Closing Bell: Nifty, Sensex start the week on a volatile note!

4 May 2026 , 04:48 PM

The Indian benchmark indices experienced a volatile session today on May 4, 2026, with Nifty closing at 24,119 and Sensex gaining over 355 points to close at 77,269. Easing crude oil prices and positive sentiment around state election results drove a broad-based recovery, with Realty, Metal, and Healthcare stocks leading the charge.

Market Overview: Nifty, Sensex, and Bank Nifty Performance

• Nifty 50 closed at 24,119.30 up 121.75 points (0.51%)
• Sensex ended at 77,269.40, up 355.90 points (0.46%)
• Nifty Bank settled at 54,878.50, up 15.15 points (0.028%)

Top Gainers

1. Jio Financial Services Limited – closing at 253.70 up by 2.98%

2. Adani Enterprises Limited – closing at 2,473.00 up by 2.68%

3. Reliance Industries Limited – closing at 1,467.20 up by 2.54%

Top Losers

1. Dr. Reddy’s Laboratories Limited – closing at 1,288.40 down by 2.61%

2. ONGC – closing at 292.90 down by 2.22%

3. TCS – closing at 2,430.00 down by 1.77%

Trending stocks

1. Adani Ports and Special Economic Zone Ltd-

• Closed at ₹1,747.00, up 5.41%

• Shares of Adani Ports and Special Economic Zone rose around 5% after strong operational updates.
• Strong Cargo Growth: Handled 43.1 MMT cargo in April (up 15% YoY), driven by containers and dry cargo (both +17%).
• Robust Q4 Performance: Reported 10% rise in profit and 26% revenue growth, supporting investor confidence.
• Record Profitability: EBITDA grew strongly with margin around 61%, reflecting efficient operations.
• Growth Momentum: Continued strength in volumes and logistics business reinforced positive long-term outlook.

2.  Eicher Motors Limited–

• Closed at ₹7,330.00 up 3.11%

• Shares of Eicher Motors rose around 1–3% on strong sales momentum.
• Strong Motorcycle Sales: Royal Enfield sales jumped 31% YoY to 1.13 lakh units, led by strong domestic demand.
• Segment Growth: Models below 350cc grew 34%, while higher segment bikes also saw steady growth.
• CV Business Support: Subsidiary VECV reported 7% YoY growth in commercial vehicle sales, adding to positive sentiment.
• Growth Outlook: Strong product pipeline and expansion into electric mobility (Flying Flea C6) boosted investor confidence.

3. Kotak Mahindra Bank-

• Closed at ₹371.10 down by 3.18%

• Shares of Kotak Mahindra Bank fell around 2–4% despite strong Q4 results.
• Profit Booking: Stock had already rallied earlier, so investors booked profits after results, leading to a fall.
• Strong Earnings Ignored: Net profit rose 13% YoY to ₹4,026 crore, and NII grew 8%, but failed to support the stock.
• Margin Concerns: Brokerages flagged pressure on NIMs (Net Interest Margins) due to rising cost of funds.
• Weak Return Ratios: Concerns over lower return ratios (ROA/ROE) weighed on investor sentiment.

4. Bharti Airtel Limited-

• Closed at ₹1,828.00 down by 3.12%
• Shares of Bharti Airtel fell around 3% amid selling pressure.
• Profit Booking: Decline driven by investors booking gains after a recent rally in the stock.
• Ahead of Results: Cautious stance ahead of Q4 results announcement (May 13) led to limited buying.
• Despite Positive Outlook: Brokerages like Morgan Stanley remain positive long-term, but short-term correction continued.

Sectoral Indices Performance

Indices	Change
Nifty Realty	2.41%
Nifty Metal	1.09%
Nifty Healthcare	1.03%
Nifty Pharma	0.89%
Nifty Infrastructure	0.55%
Nifty Auto	0.42%
Nifty FMCG	0.38%
Nifty IT	-0.95%

1. Crude Oil Prices Ease Sharply-

Brent crude slipped to around $113 per barrel from $120+, after US President Trump said the US would help guide ships through the Strait of Hormuz. Lower oil prices directly benefit India by easing inflation concerns and reducing pressure on the current account deficit.

2. Election Results Boost Sentiment–

State election results, particularly from West Bengal, provided a short-term sentiment boost to markets. Positive political outcomes lifted investor confidence, triggering fresh buying across sectors.

3. Broad-Based Sectoral Buying–

All major sectoral indices traded in the green, with Auto, FMCG, Financial Services, and Metal leading gains. This broad participation reflected renewed investor confidence rather than selective or defensive buying.

4. Broader Market Joins the Rally-

Mid-cap and small-cap indices also participated strongly, with Nifty Midcap 100 gaining over 1% and Nifty Small cap 100 adding 0.86%. This signals that buying was widespread and not limited to large-cap stocks alone.

Easing crude oil prices and positive election sentiment drove broad-based buying across most sectors. Realty surged 2.41% on reduced inflation fears and improved housing demand outlook, Metal gained 1.09% on easing geopolitical tensions and infrastructure momentum, while Healthcare rose 1.03% on defensive buying and strong earnings visibility. IT was the only exception, slipping 0.95% as the global AI trade continued to pull foreign capital away from traditional tech stocks.

Summary–

May 4, 2026, reflected a positive and broad-based market trend:

• Realty, Metal, and Healthcare stocks led the gains, supported by easing crude oil prices and improving global cues
• Auto and FMCG sectors remained positive, backed by steady demand outlook and investor confidence
• IT stocks underperformed, facing mild selling pressure amid sector-specific weakness

With Nifty rising 121.75 points (+0.51%) and Sensex gaining 355.90 points (+0.46%), market sentiment improved, driven by falling crude oil prices, positive political developments, and broad-based buying across large, mid, and small-cap stocks