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May 11, 2022 / 04:21 PM IST

Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower; banks shine, IT, auto drag

Among sectors, bank and realty indices were up 0.5 percent each, while IT, auto, FMCG, pharma, power and capital goods indices shed 0.5-1 percent.

  • IndexPricesChangeChange%
    Sensex54,178.46427.49 +0.80%
    Nifty 5016,132.90143.10 +0.89%
    Nifty Bank34,920.30596.05 +1.74%
    Nifty 50 16,132.90 143.10 (0.89%)
    Thu, Jul 07, 2022
    Biggest GainerPricesChangeChange%
    Hindalco361.6520.70 +6.07%
    Biggest LoserPricesChangeChange%
    Dr Reddys Labs4,336.45-53.55 -1.22%
    Best SectorPricesChangeChange%
    Nifty Metal4842.20176.90 +3.79%
    Worst SectorPricesChangeChange%
    Nifty FMCG40708.70-31.50 -0.08%


  • May 11, 2022 / 04:44 PM IST

    Palak Kothari, Research Associate at Choice Broking:

    The Nifty has formed a Hammer Kind of candlestick pattern on a daily chart which indicates value buying from lower levels. Moreover, Nifty has taken support from the lower band of Bollinger on a Four- hourly chart which is a sign of short-term reversal in the counter. 

    However, the momentum indicators RSI bounced from oversold zone as well as divergence has been seen on an hourly chart which indicates bounce back momentum. 

    The Nifty may find support around 16000 levels, while on the upside 16400 may act as an immediate hurdle for the Nifty and crossing above the same can attract fresh buying. On the other hand, Bank Nifty has support at 33800 levels while resistance at 35500 levels.

  • May 11, 2022 / 04:43 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Investors continue to remain wary despite global markets trading in green due to drop in domestic investors confidence & FII selling. 
    The market turned volatile waiting for the release of April US inflation data, which is expected to cool down marginally. Inflation will continue to be elevated but the chance of major reactions is low because it has been factored in by the markets. 

    The major determinant for market direction would be the pace of decline in inflation in response to the Fed measures.

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  • May 11, 2022 / 04:19 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    Markets displayed volatility but moved in a range before ending lower, as investors pruned their holding in IT, telecom & automobile stocks. Lack of fresh positive cues is forcing investors to dump equities and switch to safer havens like gold, etc. 

    Although, the larger texture of the market is still on the bearish side, we could see a sharp pullback rally in the near future due to markets being in an oversold territory. 

    For the traders, 16000 would act as a sacrosanct support level and above the same a pullback rally is likely to continue up to 16300-16400 levels. On the flip side, dismissal of 16000 could increase further weakness up to 15940-15900.

  • May 11, 2022 / 04:04 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities

    Nifty recovered smartly from the day's low before closing with a marginal loss. On the lower end, it found support at 16000 as it closed at 175 points off the day's low. 

    On the daily chart, a large lower wick indicates buying at the lower level. On the higher end, the Nifty is likely to move towards 16400. On the lower end, support is seen at 16100/15950.

  • May 11, 2022 / 04:01 PM IST

    Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

    The Bank Nifty index witnessed a smart recovery from the lower levels. The index however needs to close above the level of 35000 for resuming the move towards the levels of 36000. 

    The downside support stands at the 34200-34000 zone and a break below this will only lead to a fresh round of selling. The momentum oscillators are already in oversold territory and a minor pullback cannot be ruled 

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  • May 11, 2022 / 03:47 PM IST

    Rupee Close:

    Indian rupee ended 9 paise higher at 77.23 per dollar against Tuesday's close of 77.32.

  • May 11, 2022 / 03:40 PM IST

    S Ranganathan, Head of Research at LKP securities:

    Indices displayed extreme volatility today ahead of the CPI & IIP data this week. While we did see a sharp recovery in Indices during afternoon trade, the market breadth was very weak with several stocks in the broader market taking a big knock-on selling pressure as the Small-Cap Index lost 3%.

  • May 11, 2022 / 03:36 PM IST

    Market Close: Indian benchmark indices ended lower for the fourth straight session with Nifty closing below 16,200.

    At Close, the Sensex was down 276.46 points or 0.51% at 54,088.39, and the Nifty was down 72.90 points or 0.45% at 16167.10. About 787 shares have advanced, 2531 shares declined, and 116 shares are unchanged.

    Shree Cements, Bajaj Finserv, Larsen and Toubro, Bajaj Finance and NTPC were among the top Nifty losers, while gainers included ONGC, Axis Bank, IndusInd Bank, Cipla and HDFC.

    Among sectors, bank and realty indices were up 0.5 percent each, while IT, auto, FMCG, pharma, power and capital goods indices shed 0.5-1 percent.

    BSE midcap index shed 0.4 percent and smallcap index fell 2.2 percent

  • May 11, 2022 / 03:31 PM IST

    Indiabulls Housing Finance shed 20 percent

      Indiabulls Housing Finance shed 20 percent
  • May 11, 2022 / 03:23 PM IST
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  • May 11, 2022 / 03:21 PM IST

    Buzzing

    Gujarat Gas share price rose 5 percent on May 11 after company clocked a 27.6 percent year-on-year growth in consolidated profit at Rs 444.4 crore in quarter ended March 2022 despite higher input cost, led by strong topline and operating income. Revenue surged 36.5 percent to Rs 4,773.4 crore during the same period.

     Buzzing  

 Gujarat Gas share price rose 5 percent on May 11 after company clocked a 27.6 percent year-on-year growth in consolidated profit at Rs 444.4 crore in quarter ended March 2022 despite higher input cost, led by strong topline and operating income. Revenue surged 36.5 percent to Rs 4,773.4 crore during the same period.
  • May 11, 2022 / 03:17 PM IST

    Today’s Stock Market Action

      Today’s Stock Market Action
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