Stock Market Update: Nifty and Sensex Decline Amid Global Weakness; Three Stocks Recommended for Purchase
Buy or sell: Gift Nifty down, Vaishali Parekh recommends three stocks to buy today —11 May 2026
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On May 11, 2026, the Indian stock market faced pressure with the Nifty 50 index dropping 150 points to 24,176 and the BSE Sensex falling 516 points to 77,328. Analyst Vaishali Parekh suggests buying Morepen Laboratories, Reliance, and AU Small Finance Bank for potential gains.
- 01Nifty 50 index closed down 150 points at 24,176.
- 02BSE Sensex fell by 516 points, ending at 77,328.
- 03Vaishali Parekh recommends buying Morepen Laboratories, Reliance, and AU Small Finance Bank.
- 04Bank Nifty index slid 736 points to 55,310 amid poor SBI results.
- 05Market sentiment remains cautiously positive despite recent declines.
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On May 11, 2026, the Indian stock market experienced significant declines, with the Nifty 50 index finishing 150 points lower at 24,176, and the BSE Sensex dropping 516 points to 77,328. The Bank Nifty index faced a steep decline of 736 points, closing at 55,310, primarily due to disappointing results from State Bank of India (SBI). While the overall market sentiment was under pressure, the midcap and smallcap indices showed some resilience, ending flat to slightly positive. Analyst Vaishali Parekh from Prabhudas Lilladher noted that the Nifty 50 faced a hurdle in the 24,300-24,350 zone, leading to profit booking. She emphasized the importance of maintaining support levels around 24,000 and 23,800 for the index's future performance. Parekh also provided stock recommendations, suggesting investors buy Morepen Laboratories at ₹45.70 with a target of ₹48, Reliance at ₹1,340 with a target of ₹1,380, and AU Small Finance Bank at ₹1,050 with a target of ₹1,070.
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Investors may need to reassess their portfolios due to the current market volatility, particularly in banking stocks, which could affect their investment strategies.
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