Prime End of the Day Summary: View on Market Performance 05 May 2026

Nifty Rebounds Amid Volatility; Rupee Hits Record Low

Nifty continued its alternating pattern of one-day declines followed by one-day gains. After Friday’s fall, the index recovered 121 points today to close at 24,119. It opened 66 points higher and extended its gains by another 168 points during the early session. However, within the first half hour of trade, the trend reversed sharply, and Nifty corrected by 286 points by noon. In the later part of the session, the index recovered from the day’s lows, helping it retains a bullish undertone. This price action suggests that while volatility remains elevated, buying interest continues to emerge at lower levels. Nse cash market turnover was lower by 4% compared to last trading session.

Adani Ports, Eicher Motors and Jio Finance led the Nifty gainers, while Kotak Mahindra bank, Bharti airtel, and Dr reddy bore the brunt of selling pressure as top laggards.

On the sectoral front, barring Nifty IT, Media, PSU Banks, and Private Banks, all indices ended higher. Realty, Metals, and Healthcare outperformed.

Broader markets tracked the benchmark, with the Nifty Midcap 100 and Smallcap 100 rising 0.63% and 0.7%, respectively. Market breadth improved, with the advance-decline ratio at 1.50, indicating a revival in buying interest in mid- and small-cap stocks following Thursday’s correction.

The rupee depreciated for the fourth consecutive session, falling 18 paise to close at a record low. Strength in the US dollar and elevated crude oil prices remain key pressure points. Persistent foreign fund outflows are further weighing on the currency, raising concerns around India’s trade balance and macro stability.

Nifty has been consolidating around its 50 DEMA at 24,185 over the past five trading sessions. Immediate support remains at 23,800, while 24,334 and 24,600 are likely to act as short-term resistance levels.