After a sharp sell-off in the previous session, Indian markets are likely to start Wednesday on a muted note. Early signals from GIFT Nifty indicate a flat to muted opening, with the index trading 0.16% lower at 23,386 in early trade.
Global cues are expected to remain on investors' radar, with market participants tracking developments across West Asia, movement in crude oil prices, and trends in the US dollar. Asian market performance and foreign institutional investor activity are also likely to influence sentiment during the session.
On the domestic front, quarterly earnings announcements from listed companies will continue to drive stock-specific moves, with investors closely monitoring management commentary and business outlooks.
Previous session: Markets end lower
The domestic equity markets ended sharply lower on Tuesday, extending losses for the fourth consecutive session. The Nifty declined 436 points, or 1.83%, to close at 23,379.55, while the Sensex tumbled 1,456 points, or 1.92%, to settle at 74,559.
Key global and domestic cues to watch on May 13, 2026
Asian markets
Asia-Pacific markets opened on a weak note on Wednesday, with most major indices trading lower. Japan's Nikkei 225 declined 0.52%, while the broader Topix index managed to edge up 0.28%. In South Korea, the Kospi fell 2.15% and the small-cap Kosdaq slipped 0.74%. Australia's ASX 200 also traded lower, down 0.56% in early deals.
US Market
Wall Street ended on a lower note during Tuesday's session, with both the S&P 500 and Nasdaq Composite retreating from their record levels. The S&P 500 slipped 0.16%, while the tech-heavy Nasdaq Composite declined 0.71%. In contrast, the Dow Jones Industrial Average managed to stay in positive territory, rising 56.09 points, or 0.11%.
US dollar
The US Dollar Index (DXY), which measures the dollar's value against a basket of six foreign currencies, was trading 0.02% up at 98.32 on Wednesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc.
Rupee
The rupee appreciated 0.33% to close at 95.63 to the dollar on May 12.
Crude oil
Crude oil prices traded lower in early deals on Wednesday. West Texas Intermediate (WTI) crude slipped 0.57% to $101.56 per barrel, while Brent crude declined 0.61% to $107.16 per barrel.
Indian government raises import duty on precious metals
The central government has increased the customs duty on gold, silver and several other precious metal imports through a notification issued late Tuesday night. The revised rates came into effect from midnight and cover a wide range of products, including precious metals, jewellery components and certain industrial-use imports.
Following the revision, the total import duty on gold and silver has been raised to 10% from the earlier 6%. Platinum and related products used in jewellery manufacturing, such as hooks, clasps, pins and screw backs, will also now attract a 10% duty.
Gold rate today
In the international market, gold was trading at $4,732 per ounce.
Gold prices in India remain in sharp focus. On the MCX, June 5, 2026, gold futures were trading at Rs 1,53,417 per 10 grams in the latest update.
Silver rate today
Silver (XAG/USD) extended its rally. In the international market, silver was trading at around $88 per ounce.
FII, DII data
Foreign investors remained net sellers in the Indian market on May 12. FIIs/FPIs sold equities worth Rs 1,959 crore during the session.
On the other hand, domestic institutional investors continued to provide support. DIIs purchased shares worth Rs 7,990 crore
Key sectoral gainers in last trading session
In the last trading session, the Metals - Non Ferrous sector managed to stay in the green, rising 1.2%. Meanwhile, the Mining sector remained largely flat with a marginal decline of 0.12%, while REITs & InvITs also slipped slightly by 0.21%.
Best and worst performing business group in last trading session
In the last trading session, several business group stocks remained under pressure, though a few managed to end with gains. The Essar Group rose 4.87%, emerging as the top gainer among the tracked groups, while the Vedanta Group also advanced 2.01%. The Adventz Group saw a marginal rise of 0.47%.
On the losing side, the Shapoorji Pallonji Group declined 4.92%, while the Jaypee Group slipped 5.12%. The Somany Group recorded the sharpest fall among the listed groups, dropping 5.48% in the last trading session.
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