Pre-Market 12 May 2026: What To Expect After Sensex Crashes 1,313 Points; GIFT Nifty Signals Weak Start

Markets head into Tuesday after a sharp selloff in the previous session dragged benchmark indices to their lowest closing levels in nearly two weeks. The Sensex fell 1,313 points to close at 76,015.28, while the Nifty 50 declined 360 points to settle at 23,815.85 on 11 May 2026.

What Happened in Monday’s Session?

Indian markets witnessed broad-based selling through most of Monday’s trade, with pressure visible across rate-sensitive and consumption-linked sectors.

Investor sentiment weakened after Prime Minister Narendra Modi urged citizens to prioritise work from home, avoid international travel for a year and stay away from buying gold during this period. The comments triggered caution across sectors linked to discretionary spending and consumer demand.

The selloff wiped out nearly ₹6 lakh crore in the market capitalisation of BSE-listed companies in a single session.

Sectorally, Nifty Consumer Durables and Nifty Realty emerged as the worst-performing indices. The Nifty Smallcap 100 and Nifty Midcap 100 indexes ended the day down by -1.13% and -1.05%, respectively.

Additionally, the India VIX jumped by around 10%, indicating growing market anxiety and hedging activity.

Global Cues After Market Hours

Global markets remained mixed after Indian trading hours.

On Wall Street, benchmark indices paused after last week’s rally as concerns around stalled US-Iran talks weighed on sentiment.

On 11 May 2026, the Dow Jones Industrial Average rose 95.31 points or 0.19% at 49,704.47. The S&P 500 gained 13.91 points or 0.19% to trade at 7,412.84, while the Nasdaq Composite rose 27.05 points or 0.10% to 26,274.13.

Market sentiment remained cautious after US President Donald Trump rejected Iran’s response to a US peace proposal, raising concerns that the conflict could continue for longer than expected.

European markets closed mixed. The FTSE 100 Index rose 36.36 points or 0.36% to 10,269.43, while France’s CAC 40 Index declined 56.19 points or 0.69% to 8,056.38.

Japan’s Nikkei 225 Index rose 387.56 points or 0.62% to 62,805.44, while Hong Kong’s Hang Seng Index edged up 93.53 points or 0.35% to 26,500.37.

GIFT Nifty Update

GIFT Nifty was at 23,779.50, down 7.50 points or 0.03% as of 11 May 2026, 20:45 IST. The trend suggested another subdued opening for domestic equities after Monday’s sharp correction.

Technical Levels To Watch

Nifty has slipped below a key short-term support zone after Monday’s decline.

• Immediate support is now placed near 23,800

• A break below this level could drag the index towards 23,550 in the near term

• On the upside, resistance is seen around 24,000

• A move above 24,000 may trigger short covering and push the index towards 24,200

Also Read - Post Market, 11 May 2026

What Should Investors Expect Today?

Markets are likely to remain sensitive to global developments and volatility trends during Tuesday’s session.

Monday’s selloff has weakened near-term sentiment, especially after heavy selling across broader markets and rate-sensitive sectors. Traders may stay cautious in early trade as GIFT Nifty continues to signal a weak opening.

At the same time, the Nifty is trading close to an important support zone near 23,800. The market reaction around this level could decide whether selling pressure deepens further or stabilises in the short term.

Investors are also expected to track global market movements and any fresh developments around the US-Iran talks during the day.

Sources:

Reuters

CNBC TV18