NIFTY50 at 23,949, SENSEX down 838 pts in afternoon session; SBI, Swiggy, Canara Bank, Titan Company among buzzing stocks

The equity benchmark indices declined sharply during the afternoon session on Monday, May 11, extending losses for a third consecutive day, as a renewed rise in crude oil prices and the lack of progress in US-Iran peace talks weighed on market sentiment.

At 1:33 PM, the S&P BSE SENSEX was down 838.3 points, or 1.08%, at the 76,489.89 level, while NSE’s NIFTY50 was trading at the 23,949.7 level, falling 226.45 points, or 0.94%.

Titan Company was the biggest laggard, declining 6.02%, followed by IndiGo (-4.57%), State Bank of India (-3.71%), Eternal (-3.59%) and Bharti Airtel (-3.28%).

On the flip side, Tata Consumer Products (6.78%), Max Healthcare (2.17%), Coal India (1.51%), Sun Pharma (1.35%) and Kotak Mahindra Bank (1.13%) were the top gainers on the 50-share index.

Buzzing stocks on May 11: Check list

Shares of gold jewellery companies such as Titan Company, Senco Gold, Kalyan Jewellers, Goldiam International, and Thangamayil Jewellery, among others, were trading with notable losses on Monday.

The stocks came under selling pressure as Prime Minister Narendra Modi urged the citizens to avoid non-essential gold purchases for one year in order to reduce pressure on foreign exchange outflows and encouraged them to prioritise Made-in-India and locally manufactured products, including daily-use items such as shoes, bags, and accessories.

Prime Minister Narendra Modi has urged people to limit non-essential gold purchases for a year, mainly to help India conserve foreign exchange reserves amid the ongoing West Asia crisis.

At the time of writing this article, Titan shares were trading 6.11% lower at ₹4,233.50 apiece on the NSE, while Senco Gold was down 8.91% at ₹332.85. P N Gadgil Jewellers was trading 7.97% lower at ₹670. Thangamayil Jewellery was down 4.35% at ₹4,062. Kalyan Jewellers India was trading over 8.9% lower at ₹386.75.

Shares of State Bank of India (SBI) tumbled as much as 4.35% to touch a three-month low of ₹975 per unit on Monday as its earnings for the March quarter of the 2025-26 financial year (Q4 FY26) failed to impress investors.

The country’s largest lender posted a 5.58% year-on-year (YoY) increase in its profit after tax (PAT) to ₹19,684 crore during the quarter under review, compared to ₹18,643 crore in Q4 FY25.

Its net interest income (NII) advanced 4.13% YoY to ₹44,380 crore in Q4 FY26, as against ₹42,618 crore in the same period of the previous financial year. However, its domestic net interest margin (NIM) fell by 21 basis points (bps) YoY to 2.93% for the reporting quarter, from 3.14% in the March quarter of FY25.

At around 1:20 PM, the stock was trading 3.87% lower at ₹979.90 per equity share.

Hyundai Motor India shares rallied as much as 5% on Monday to touch an intraday high of ₹1,944 a piece as analysts shared a positive outlook for the company post its March quarter earnings.

The carmaker reported a 22% decline in its consolidated net profit at ₹1,256 crore for the quarter ended March 31, 2026, as compared to ₹1,614 crore in the same quarter of the previous fiscal year. Its revenue from operations stood at ₹18,916 crore for the quarter under review as against ₹17,940 crore seen in the corresponding quarter last year, marking a growth of 5.4% year-over-year.

Hyundai Motor India outlined its outlook for FY27, including plans to launch two completely new nameplates to expand its presence in the SUV segment. Of these new launches, one will strengthen the firm’s position in the mid-SUV segment, while the other will mark the debut of our localised dedicated EV in the compact-SUV space.

At 1:23 PM, Hyundai Motor India shares were trading at ₹1,892.1 apiece on the National Stock Exchange, rising 2.12%.

Shares of JBM Auto surged as much as 7.38% to hit the high of ₹697.90 apiece on Monday ahead of the company's March quarter earnings (Q4 FY26).

Besides, shares were in demand following Prime Minister Narendra Modi's appeal to increase the use of public transportation and reduce fuel consumption amid rising crude oil prices and geopolitical tensions in West Asia.

According to market watchers, investors are viewing the appeal as a positive signal for companies linked to public mobility and electric transportation. JBM Auto, through its electric bus business, is a key beneficiary of India’s growing focus on sustainable and mass transit solutions.

In April 2026, JBM Auto said its 1,282 e-buses were registered across five states with a 24% market share in FY26.

At 1:35 PM, shares of JBM Auto were seen at ₹675.50 apiece on NSE, gaining 3.94%.

The tourism-related stocks came under pressure on Monday as Prime Minister Narendra Modi stressed the need to save foreign exchange due to the crisis and urged Indians to curb non-essential foreign travel for one year.

“The growing culture of weddings abroad, travelling abroad, and vacationing abroad is becoming prevalent among the middle class,” Modi said. “We should postpone travelling abroad for at least a year.”

Following this, tourism-related stocks were seen trading lower, with the Nifty India Tourism index tumbling 3.2% to an intraday low of 7,337.90 levels. For a three-month period, the gauge has lost 10%, while for six months’ time it has slipped 16%. All the 15 stocks on the index were trading in red on Monday.

Shares of IndiGo operator InterGlobe Aviation were the biggest laggard on the index, declining 5%, followed by GMR Airports (-4.13%), TBO Tek (-3.73%), Devyani International (-3.5%), Sapphire Foods India (-3.45%) and ITC Hotels (-2.89%).

Shares of Swiggy slipped 7% to hit a one-month low of ₹261.20 on Monday despite the food delivery and quick commerce reporting a narrowing of consolidated net loss to ₹800 crore for the March quarter of FY26. The company, which owns Instamart, had incurred a loss of ₹1,081 crore in the year-ago period.

However, for the full financial year 2025-26, Swiggy's net loss widened to ₹4,154 crore from ₹3,117 crore a year ago, on account of a rise in total expenses, including the purchase of stock-in-trade, advertising and sales promotion, delivery and related charges, among others.

Revenue in Q4 rose nearly 45% to ₹6,383 crore as against ₹4,410 crore a year ago. Total expenses also soared to ₹7,448 crore from ₹5,610 crore a year ago.

Shares of Canara Bank slipped as much as 3% to touch an intraday low of ₹130.5 apiece on Monday after the lender released its Q4 earnings.

The bank reported a 9.94% YoY decline in its standalone net profit to ₹4,505.57 crore in Q4 FY26. In the same period last year, it had clocked a profit of ₹5,002.66 crore, according to a regulatory filing.

The bank’s asset quality improved, as its gross non-performing assets (GNPA) contracted to 1.84% during the quarter under review, from 2.94% in Q4 FY25 and 2.08% in the quarter-ago period. Its net non-performing assets (NNPA) stood at 0.43% for the January-March quarter of FY26, down from 0.70% last year and 0.47% in Q3 FY26.