On Wednesday, the benchmark indices ended in the red. At the time of market closing, Sensex slid 276.46 points or 0.51 per cent to end at the 54,088.39 level while Nifty was down by 72.90 points or 0.45 per cent at 16,167. 

The banking and realty sector lend support to the market today as most other sectors close in red territory. At the closing bell on May 11, the Sensex gave up 276 points or 0.5 per cent to close at 54,088.39, while the Nifty index lost 73 points or 0.5 per cent to settle at 16,167.10. Kalyan Jewellers, Gujarat Ambuja Exports and V.I.P. Industries witnessed positive action in today’s session.  

Maruti Suzuki India Ltd informed the exchange about consolidated financial results issued by Suzuki Motor Corporation in Japan.

During mid-afternoon trade, the domestic equities came close to a flat line, shrinking major cuts. All sectors closed in the red with the exception of finance, bankex, oil & gas, and realty. On Wednesday, the European stocks were up across the board while Asian markets were mainly up. In Europe, German inflation hit 7.4 per cent in April, the highest level since 1981.  

Markets have been trending down in April 2022, and the consequence may be seen in net inflows for the month. Continue reading to know more.

Indices witnessed a splendid recovery towards the end and Nifty recovered about 180 points to close at 16,167.10.

Mahanagar Telephone Nigam Ltd, Gujarat Gas Ltd and Elecon Engineering Co Ltd are today’s mid-day movers. 

Only the Bankex sector, out of all others, witnessed buying. During the session, metal, IT, and FMCG equities were among the worst performers. Inflation in the consumer sector also increased faster than projected. The consumer price index (CPI) increased by 2.1 per cent from a year ago, the quickest rate in five months, after growing by 1.5 per cent in March. 

At noon on Wednesday, the core equity indices i.e., Sensex and Nifty 50 fell sharply amidst weak global cues. Asian markets gained as the inflation data released by the Chinese Government was not as bad as expected. This proved to be a relief for the Asian markets, which were trading higher by 1 per cent.

In the tussle between the bulls and the bears, the bulls seemed to overpower the bears today.