Equity benchmark indices traded with marginal gains on Monday morning aided by steady foreign inflows and easing global trade tensions. Sensex climbed 408.14 pts or 0.51 per cent to 80,910.13 as at 10.05 am after opening at 80,661.62, and Nifty 50 rose gained 126.15 pts or 0.52 per cent to 24,472.85 . Midcap and smallcap indexes traded flat.
Volatility index rose 1.31 per cent to 18.50
According to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments, steep decline in the dollar index continues to be a strong tailwind for the market.
“The outperformance of the large-caps over the broader market is a healthy trend that is playing out now. This trend can sustain,” he added.
Sectoral indices except banking stocks traded in green. Nifty oil & gas and FMCG indices rose over 1 per cent.
Benchmark indices maintained their positive momentum last week. Defence index outperformed, gaining over 6 percent, while the Media index declined by 1.7 per cent, Shrikant Chouhan, Head Equity Research, Kotak Securities, said.
On technical front, Chouhan recommended strategy to establish a long position with a stop loss at 24,200 on a closing basis. For bank nifty, a lower top formation has been observed on both the daily and intraday charts. “For traders, an immediate breakout level is at 55,800. A rise above this level could lead to gains of 56,100-56,500. However, if the market rejects 54,700, selling pressure could increase. In such a case, it may fall to the levels of 54,000-53,700.,” he added.
On Friday, Sensex closed 259.75 pts or 0.32 per cent positive at 80,501.99, and Nifty 50 inched up 12.50 pts or 0.05 per cent to 24,346.70.
Top gainers & losers
About 1,700 stocks advanced and 758 declined of all the 2,531 stocks that were traded on the National Stock Exchange at the time of writing. 18 stocks hit 52-week high and 22 hit a 52-week low.
Nearly 43 shares hit the upper circuit and 37 traded at its lower circuit.
Shares of Adani Ports, Adani Enterprises, Shriram Finance, Trent, Asian Paints and Bajaj Finserv lead the gainers of Nifty 50, while Kotak Mahindra Bank, SBI, ONGC, JSW Steel and L&T traded as major laggards.
Shares of Kotak Mahindra and State Bank of India depreciated 6 per cent and 2 per cent, respectively, following Q4 numbers. Today, Coforge, M&M, Indian Hotels, J&K Bank and few more companies are set to announce Q4 results. Track live updates here
Shares of Hindustan Petroleum, IGL, Waaree Energies, Marico and Biocon lead the gainers of midcap index, while Torrent Power, Phoenix Mills dropped.
Among smallcap, JBM Auto, Ircon International, Radico Khaitan, Inox Wind surged 3-7 per cent. CDSL, Data Patterns and Nuvama fell 3-5 per cent.
On the BSE, shares of R R Kabel, Netweb Technologies zoomed 14 per cent, while V-Mart and Jindal Saw plunged 6-8 per cent.
Global market
Wall Street gained on Friday as data suggested that the US economy added more jobs in April. Investors are also watching developments from Warren Buffett’s annual Berkshire Hathaway meeting.
Asian markets, Taiwan’s weighted index and Singapore’s Straits Times Index traded lower. Other major Asian markets were closed due to public holiday.
Published on May 5, 2025
