India Retail Inflation Rises to 3.48% in April From 3.40% in March; Dixon Technologies Slips After Weak Q4 Results – Paper by Pocketful
Market Recap: 12th May, 2026
Stock News Highlights
Afcons Infrastructure (+2.59%): Stock gained after securing ₹7,544 crore European railway project as L1 bidder for track reconstruction work.
Dixon Technologies (-5.89%): Stock declined after weak Q4FY26 results; consolidated net profit plunged 36% YoY to ₹256 crore, while revenue rose 2.1% YoY to ₹10,511 crore. EBITDA fell 7.8% YoY to ₹408 crore with margin contracting to 3.9% from 4.3%. The company also announced a dividend of ₹10 per share.
Anant Raj (-6.70%): Stock declined sharply despite strong Q4FY26 results; consolidated net profit jumped 23.6% YoY to ₹146.6 crore, while revenue from operations rose 19.6% YoY to ₹646.8 crore. The company also recommended a final dividend of ₹1 per equity share for FY26.
HFCL (-0.46%): Stock traded in the negative amid weak market sentiment despite the company securing export orders worth $19.32 million (approximately ₹183.95 crore) for the supply of optical fiber cables from reputed international customers.
Sectoral Performance
Realty | Nifty Realty (-4.11%): Index declined for the third consecutive session, with all constituents trading in the red amid broad-based market selling. Surging oil prices, the Indian rupee hitting record low levels, and continued FII outflows weighed heavily on investor sentiment.
India Defence | Nifty India Defence (-4.03%): Index declined for the third consecutive session, dragged by sharp losses in Bharat Electronics, HAL, and Solar Industries. Profit booking after recent rallies and weak broader market sentiment weighed on defence stocks.
IT | Nifty IT (-3.73%): Index crashed sharply amid heavy selling in Infosys, TCS, and HCLTech, with major IT stocks hitting fresh 52-week lows. Investor sentiment weakened after OpenAI’s Deployment Company launch sparked fears of faster AI-led disruption across the IT services sector.
Consumer Durables | Nifty Consumer Durables (-3.59%): Index traded lower amid sharp losses in Titan, Dixon Technologies, and Havells India. Weak sentiment after Dixon Tech’s disappointing Q4 results further dragged the sector down.
Market Insights
Technical Level: Nifty opened with a gap-down and witnessed continuous selling pressure throughout the session, declining steadily till closing. The index faced resistance near 23,750 and closed near the day’s low with support placed around 23,350.
Advance-Decline Ratio: Market breadth remained sharply negative, with 590 stocks advancing and 2,725 stocks declining, indicating broad-based selling pressure across the market.
The Big Picture: India’s retail inflation rose for the sixth consecutive month to 3.48% in April from 3.40% in March, though it remained below market estimates of 3.80%. Rising food inflation, concerns over global oil prices, and supply disruptions due to the Iran conflict continue to pose risks to India’s inflation and growth outlook.
FII/DII Activity (May 11, 2026): DIIs remained net buyers with ₹5,940 crore inflows, while FIIs sold equities worth ₹8,437 crore.
Watch Out For Tomorrow
IPO Corner: Goldline Pharmaceutical SME IPO opened for subscription today, drawing investor interest from the pharmaceutical and healthcare segment.
Macro: USA PPI MoM (Apr) & Euro Industrial Production MoM (Mar) data are scheduled tomorrow.
Index Watch: Nifty opened on a negative note and remained under pressure throughout the session amid continuous FII selling. Weakness in the rupee and concerns over rising crude oil prices impacting India’s dollar reserves further dragged the market below the estimated support zone. Immediate support is now seen near 23,000, while resistance is placed around 23,750.
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