Markets held onto midday gains on Monday but reduced early-morning highs as selling pressure emerged in banking and telecom stocks. The BSE Sensex was trading at 77,324.40, up 410.90 points (0.53%), while the NSE Nifty 50 stood at 24,122.15, an increase of 124.60 points (0.52%) as of 12:31 PM. Both indices retreated from their opening peaks amid increasing selling pressure.
The BSE market breadth remained positive, with 2,688 stocks advancing against 1,475 declining and 226 unchanged among the 4,389 stocks traded. Notably, 163 stocks reached 52-week highs, while 27 hit 52-week lows. Additionally, 217 stocks triggered upper circuit limits compared to 173 on the lower side, indicating selective market momentum.
In the Nifty 50, Hindustan Unilever led the gainers with a 3.87% rise to ₹2,338, peaking at ₹2,365.80 on volumes of 1,512,837 shares worth ₹35,368.01 lakhs. Adani Ports increased by 3.84% to ₹1,721, with 4,706,743 shares worth ₹80,885.85 lakhs traded, remaining one of the most actively traded stocks. Max Healthcare saw a 2.46% rise to ₹1,017.50 with trading volumes of 1,735,606 shares worth ₹17,487.79 lakhs. Shriram Finance also gained 2.40% to ₹959.80, with 2,285,959 shares worth ₹21,969.89 lakhs, while infrastructure company L&T advanced 2.40% to ₹4,110.20 on volumes of 1,192,739 shares worth ₹49,024.79 lakhs.
On the downside, Kotak Mahindra Bank was the largest laggard, falling 2.49% to ₹373.75—making it the most actively traded stock with 53,625,200 shares changing hands worth ₹2,00,156.06 lakhs. Bharti Airtel dropped 2.47% to ₹1,840.20 from a previous close of ₹1,886.80, with volumes of 5,461,682 shares worth ₹1,01,883.85 lakhs, contributing to the overall weakness in the telecom sector. Dr. Reddy’s Laboratories declined by 2.42% to ₹1,290.90 from ₹1,322.90, with trading volumes of 1,029,861 shares worth ₹13,382.12 lakhs. Furthermore, ONGC fell 1.80% to ₹294.15 with 8,519,037 shares worth ₹25,100.49 lakhs traded, while TCS experienced a drop of 1.65% to ₹2,433.10 from ₹2,473.90, with volumes of 1,444,540 shares worth ₹35,459.12 lakhs, maintaining pressure in the IT sector despite a challenging rupee environment.
In commodities, COMEX Gold was trading above $4,600, facing resistance in the $4,640–$4,670 range, while MCX Gold held above ₹1,51,000. COMEX Silver was consolidating in the $76–$77 zone, and MCX Silver remained range-bound near ₹2,49,000–₹2,51,000. MCX Crude Oil traded above ₹9,700, pulling back from recent highs near ₹10,500, while US Oil hovered near $102 after retreating from highs of around $110, with the $100 level acting as key psychological support. The USD/INR pair was close to ₹94.9, consolidating after briefly reaching all-time highs near ₹95.30.
“Indian equity markets have opened on a firm footing, supported by a combination of favourable global cues and optimism surrounding state election outcomes. However, underlying conditions remain volatile, with sentiment shaped by a mix of macroeconomic pressures and event-driven triggers,” remarked Ponmudi R, CEO of Enrich Money.
The Bank Nifty, beginning around 54,930, continued to experience pressure, with 54,500–54,400 identified as critical support. “A sustained breakout above 55,900–56,000 is essential to regain upward momentum toward 57,500–58,000 levels,” Ponmudi added. The Nifty 50 faces resistance at 24,300–24,400, with downside support at 23,900–23,800. Ongoing monitoring of state election results from West Bengal, Tamil Nadu, Kerala, Assam, and Puducherry is critical, as any decisive verdict is likely to influence sentiment in the latter half of the trading session.
Published on May 4, 2026
