On May 11, 2026, Indian stock markets saw significant declines, with the Nifty 50 dropping 1.49% and the Sensex falling 1.7%, marking their largest single-day losses since March 30. The downturn followed Prime Minister Narendra Modi's public call for consumers to limit their use of fuel and purchases of gold. These remarks contributed to investor apprehension regarding inflationary pressures and the broader economic outlook. The market reaction reflects sensitivity to government signals on consumption, which can influence demand patterns and inflation trends in India. Key sectors impacted include energy and commodities, given the focus on fuel and gold consumption. On Monday, the Nifty 50 and the Sensex marked their steepest single-day fall since 30 March, slumping 1.49% and 1.7%, respectively.