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Stock market today: The Indian stock market closed in the red on Friday, marking its second straight session of losses, amid selling pressure in heavyweight index stocks. The Sensex declined 516.33 points, or 0.66%, to end at 77,328.19, while the Nifty 50 fell 150.50 points, or 0.62%, to settle at 24,176.15.
However, the market is likely to continue its losing streak as trends in the Gift Nifty index signalled a negative opening on Monday. Gift Nifty was trading near the 24,092 mark, down over 142 points from the previous close of Nifty futures.
“On the domestic front, institutional flows, rupee movement and sectoral participation—particularly within banking and energy-linked stocks—are expected to remain key drivers of market direction. While selective domestic buying is offering some support to benchmark indices, foreign institutional investor (FII) activity will be closely monitored amid continued selling pressure in recent sessions. Overall, market sentiment remains highly news-driven and volatile, with geopolitical developments, crude oil trends and institutional flow dynamics likely to dictate the near-term trajectory,” said Ponmudi R, CEO of Enrich Money.
Canara Bank, Indian Hotels, and JSW Energy are among the stocks in focus as they are scheduled to report their Q4 results on May 11th.
The Indian stock market is expected to have a negative opening on May 11th, as indicated by the Gift Nifty index trading lower. Market sentiment remains volatile and news-driven.
Swiggy reduced its losses in the fourth quarter to ₹800 crore, compared to ₹1,081 crore in the same period last year.
Key drivers for the market include institutional flows, rupee movement, sectoral participation (especially banking and energy), foreign institutional investor (FII) activity, and geopolitical developments like the US-Iran situation.
Multi Commodity Exchange of India reported a consolidated net profit of ₹530 crore for the March quarter, a significant 291% year-on-year increase from ₹135 crore in the corresponding period last year.
As the market is pointing towards a negative start, some stocks are likely to remain in focus on Monday due to their own positive/negative triggers.
Amid this backdrop, these are the top 10 stocks that will remain in focus on Monday, 11 May -
Shares of Canara Bank, Indian Hotels, JSW Energy will remain in focus as companies will report Q4 results today.
Online food delivery platform Swiggy reduced its losses to ₹800 crore in the fourth quarter, compared to ₹1,081 crore in the year-ago period and ₹1,065 crore in the December quarter.
Multi Commodity Exchange of India reported a consolidated net profit of ₹530 crore for the quarter ended March, compared with ₹135 crore in the corresponding period last year, marking a sharp 291% year-on-year jump.
The company posted a net loss of ₹161.2 crore in Q4, sharply wider than the profit of ₹2.84 crore recorded in the corresponding quarter last year, despite a 42.6% year-on-year jump in revenue to ₹425.6 crore from ₹295.5 crore.
Tata Consumer Products on Friday reported a consolidated net profit of ₹419 crore for the fourth quarter, marking a 21% increase from ₹345 crore recorded in the corresponding quarter of the previous year.
The company lagged the industry in terms of volume growth. Net profit declined 22% year-on-year to ₹1,256 crore, while revenue increased 5% to ₹18,916 crore.
The lender has projected deposit growth of 10% to 12% for FY27, while Net Interest Margins (NIMs) are expected to remain between 2.75% and 2.95% during the financial year.
The healthcare company posted a net loss of ₹22.9 crore in the fourth quarter, against a net profit of ₹11.2 crore in the same period last year, while its revenue slipped 0.9% year-on-year to ₹143.6 crore.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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