Markets Hold Midday Gains; Sensex Up 466 pts, Nifty Above 24,130 at Noon

Mumbai, May 4: Indian equity markets were holding firm in midday trade on Monday, as a broad-based recovery sustained the momentum from the opening session into the afternoon. The BSE Sensex was trading at 77,379.73 at 12:26 IST, up 466.23 points or 0.61 per cent from Thursday’s close, while the Nifty 50 stood at 24,131.15, gaining 133.60 points or 0.56 per cent as of 12:28 am.

Both benchmarks had trimmed their early morning peaks — the Sensex had briefly crossed 77,521 and the Nifty had touched 24,183 at the open — as profit-booking in select index heavyweights moderated the advance through the late morning session.

Nevertheless, the overall bias remained firmly positive, with market breadth strongly in favour of advances and the India VIX declining 1.34 per cent to 18.21, signalling reduced near-term volatility anxiety among traders.

Top Nifty 50 Gainers at Midday

Hindustan Unilever led the Nifty 50 gainers at midday, rising 3.96 per cent to ₹2,340.00 — the stock had swung between an intraday low of ₹2,268.80 and a high of ₹2,365.80, against a previous close of ₹2,250.90, reflecting strong defensive buying interest. Adani Ports was the second-biggest gainer, up 3.84 per cent to ₹1,721.00, having traded in a wide ₹1,687.30–₹1,748.60 range from a prior close of ₹1,657.30. L&T advanced 2.46 per cent to ₹4,112.60 — touching a high of ₹4,139.50 and a low of ₹4,026.00, against a previous close of ₹4,014.00 — supported by fresh order flow optimism. Shriram Finance gained 2.37 per cent to ₹959.60, with its intraday range between ₹942.00 and ₹969.00 from a previous close of ₹937.35, while Bajaj Finance added 2.36 per cent to ₹959.10, oscillating between ₹938.10 and ₹966.00 against a prior session close of ₹937.00.

Top Nifty 50 Losers at Midday

Kotak Mahindra Bank was the session’s sharpest decliner among Nifty 50 constituents, falling 2.73 per cent to ₹372.85 — the stock hit a low of ₹363.00 and a high of ₹382.05 against a previous close of ₹383.30, with heavy volumes of over 5.29 crore shares pointing to concerted institutional selling. Bharti Airtel was the second-biggest loser, down 2.29 per cent to ₹1,843.50, having swung between ₹1,840.80 and ₹1,895.30 from a prior close of ₹1,886.80, weighed down by sector-specific concerns. Dr Reddy’s Laboratories declined 1.93 per cent to ₹1,297.40 — its intraday range was ₹1,281.70–₹1,320.00 against a previous close of ₹1,322.90 — as pharma stocks faced selective profit-taking despite the broader sectoral index gaining. TCS fell 1.61 per cent to ₹2,434.00, ranging between ₹2,431.10 and ₹2,498.30 from a prior close of ₹2,473.90, while ONGC slipped 1.60 per cent to ₹294.75, touching a low of ₹292.70 and a high of ₹299.90 against a previous close of ₹299.55.

Broad and Sectoral Markets

Broader markets outperformed benchmarks at midday, with the Nifty Midcap 100 advancing 0.86 per cent to 60,300.55 and the Nifty Smallcap 100 gaining 0.66 per cent to 18,125.20, while the Nifty Next 50 surged 1.23 per cent to 70,502.70 — reflecting strong buying appetite beyond the large-cap space.

On the sectoral front, Nifty Realty led with a sharp 2.39 per cent gain to 812.55, followed by Nifty Pharma (+1.10 per cent to 23,523.55), Nifty Metal (+1.01 per cent to 12,962.55), and Nifty Healthcare (+1.25 per cent to 15,104.60) — all benefiting from the improved macro backdrop and broad risk-on sentiment. On the lagging side, Nifty IT was the session’s notable underperformer, declining 0.77 per cent to 29,127.90, pressured by losses in TCS and Infosys, while Nifty Media was down 0.89 per cent to 1,443.00 — the only two sectoral indices trading in negative territory at midday. Nifty Auto, which had been a strong gainer at the open, moderated to a 0.40 per cent gain at 26,020.75 by midday, suggesting some intraday profit-booking in the sector even as the broader market held its ground.

Middle East Conflict: Hormuz Limbo Continues

The Middle East situation remained in a delicate holding pattern at midday, with President Trump’s weekend announcement that the U.S. military would guide ships through the Strait of Hormuz offering a partial lifeline to global energy markets — but stopping well short of the formal ceasefire or reopening of the waterway that would decisively alter the macro picture. Iran’s top official Ebrahim Azizi pushed back sharply, calling the U.S. initiative a violation of the ceasefire framework, while a vessel struck by unknown projectiles in the strait over the weekend — with all crew safe — served as a reminder that the waterway remains an active zone of tension.

Oil Prices

Crude oil prices eased on Monday but remained firmly above the $100-per-barrel mark, offering partial relief to import-sensitive economies like India while underscoring that the fundamental supply disruption from the Hormuz closure is far from resolved. Brent crude futures fell 64 cents, or 0.59 per cent, to $107.53 a barrel, having already settled $2.23 lower on Friday, while U.S. West Texas Intermediate slipped 84 cents, or 0.82 per cent, to $101.10 a barrel — following a $3.13 decline in the previous session.

Asian Markets

Asian markets provided a broadly supportive backdrop for Indian equities on Monday, though the picture was mixed. Hong Kong’s Hang Seng Index surged 1.70 per cent to 26,213.62, and Japan’s Nikkei 225 added a steady 0.38 per cent to 59,513.12, while China’s Shanghai Composite edged up a marginal 0.11 per cent to 4,112.16. Malaysia’s KLCI gained 0.49 per cent to 1,730.52, Vietnam’s HNX 30 advanced 0.77 per cent to 526.00, and Thailand’s SET inched up 0.13 per cent to 1,493.69. On the losing side, Indonesia’s JSX Composite fell a sharp 2.03 per cent to 6,956.80, Pakistan’s KSE 100 dropped 1.71 per cent to 162,994.17, and Australia’s S&P ASX All Ordinaries slipped 0.32 per cent to 8,925.60 — reflecting region-specific pressures rather than any broad Asian selloff.

Source:

• nseindia.com
• bseindia.com