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Stock markets tank 2 pc as elevated oil prices, US-Iran tensions weigh on sentiment

Mumbai, May 12 (PTI) Equity benchmark indices ended lower for the fourth consecutive session on Tuesday, with the Sensex and Nifty tumbling nearly 2 per cent, as elevated crude oil prices and uncertainty surrounding the West Asia conflict clouded markets’ confidence. Unabated foreign fund outflows and the rupee depreciating to a lifetime low also hit investor sentiment. Amid a widespread sell-off, the 30-share BSE Sensex tanked 1,456.04 points, or 1.92 per cent, to settle at 74,559.24. During the day, it dived 1,565.78 points, or 2 per cent, to 74,449.50. The 50-share NSE Nifty dropped 436.30 points, or 1.83 per cent,

Rupee falls to record low of 95.63 against US dollar

Mumbai, May 12 (PTI) The rupee depreciated 35 paise to close at an all-time low of 95.63 (provisional) against the US dollar on Tuesday, as renewed tension between the US and Iran has led to risk aversion in global markets. Forex traders said market sentiment remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after President Donald Trump rejected Tehran’s latest response to a US-backed peace proposal, calling it totally unacceptable. Moreover, market participants interpreted Prime Minister Narendra Modi’s comments over the weekend regarding fuel conservation and lower imports as a subtle acknowledgement that India’s

In a trial pitting him against Elon Musk, nobody has more to lose than OpenAI CEO Sam Altman

OAKLAND, Calif., May 12, 2026 (AP) — In a trial featuring a clash between Elon Musk and OpenAI CEO Sam Altman, neither of the tech titans has emerged as an overly sympathetic character. But nobody has more to lose than Altman, who is expected to take the stand this week to defend himself. Already, testimony about Altman’s turbulent tenure at the ChatGPT maker has become prime fodder for internet jokes. One piece of evidence that has inspired countless memes was a text exchange between Altman and a company officer, Mira Murati, in 2023 during his short-lived ouster as CEO, when

Stock markets drop in early trade as oil prices, US–Iran conflict weigh on sentiment

Mumbai, May 12 (PTI) Equity benchmark indices tumbled in early trade on Tuesday amid rising crude oil prices as uncertainty surrounding the West Asia conflict clouded markets’ confidence. Unabated foreign fund outflows also dragged the markets lower. The 30-share BSE Sensex fell by 525.44 points to 75,489.84 in early trade. The 50-share NSE Nifty dropped 164.5 points to 23,651.35. From the 30-Sensex firms, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech, Adani Ports and Bajaj Finserv were among the major laggards. Bharti Airtel and NTPC were the winners. Brent crude, the global oil benchmark, traded 0.93 per cent higher at

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