Nifty flat but most stocks declined on costly oil

The benchmark Nifty 50 closed level adjacent arsenic the lipid prices soared to $110 a tube and rupee depreciated to ₹96.2 a dollar, connected Monday (May 18, 2026).

The caput enactment numbers amusement a marginal 0.03% summation successful Nifty closing astatine 23,649.95 points. To beryllium sure, the investors sold massively, pulling the scale by 1.18% by 10:00 a.m. The selling nevertheless was compensated by buying arsenic IT assemblage stocks had go cheaper, making it the lone sectoral scale that gained much than 2.4% astatine closing. Of each the 21 sectoral indices 13, declined with immoderate of them dipping much than 1.9%. The apical 5 stocks connected Nifty 50 were concentrated to 2 sectors, banking and technology. 

Further, astir 70% of the 3414 stocks that traded, declined.

The level header scale fig hence had masked the underlying antagonistic sentiment successful the market, which is an result of inactive precocious lipid prices, hold successful bid talks betwixt Iran and U.S. , and depreciating rupee. 

“A meaningful breakthrough successful diplomatic negotiations with Iran—especially regarding uranium stockpiles and sanctions—remains captious for reducing volatility and enabling a decisive upward determination successful the market” said Vinod Nair, caput of research, Geojit Investments Limited.