Domestic equity indices came off early lows in morning trade. The Nifty regained the 14,800 mark after hitting an intraday low of 14,771.40. Pharma and realty stocks were in demand while metal, IT and and banks shares witnessed selling.
 
At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 381.6 points or 0.77% to 49,120.20. The Nifty 50 index slipped 107.20 points or 0.72% to 14,835.30. 

In broader market, the S&P BSE Mid-Cap index was up 0.39% while the S&P BSE Small-Cap index rose 0.78%. 

The market breadth was positive. On the BSE, 1596 shares rose and 1006 shares fell. A total of 162 shares were unchanged. 

Investors locked profits after the Sensex rose 2.59% and the Nifty climbed 3.08% in the four consecutive sessions. 

COVID-19 Update: 

Total COVID-19 confirmed cases worldwide stood at 158,616,717 with 3,299,694 global deaths. 

India reported 37,15,221 active cases of COVID-19 infection and 249,992 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. 

The media reported that WHO has reclassified the highly contagious triple-mutant Covid variant spreading in India as a variant of concern,indicating that it's become a global health threat. WHO official said, "We classify it as a variant of concern at a global level. 

Buzzing Index: 

The Nifty Bank slipped 0.91% to 32,840.80, snapping its four day winning run. The index rose 2.7% in the past four days. 

Kotak Mahindra Bank down 1.76%,ICICI Bank down 1.18%, RBL Bank down 0.91%,Axis Bank down 0.85%, IndusInd Bank down 0.84% and SBI down 0.66% were top losers in banking space. 

Punjab National Bank was down 3.23%. The board of directors of the state-run bank approved opening of qualified institutional placement (QIP) on Monday. The board approved the floor price of Rs 35.51 per equity share for the QIP. The Capital Raising Committee of the bank will meet on Friday, 14 May, to consider and determine the issue price for the equity shares to be allotted to eligible qualified institutional buyers. 

Results Today: 

Godrej Consumer down 0.17%,Granules India up 0.89%,Kalpataru Power up 0.91%,KEC International up 0.25%, BASF up 1.17%, Aarti Industries up 0.33% and Alembic up 1.27% will announce their March quarter results. 

Earnings Impact: 

HFCL soared 9.6% after the company's consolidated net profit surged to Rs 84.67 crore in Q4 FY21 from Rs 5.78 crore in Q4 FY20. Net sales during the quarter increased 109.8% to Rs 1391.40 crore from Rs 663.19 crore reported in the same period last year. On the segmental front, revenue from Telecom Products was Rs 387.82 crore (up 114.4% YoY) while that from Turnkey Contracts and Services was Rs 1,003.58 crore (up 108.1% YoY) in the fourth quarter. 

Chambal Fertilisers & Chemicals advanced 2.98% to Rs 230 after the company's consolidated net profit surged 169.4% to Rs 541.75 crore on a 16.7% decline in net sales to Rs 1,640.76 crore in Q4 FY21 over Q4 FY20. Consolidated profit before tax (PBT) soared 245% to Rs 554.61 crore in Q4 March 2021 over Rs 160.77 crore in Q4 March 2020. Cash and cash equivalents stood at Rs 887.91 crore for the year ended March 2021 over the year ended March 2020.