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Stock market live: Sensex sinks 1,200 points, Nifty down 400 amid weak global cues

Sensex and Nifty opened sharply lower on Monday amid weak global cues, rising crude oil prices, and continued foreign investor selling.

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Domestic stock markets opened sharply lower on Monday, tracking weak global signals and rising geopolitical tensions that pushed crude oil prices higher and weighed on investor sentiment.

The Sensex fell over 1,400 points in early trade, slipping to 73,080.35 at 9:17 am, while the Nifty50 dropped 412.40 points to 22,702.10. Selling pressure was visible across the market, with all Sensex constituents trading in the red during early sessions.

Global markets weak, Asian indices fall

Asian markets also saw sharp declines. Japan’s Nikkei 225 and Topix fell significantly, while South Korea’s Kospi dropped heavily, triggering a temporary trading halt after futures fell sharply. Markets in Australia and Hong Kong also opened lower, reflecting global risk-off sentiment.

Last Friday, US markets ended lower as well, with the S&P 500 falling 1.51% and the Dow Jones Industrial Average declining 0.96%, setting a weak tone for global equities.

Rupee hits fresh low, oil prices surge

The Indian rupee opened 12 paise lower at a fresh low of 93.83 against the US dollar on Monday. The currency had settled at 93.71 on Friday.

Rising crude oil prices remain a major concern for markets. Brent crude, the global benchmark, has surged more than 50% since the beginning of the war, increasing inflation concerns and raising uncertainty over global interest rate cuts.

Outlook remains volatile

Market indicators had already suggested a gap-down opening, with GIFT Nifty trading lower earlier in the morning compared to the previous Nifty close.

Experts expect high volatility in the near term due to continued foreign investor selling, rising crude oil prices, and global geopolitical tensions. Analysts suggest cautious trading and selective investment strategies until global conditions stabilise and foreign investor outflows slow.

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Those who want to leave can go: Mamata Banerjee after Trinamool’s poll setback

Mamata Banerjee has told Trinamool Congress leaders that those who wish to leave the party are free to do so after its electoral defeat, as she pushes for organisational rebuilding.

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West Bengal Chief Minister Mamata Banerjee has sent a strong message to party members amid internal unrest following the Trinamool Congress’ electoral defeat in the 2026 Assembly elections, saying those who wish to leave the party are free to do so.

The remarks come as the TMC grapples with its worst electoral performance in years and growing dissatisfaction within its ranks.

‘Will not stop anyone from leaving’

At a recent internal review meeting with party candidates, Banerjee reportedly told leaders that she would not attempt to hold back anyone planning to exit the party. She emphasised that the organisation would move forward with those who remain committed.

According to party sources, she said she would focus on rebuilding the organisation from the ground up, including restoring party offices and strengthening grassroots-level structures.

Push for rebuilding the organisation

Banerjee also called for detailed, area-wise reports from party workers and directed them to hold meetings at block and town levels to assess the reasons behind the defeat.

She further indicated that the party would undergo internal restructuring, with efforts aimed at reviving organisational strength at the local level.

Fact-finding teams and internal review

As part of the post-poll exercise, the Trinamool Congress has also set up multiple fact-finding teams to examine alleged irregularities in key districts.

These developments highlight growing internal churn within the party as it attempts to recover from its electoral setback and rebuild its support base.

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Abhishek Banerjee charged over alleged provocative speeches during Bengal polls

Abhishek Banerjee has been charged after a complaint alleged he made provocative remarks during the West Bengal election campaign.

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Abhishek Banerjee

Trinamool Congress leader Abhishek Banerjee has been charged following allegations that he delivered provocative speeches during the West Bengal Assembly election campaign.

According to reports, the complaint was filed by a social worker identified as Rajiv Sarkar on May 5. The complaint alleged that the Diamond Harbour MP made inflammatory remarks at multiple campaign events held between April 27 and May 3.

The allegations also claimed that remarks made by Banerjee included threats directed at Union Home Minister Amit Shah during the heated election campaign in West Bengal.

Reports said the case was registered at the Bidhannagar North Cyber Crime Police Station. The development comes amid continuing political tensions in the state after the recently concluded Assembly elections.

The Trinamool Congress and the BJP have been engaged in sharp exchanges following the election results and subsequent allegations linked to violence and political targeting in different parts of the state.

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MP High Court declares Bhojshala complex a temple dedicated to Goddess Saraswati

The Madhya Pradesh High Court has declared the disputed Bhojshala-Kamal Maula complex in Dhar a temple, while allowing the Muslim side to seek alternative land for a mosque.

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The Madhya Pradesh High Court has declared the disputed Bhojshala-Kamal Maula complex in Dhar district as a temple dedicated to Goddess Saraswati, marking a major development in the long-running dispute over the religious character of the site.

The court said the religious character of the disputed area is that of Bhojshala, which the Hindu side identifies as a Saraswati temple. The Muslim side has historically maintained that the complex functions as the Kamal Maula Mosque.

According to the ruling, the Muslim community may approach the state government for allotment of suitable land within Dhar district for construction of a mosque or prayer site.

The High Court also set aside an Archaeological Survey of India circular issued in 2003 that had permitted Muslims to offer prayers at the site on Fridays.

Long-running dispute over Bhojshala

The Bhojshala complex has remained at the centre of a decades-old dispute involving Hindu and Muslim groups. Hindus consider it a temple dedicated to Vagdevi or Goddess Saraswati and associate it with the era of Raja Bhoj. Muslims have maintained that the site has functioned as the Kamal Maula Mosque for centuries.

The matter gained renewed attention after the Madhya Pradesh High Court ordered a scientific survey of the site by the Archaeological Survey of India in 2024. The ASI later submitted a detailed report before the court regarding the historical and structural features of the complex.

Earlier this year, the High Court had also conducted a site inspection before continuing hearings in the matter.

Security arrangements have reportedly been tightened in Dhar following the verdict to maintain law and order.

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