitical tensions in West Asia and a sharp rise in crude oil prices. Investors remained cautious after fresh military strikes by the U.S. in southern Iran raised concerns over a prolonged conflict in the region.

At around 2:00 PM, the Nifty 50 declined 94.95 points, or 0.40 per cent, to 23,935.35, while the Sensex dropped 413.76 points, or 0.54 per cent, to 76,075.20.

Despite weakness in frontline indices, broader markets showed resilience. The Nifty MidCap index traded 0.25 per cent higher, while the Nifty SmallCap index gained 0.53 per cent. The Nifty MidCap 100 also touched a fresh record high of 62,324.20 during the session, indicating continued buying interest in mid-sized companies.

Among sectoral indices, the Nifty Consumer Durable, Nifty PSU Bank, and Nifty Private Bank sectors underperformed the broader market. On the other hand, the Nifty IT and Nifty Metal indices traded in positive territory and emerged as the top sectoral gainers.

Market sentiment remained under pressure after reports stated that the U.S. launched fresh strikes in southern Iran on Tuesday morning. According to reports citing U.S. Central Command, the strikes were carried out to protect U.S. troops from Iranian forces, even as negotiations between the two countries continued.

Crude oil prices extended gains following the escalation in tensions. Brent crude futures for May delivery rose 1.7 per cent to USD 97.78 per barrel on the Intercontinental Exchange. The surge in oil prices weighed on investor sentiment, as higher crude prices could increase inflationary pressures and impact India’s import bill.

Market Update at 12:19 PM: Indian equity benchmark indices traded in a narrow range on Tuesday as investors closely tracked geopolitical developments in West Asia and rising crude oil prices. Market sentiment remained cautious after fresh military action by the U.S. in southern Iran raised concerns over a prolonged conflict in the region.

As of 12:07 PM on May 26, 2026, the Nifty 50 was trading 6.95 points, or 0.03 per cent, higher at 24,038.65. Meanwhile, the Sensex declined 52.36 points, or 0.07 per cent, to 76,436.60.

The broader markets continued to outperform the benchmark indices. The Nifty MidCap index gained 0.39 per cent, while the Nifty SmallCap index advanced 0.82 per cent during the session. The Nifty MidCap 100 also touched a fresh record high of 62,324.20, indicating sustained buying interest in mid-sized companies.

Among sectoral indices, the Nifty IT and Nifty Media sectors emerged as the Top Gainers, supported by selective buying interest. On the other hand, the Nifty Consumer Durable, Nifty Healthcare, and Nifty Realty indices traded under pressure and lagged the broader market.

Investor focus remained on developments in West Asia after reports stated that the U.S. launched fresh strikes in southern Iran on Tuesday morning. According to reports citing the U.S. Central Command, the strikes were conducted to protect American troops from Iranian forces despite ongoing diplomatic negotiations.

Escalating geopolitical tensions also pushed crude oil prices higher. Brent crude futures for May delivery rose 1.7 per cent to USD 97.78 per barrel on the Intercontinental Exchange, as concerns over potential supply disruptions weighed on hopes of a peace agreement.

Market Update at 09:35 AM: Indian benchmark indices opened lower on Tuesday amid weak global cues after fresh military strikes by the U.S. on Iran heightened concerns over prolonged geopolitical tensions in the Middle East.

The Nifty 50 declined 40.80 points, or 0.17 per cent, to 23,987.45 at around 9:17 AM. Meanwhile, the Sensex fell 141.36 points, or 0.18 per cent, to 76,347.60 during early trade.

Investor sentiment remained cautious after reports said the U.S. launched fresh strikes in southern Iran despite ongoing diplomatic negotiations between the two nations. According to reports citing the U.S. Central Command, the strikes were aimed at protecting American troops from threats posed by Iranian forces.

The escalating tensions also pushed crude oil prices higher, raising concerns over inflation and global economic stability. Brent crude futures climbed 2.31 per cent to USD 98.36 per barrel on the Intercontinental Exchange during early Tuesday trade as fears of supply disruptions resurfaced.

Global markets remained under pressure as traders monitored developments in the Middle East and awaited further clarity on the possibility of a peace agreement between the U.S. and Iran. Analysts said sustained volatility in crude oil prices could continue to impact equity markets in the near term.

Pre-Market Update at 7:42 AM: IThe Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Tuesday, May 26, tracking mixed global cues and cautious investor sentiment amid ongoing U.S.-Iran peace negotiations.

Gift Nifty was trading near the 24,057 mark, a discount of nearly 41 points from the previous close of Nifty futures, indicating a muted start for domestic equities. Asian markets traded mixed in early deals, while U.S. stock futures edged higher after Wall Street remained shut on Monday due to the Memorial Day holiday. Investor sentiment remained cautious amid geopolitical uncertainty, volatility in crude oil prices, and expectations around the monthly F&O expiry session.

The United States carried out what it described as “self-defense” strikes on Iran, targeting missile launch sites and boats allegedly involved in laying naval mines. According to the U.S. Central Command, the action was aimed at protecting American troops while maintaining restraint amid ongoing ceasefire discussions. The developments have kept global investors on edge and added uncertainty to commodity markets.

U.S. Treasury yields eased after stabilising from last week’s sharp selloff. The yield on the 10-year U.S. Treasury note slipped to 4.5024 per cent, while the two-year yield stood at 4.0612 per cent.

Crude oil prices rebounded following reports of fresh military action involving Iran. Brent crude futures rose 1.5 per cent to USD 97.56 per barrel after tumbling 7 per cent in the previous session. U.S. West Texas Intermediate crude traded at USD 91.25 per barrel. Higher crude oil prices remain a concern for India due to their impact on inflation and import costs.

Gold prices declined as rising oil prices increased concerns over inflation and the possibility of interest rates staying elevated for longer. Spot gold fell 0.6 per cent to USD 4,544.33 per ounce, while spot silver slipped 0.8 per cent to USD 77.42 per ounce. Meanwhile, the U.S. dollar index remained under pressure and traded at 99.031 amid optimism surrounding a potential U.S.-Iran peace agreement.

From the derivatives perspective, the Put-Call Ratio stood at 1.29, indicating a mildly bullish undertone. On the Put side, the highest open interest addition was seen at the 24,000 strike, suggesting strong support around that level. On the Call side, the highest open interest among the nearest out-of-the-money strikes was concentrated at 24,500, indicating immediate resistance.

For Tuesday’s session, the 23,850–23,900 zone is expected to act as immediate support for the Nifty 50, while stronger support is placed near 23,262. On the upside, the index may face resistance in the 23,997–24,127 gap-down zone. A sustained move above 24,127 could trigger further upside towards 24,450–24,460. Market participants will closely watch whether the index manages to hold above its breakout zone and sustain strength above its 20-DMA and 50-DMA during the monthly derivatives expiry session.

Several companies are scheduled to announce quarterly earnings on May 26, including Oil and Natural Gas Corporation, Siemens, Brainbees Solutions, AstraZeneca Pharma India, Carraro India, EIH, Finolex Industries, Gujarat Fluorochemicals, Gandhar Oil Refinery (India), General Insurance Corporation of India, Indian Railway Catering and Tourism Corporation, JK Tyre & Industries, Apeejay Surrendra Park Hotels, Procter & Gamble Health, and Senco Gold.

For Tuesday’s trading session, Steel Authority of India (SAIL) remains under the F&O ban list.

On May 25, Foreign Institutional Investors (FIIs) were net buyers of Indian equities worth Rs 821.75 crore. Domestic Institutional Investors (DIIs) also remained buyers, purchasing shares worth Rs 3,856.88 crore.

Indian equity benchmarks rallied sharply on Monday amid broad-based buying interest. The Sensex surged 1,073.61 points, or 1.42 per cent, to close at 76,488.96, while the Nifty 50 advanced 312.40 points, or 1.32 per cent, to settle at 24,031.70.

Meanwhile, U.S. stock futures traded higher on Tuesday morning. Dow Jones futures gained 0.73 per cent, S&P 500 futures rose 0.78 per cent, and Nasdaq-100 futures climbed 1.14 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.

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