On May 12, 2026, the Indian stock market continued its downward trend for the fourth consecutive session, with the Sensex falling over 2,800 points (3.6%) and the Nifty 50 down more than 1%. Key factors contributing to this decline included Prime Minister Narendra Modi's austerity measures, stalled US-Iran peace talks, rising crude oil prices, and the Indian rupee hitting a record low. Amid this turmoil, Vodafone Idea emerged as one of the most traded stocks, with over 64 crore shares changing hands, despite a decline of more than 4%. The stock's drop followed a denial of communication regarding the Vodafone Group's stake transfer plan. Groww, another heavily traded stock, saw a 7% decline with over 50 crore shares traded, as existing investors reportedly sold their stakes. YES Bank also experienced a decline of over 2%, with more than 9 crore shares traded, despite a recent upgrade from Moody's Investors Service. In contrast, HFCL rose more than 3%, reaching a 52-week high of ₹153.55 after securing export orders worth $19.32 million for optical fibre cables.