The index has strong support in the zone of 11,180-11,230 as it has an unfilled upside gap (11,180-11,227) which was formed on March 12 and also 50 per cent retracement of the rise from February's low to April's high is placed in the region. In any case, if it falls below this level, Nifty may test 11,000 very fast. Stocks in news: Reliance Industries, Edelweiss Financial Services, Welspun Corp.

Indian markets are likely to start the session near the dotted line as at the time of writing SGX Nifty was trading marginally down by 6 points at 11,335. Among the results to watch are Eicher Motors, Canara Bank, LT, SBI, PVR, IDFC First Bank and Oberoi Realty. Market participants would also focus on IIP data, which is scheduled to be released today.

Asian Paints posted healthy revenue growth and announced a final dividend of Rs. 7.65 for the quarter ended March 2019.

Indraprastha Medical Corporation declared its financial results for the quarter ended March 2019. 

Multi-cap funds witnessed the highest inflows in the month of April 2019 among the equity-oriented schemes. This is in-line with the thinking that multi-cap funds are best suited for volatile times.

Gillette India Limited reported sales of Rs. 466 crore for the quarter ended March 2019 on Thursday. The company's sales were up 3 per cent YoY.

Varun Beverage reported consolidated net sales of Rs. 1,359.2 crore for the March quarter, up by nearly 24.1 per cent from the corresponding quarter of the previous year. This was mainly on account of increase in overall sales volumes to 90 million-unit cases from 80 in Q1CY18

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The stocks that are likely to witness significant movement on the bourses on May 10 are JSW Steel, Excel Crop Care Limited, Maruti Suzuki India, Lupin and IDFC First Bank.

Market continued to be in the red, but managed to cut the losses. As it has been the case for the last two day, Reliance continued to be the top draggers on Thursday.