Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, opened sharply lower on Monday, 18 May, while the rupee slipped to a fresh record low, after crude oil prices surged following a drone attack on a nuclear power facility in the United Arab Emirates, escalating tensions in the Middle East.
Investor sentiment also weakened after US President Donald Trump warned that “the clock is ticking” for Iran, signalling stalled diplomatic efforts to resolve the ongoing conflict.
The Nifty 50 declined 1.1% to 23,391.9, while the Sensex dropped 1.16% to 74,374.04 in early trade.
Selling pressure was broad-based, with all 16 major sectoral indices trading in the red. The broader market also saw sharp weakness, with small- and mid-cap indices falling 1.5% and 1.2%, respectively.
Meanwhile, the Indian rupee hit a fresh all-time low amid surging crude prices, which also pushed global bond yields higher.
Brent crude climbed to nearly $112 per barrel, marking a two-week high, while broader Asian markets declined around 0.8%.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
Persisting macroeconomic pressures continued to weigh heavily on market sentiment. Nifty 50 lost 2.2% for the week to settle at 23,644. Smallcap index seen profit booking after recent spectacular up move, down 4.5%. Sectorally, barring pharma & metal all major indices ended in red wherein realty, IT, auto remained the biggest loser.
Technical Outlook
Index failed to sustain intra-week recovery attempt. As a result, weekly price action price action formed a bear candle with a lower shadow, that reinforces corrective bias.
Stock To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Caplin Point Laboratories shares.
Buy Caplin Point in the range of ₹1,990-2,020. He has Caplin Point share price target of ₹2,230 with a stop loss of ₹1,875.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 15/05/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
