Stock market today, May 12 -- The Indian stock market came under intense selling pressure on Monday, May 11, as investor sentiment turned negative following a sharp rise in crude oil prices after optimism around an imminent peace agreement in West Asia diminished. Market weakness was further aggravated by heavy selling in realty and consumer durable stocks after Prime Minister Narendra Modi called for a series of measures.

The Nifty closed 1.51% lower at 23,811, while the Sensex declined 1.73% to settle at 76,072. Both benchmark indices posted their steepest single-day fall since April 24.

However, the market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Tuesday. Gift Nifty was...