On May 12, 2026, the GIFT Nifty indicated a significant decline, dropping 215.50 points or 0.89% to 23,653. This downturn is attributed to rising geopolitical tensions in West Asia, particularly following US President Donald Trump's remarks about the ceasefire with Iran being on 'massive life support.' As a result, Brent crude oil prices rose to $104.99 per barrel, exacerbating concerns over supply disruptions in the Strait of Hormuz. In Asia, markets reflected mixed sentiments; while the Nikkei 225 and Hang Seng indices saw slight increases of 0.09% and 0.46%, respectively, the Kospi index halted its rally with a 3.12% decline. Investors are also keeping an eye on the Q4 earnings reports from various companies, including Bharat Petroleum Corporation and Dr. Reddy's Laboratories, which are set to be released today. Additionally, several initial public offerings (IPOs) are opening for subscription, including Goldline Pharmaceutical and RFBL Flexi Pack.