Stock market today, 11 May 2026: Amid weak global cues and renewed geopolitical concerns, the key benchmark indices of the Indian stock market remained under pressure throughout the Friday session and finished lower. The Nifty 50 index finished 150 points lower at 24,176. The BSE Sensex crashed 516 points and closed at 77,328. The Bank Nifty index nosedived 736 points, closing at 55,310.
The weakness was largely led by banking and financial stocks, while IT and pharma showed relative resilience. Broader markets, however, outperformed the benchmarks, with midcap and smallcap indices ending flat to marginally positive, reflecting continued stock-specific interest.
What Gift Nifty signals?
The Gift Nifty Live Chart is signalling a gap-down opening as the index is trading red, losing around 190 points. The index opened lower at 24,217, and touched an intraday low of 24,051. By 7:00 AM, the index is trading around 190 points lower at 24,052.
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AI powered insights from this story
Gift Nifty is signaling a gap-down opening for the Indian stock market as it is trading in the red, indicating a negative start. The index has been losing points in the early morning session.
US-Iran tensions and the failure to reach a peace agreement have caused crude oil prices to surge. The ongoing conflict and concerns about energy supply are driving up prices for Brent crude and WTI.
The Nifty 50 is facing resistance around 24,400 and support at 24,000 or the 50-day SMA. For Sensex, 78,000 is resistance and 76,500 is support. A breach of these levels could accelerate selling pressure.
Several stocks have been recommended for buying, including Carborundum Universal, UNO Minda, PNB, LIC, Lodha Developers, Bharat Wire, M&M Financial Services, Morepen Laboratories, Reliance, and AU Small Finance Bank, with specific target prices and stop losses provided.
Following the rise in crude oil prices, gold rates are under pressure and have slipped below $4,700. Silver rates have seen some buying interest at lower levels after hitting an intraday low.
Expecting a gap-down opening on Monday, Ponmudi R, CEO of Enrich Money, said, “The Indian equity markets are likely to trade with a cautious undertone, as investors continue to navigate evolving geopolitical developments and mixed global cues.”
US-Iran news
According to the news agency Bloomberg, US President Donald Trump said that Iran’s latest response to his proposal to end the 10-week conflict with the US is “TOTALLY UNACCEPTABLE” as the two sides continue to maintain a fragile ceasefire.
“I have just read the response from Iran’s so-called ‘Representatives,’” he said in a social media post. “I don’t like it.”
Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported. Iran disputed the report, according to Iran’s semi-official news agency Tasnim.
Crude oil price today
The crude oil prices surged on Monday, 11 May, after the United States and Iran failed to reach an agreement on a Washington-backed peace proposal, while the Strait of Hormuz remained largely shut, raising concerns about tight global energy supplies.
Brent crude futures rose $3.18, or 3.14%, to $104.47 a barrel, building on Friday’s 1.23% gain. Meanwhile, US West Texas Intermediate crude advanced $3.92, or 4.11%, to $99.34 a barrel, following a 0.64% increase in the previous session.
Gold, silver rates today
Following today’s rise in crude oil prices, gold and silver rates are under pressure in the early morning session. The COMEX gold rate today slipped below $4,700, losing around 0.75%. However, the COMEX silver rate today witnessed some buying at the lower levels after hitting an intraday low of $79.530 per ounce.
“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,” Ponmudi R said.
Stock market today
Speaking on the outlook of the Nifty 50 and Sensex today, Amol Athawale, VP Technical Research, Kotak Securities, said, “For Nifty on the lower side, 24,000 or the 50-day Simple Moving Average (SMA) and for Sensex 76500 would act as a crucial support zone for traders. As long as the market trades above this level, the bullish sentiment is likely to continue. On the higher side, 24,400/78000 would be the immediate resistance zone.”
“A successful breakout above 24,400/78000 could push the market up to 24,500-24,700/78300-78900. Conversely, if the market falls below 24,000/76500, selling pressure is likely to accelerate. Below this level, the market could retest 23,800/75900, with further downside potentially dragging it to 23,650-23,600/75400-75200,” Athawale added.
On the outlook of the Bank Nifty today, the Kotak Securities expert said, “The index is currently trading below the 50 and 20-day SMAs, which is largely negative. We believe that 56,000, or the 50-day SMA, will be an important reference point for short-term traders. Below this level, the index could slip to 54,000-53,500. On the upside, a move above 56,000 could increase the chances of reaching 56,800-57,000.”
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these seven buy-or-sell stocks for intraday trading: Carborundum Universal, UNO Minda, PNB, LIC, Lodha Developers, Bharat Wire, and M&M Financial Services.
Sumeet Bagadia’s stock recommendations today
1] Carborundum Universal: Buy at ₹1028, Target ₹1100, Stop Loss ₹992; and
2] UNO Minda: Buy at ₹1179, Target ₹1263, Stop Loss ₹1137.
Ganesh Dongre’s buy or sell stocks
3] PNB: Buy at ₹1074, Target ₹112, Stop Loss ₹103;
4] LIC: Buy at ₹802, Target ₹935, Stop Loss ₹790; and
5] Lodha Developers: Buy at ₹962, Target ₹995, Stop Loss ₹935.
Shiju Koothupalakkal’s intraday stocks for today
6] Bharat Wire: Buy at ₹250.80, Target ₹267, Stop Loss ₹244; and
7] M&M Financial Services: Buy at ₹339, Target ₹360, Stop Loss ₹330.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
