GIFT Nifty Opening Update
GIFT Nifty opened today at 23,745.00. It is down -136.00 points (-0.57%) from yesterday’s close of 23,787.00— so the trend is negative.
On Monday, May 11, the Indian stock market experienced significant selling pressure as investor sentiment soured. This shift followed a notable increase in crude oil prices, which came after hopes for a forthcoming peace agreement in West Asia faded. The market’s decline was intensified by significant selling pressure in the real estate and consumer durable sectors following Prime Minister Narendra Modi’s announcement of a range of measures. The Nifty finished the day down 1.51% at 23,811, and the Sensex dropped 1.73% to close at 76,072. Both benchmark indices experienced their most significant single-day decline since April 24.
However, the market appears poised to extend its downward trajectory, as indications from the Gift Nifty index suggest a negative opening on Tuesday. Gift Nifty was positioned around the 23,738 level, reflecting a decline of more than 48.50 points compared to the last closing of Nifty futures. “Markets are likely to witness a cautious start today after Monday’s sharp selloff, with Gift Nifty indicating a negative opening near the 23,750 zone. The domestic market enters the session under pressure after benchmark indices corrected nearly 1.5–1.7% in the previous session amid rising geopolitical tensions and a spike in crude oil prices,” said Hariprasad K.
With the market indicating a downward trend, certain stocks are expected to attract attention on Monday based on their individual positive or negative catalysts. In light of current market conditions, here are the top 10 stocks to watch on Tuesday, 12 May –
Equities to Monitor:
- Tata Power, Dr Reddy’s, Dixon Technologies, and Nazara Technologies are set to attract attention as they announce their Q4 results today.
- Indian Hotels – The organization exhibited a strong performance in the fourth quarter, with consolidated net profit rising 14.9% year-on-year to Rs 600 crore, compared to Rs 522.3 crore in the corresponding quarter of the prior year.
- JBM Auto – The organization demonstrated consistent performance in the fourth quarter, with consolidated net profit rising 11.9% year-over-year to Rs 74.2 crore, compared to Rs 66.3 crore in the same period last year.
- Bank of Baroda aims for a 10% increase in its Rs 4.56 lakh crore corporate loan portfolio by FY27 and has pinpointed a current pipeline of substantial loans totaling Rs 50,000 crore.
- Ather Energy announced on Monday that sales of its Rizta electric scooter have exceeded 300,000 units within two years of its launch, establishing it as the firm’s top-selling model.
- HFCL has secured export contracts amounting to approximately $19.32 million for the provision of optical fiber cables to prominent international customers.
- Bharat Forge has entered into a long-term contract with Embraer to produce and provide essential landing gear forgings, establishing itself as the inaugural Indian supplier within Embraer’s worldwide aerospace supply chain for forged components.
- Adani Ports and Special Economic Zone – Pranav Choudhary has resigned from his position as CEO – Ports at Adani Ports to pursue opportunities beyond the Adani Group, with his departure effective May 31. In the interim, the Board has appointed Niraj Bansal as the new CEO – Ports, effective June 1.
- JSW Energy achieved unprecedented EBITDA in the March quarter, driven by capacity expansion, strong operational performance, and contributions from recent acquisitions, despite a decline in net profit relative to the same period last year.
- Satin Creditcare Network reported a significant rise in its fourth-quarter profit on Monday, May 11, attributed to steady loan growth and robust asset quality despite challenging market conditions.