Indian markets faced selling pressure on May 11 as major indices declined. Sensex dropped 905 points to 76,422, while Nifty fell 234 points to 23,941. Q4 earnings season delivered mixed results across sectors. Canara Bank's profit declined 10 percent year-over-year to 4,505 crore, weighing on banking stocks. However, PVR Inox swung to profitability with 120.8 crore net profit, reversing prior year losses. UPL showed resilience with consolidated profit rising to 1,294 crore from 1,079 crore. Commodity markets showed volatility with crude oil gaining 266 points while gold retreated 430 points. Multiple companies including JSW Energy, IHCL, Abbott India, and JBM Auto announced results today. Market sentiment remained cautious as investors digested earnings data and assessed economic fundamentals heading into the remainder of the fiscal year.
