May 12, 2026
Domestic stock markets ended with deep cuts on Tuesday, extending their losing streak for the fourth day in a row amid significant selling across the board but more prominently in IT, banks, auto and consumer stocks. While Nifty plunged 436.30 points or 1.83% to close at 23,379.55, the BSE Sensex settled at 74,559.24, down 1456.04 points or 1.92%. Here are 6 stocks that saw action today:
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IT stocks ended with sharp cuts on Tuesday following OpenAI’s latest launch of ‘OpenAI Deployment Company’, retriggering worries around AI-led disruption in the sector. The Nifty IT index closed 3.7% lower with all 10 stocks closing in the red. Tech Mahindra which fell 4.2% was the top Nifty loser. LTIMindtree plunged nearly 5%. Heavyweights like Infosys, TCS, HCL and Wipro between 3% and 4%.
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Massive selling in the IT sector led to a sharp correction in realty stocks as any hit to the sector has a direct impact on commercial and residential real estate in major IT centers. The Nifty Realty index fell over 4% with all 10 stocks closing in the red. The worst losers were Anant Raj, Prestige Estates and Lodha Developers, which fell 6.25%, 5.50% and 5%, respectively.
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Shares of Thangamayil Jewellery ended 8% lower at Rs 3,670 on the NSE amid selling pressure in jewellery stocks. The fall could be attributed to weak sentiments in the overall markets and PM Narendra Modi's appeal to postpone jewellery buying for one year. Titan ended 3% lower.
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The shares of Vodafone Idea dropped nearly 4% intraday before closing at Rs 11.89, down 2.38% after the telecom giant issued a clarification on a report claiming that its parent Vodafone Plc plans to transfer part of its stake to the company itself, which sparked an 8% rally in the share price yesterday.
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Shares of metal major Vedanta rallied as much as 4% intraday before closing at Rs 305.95, up by Rs 7.55 or 2.53% after the Centre reduced royalty rates on the production of crude oil and natural gas from several categories of fields, including deepwater and ultra-deepwater blocks, in a move aimed at boosting domestic exploration and production. The revised rates were notified by the Ministry of Petroleum and Natural Gas on May 8.
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Shares of Oil and Natural Gas Corporation closed nearly 5% higher at Rs 294.50 after Hong Kong-based brokerage CLSA termed the government’s latest move to cut upstream royalty rates a “big positive” for the state-run explorer and the broader upstream oil and gas sector.
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