Indian equity benchmarks opened in the red on Monday as geopolitical tensions, rising crude oil prices, and concerns over foreign exchange outflows weighed on investor sentiment. Prime Minister Modi’s appeals to curb foreign exchange outflows and weak global cues from Wall Street futures added pressure to domestic markets.
At the opening bell, the BSE Sensex stood at 76,378.03 points, marking a decline of 950.16 points or 1.23 per cent. Similarly, the NIFTY 50 reached 23,900.25 points, down by 275.90 points or 1.14 per cent.
Gold Rate
May 11- 2026 - Time 10.30Hrs
The jewellery sector faced heavy selling pressure after Prime Minister Narendra Modi appealed to citizens on Sunday to conserve foreign exchange reserves. The Prime Minister requested the public to avoid unnecessary foreign travel, overseas vacations, and foreign weddings, encouraging domestic tourism instead. He also requested that people avoid non-essential gold purchases for one year to reduce pressure on foreign exchange outflows.
Stock prices for major jewellers reacted sharply as Senco Gold Limited dropped 8.98 per cent to Rs 332.60, while Titan Company Limited fell 5.34 per cent to Rs 4,268.10. Kalyan Jewellers India Limited saw a decrease of 7.43 per cent to trade at Rs 393.00, and PC Jeweller Limited declined by 3.89 per cent to Rs 9.13.
