Taking Stock: Selling at fag-end wipes off gains, Sensex, Nifty end flat

However, the sustained support from FIIs is guarding the domestic market from a steep correction, some analysts pointed out.

On May 9th, there was a late sell-off in the market which erased the early gains, as traders decided to book profits due to concerns over some upcoming data points. The US is scheduled to release inflation data, which will set the tone for the Federal Open Market Committee's (FOMC) next meeting.

Some analysts are worried that if the US inflation rate, which is expected to remain unchanged at 5% from March, continues to be high, the Fed will remain stricter for a longer period. However, sustained support from foreign institutional investors (FIIs) is preventing a steep correction in the domestic market.

The Nifty 50 index closed at 18,265.95, rising by 1.55 points or 0.01%. Meanwhile, the BSE flagship Sensex ended the day nearly flat, down 2.92 points at 61,761.33.

According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, "Global cues were mixed as investors keenly await US inflation data as this will set the tone for FOMC's next meeting. Apart from global cues and Q4 earnings, the domestic market will also watch for the Karnataka assembly election that will start on Wednesday. The outcome of the election will be announced on 13th May. While the Nifty is finding some profit booking at higher levels, the overall market structure remains positive."

Stocks and sectors

In the Nifty pack, Divi’s Labs was the largest gainer, followed by IndusInd Bank, Coal India, TCS and Axis Bank. UPL was the biggest loser, down 3.03 percent followed by SBI, ITC and Bajaj Finance.

Sectoral matrix was mixed. Nifty PSU Bank was the biggest loser, down over 2 percent followed by Nifty Realty. Nifty IT and Nifty Auto was among gainers.

OUTLOOK for May 10

Index	Prices	Change	Change%
Sensex	82,626.23	-387.73	-0.47%
Nifty 50	25,327.05	-96.55	-0.38%
Nifty Bank	55,458.85	-268.60	-0.48%

Nifty 50 25,327.05 -96.55 (-0.38%)

Fri, Sep 19, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Adani Enterpris	2,524.00	122.00	+5.08%

Biggest Loser	Prices	Change	Change%
HCL Tech	1,467.40	-26.40	-1.77%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	7397.75	93.75	+1.28%

Worst Sector	Prices	Change	Change%
Nifty Bank	55458.85	-268.55	-0.48%

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

Markets mostly moved in tandem with global equities, which were sluggish to negative. After exhibiting some volatility in the early session, markets lingered in negative territory for the better part of the trading session and ended almost flat as investors resorted to selective profit-taking after the sharp spike in recent sessions. The sharp appreciation in rupee could be hinting that overseas investors may offload local shares if the trend continues.

On daily charts the Nifty has formed a small bearish candle which indicates indecisiveness between the bulls and bears. As long as the index is trading above 18200, the positive sentiment is likely to continue and could rally till 18350-18400. On the flip side, a quick intraday correction is possible if the index trades below 18200. Below which the index could slip till 18150-18100.

Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One

We remain sanguine on the market with a bullish undertone. Also, one needs to keep a close tab on the mentioned levels and utilize declines to add long in the system. Simultaneously, individual pockets are comparatively performing well, and traders need to focus on the stock-specific approach to gauge trading opportunities.

Rupak De, Senior Technical analyst at LKP Securities

The Nifty index traded within a tight range of 18345 and 18229 throughout the day, showing a lack of strong directional momentum. However, the index remained above critical moving averages, which could indicate underlying strength in the market. Additionally, the Relative Strength Index (RSI) showed a positive crossover, suggesting bullish momentum.
Overall, the outlook for the Nifty index remains positive, with technical indicators signaling potential for further upside. The sentiment remains positive until it falls below 18200 decisively.