# The NIFTY 50 slipped below the crucial 23,900 mark and was trading at 23,871.20.

*business · news · 2026-05-11 · Lokmat Times*

## Key points

- NIFTY 50 dropped below 23,900, marking a sharp decline amid broader market selloff.
- Prime Minister Modi’s call to reduce fuel, gold, and edible oil consumption triggered demand concerns.
- Nifty Consumer Durables index plunged nearly 4%, led by a 7.7% fall in Titan Company.
- Analysts interpret Modi’s comments as reflecting government worries about the import bill and current account deficit.
- Heavyweight financial stocks like SBI, HDFC Bank, and Axis Bank faced sustained selling pressure.

**Companies:** State Bank of India, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Maruti Suzuki, Mahindra & Mahindra, Bajaj Auto, Titan Company, Trent, Asian Paints, Bharti Airtel
**Countries:** India, Iran, United States

[Read the full story on Lokmat Times](https://www.lokmattimes.com/business/indian-stock-market-today-sensex-crashes-over-1000-points-nifty-slips-below-23900-as-global-tensions-trigger-massive-selloff-a475/)

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