Indian equity benchmark indices, the Sensex and Nifty, opened lower on Tuesday, May 5, 2026, as sentiment remains cautious amid ongoing developments in the Middle East and movement in crude oil prices. While the 30-share BSE Sensex plunged 165.68 points or 0.21 per cent to start the session at 77,103.72, the Nifty fell 66.7 points to open at 24,052.60. In the last trading session, the Sensex closed at 77,269.40 and the Nifty 50 at 24,119.30.
From the Sensex pack, Mahindra & Mahindra, Adani Ports, ITC, Tata Steel, and TCS were in green with M&M leading the pack by gaining 0.39 per cent in the early trade. On the other hand, Indigo, Tech Mahindra, NTPC, Eternal and Asian Paints were in the red, with Indigo being the top loser by falling over 1.07 per cent.
“For day traders now, the 24,000/77,000 level and the 20-day SMA (Simple Moving Average) will act as key support zones. Above these levels, the market could continue its positive momentum towards 24,300–24,400/77,700–78,000. On the flip side, below the 20-day SMA or 24,000/77,000, the market could retest 23,800. A close below 23800/77000 could trigger further weakness to 23500/76100,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
In early trade, market breadth was negative, with 1,464 stocks declining against 1,172 stocks advancing on the NSE. 103 stocks remained unchanged.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a mildly positive start as it opened with a gain of 19.5 points at 24,064.50, compared to the previous close of 24,045. Foreign Institutional Investors (FIIs) turned buyers and purchased equities worth Rs 2,835 crore on April May 4. Domestic Institutional Investors (DIIs) remained strong buyers with inflows of Rs 4,764 crore.
Asian Markets Today
Asian markets traded mixed following overnight declines on Wall Street, with crude oil prices jumping amid escalations in the Middle East. While Japan’s Nikkei 225 gained 228.20 points or 0.38 per cent to trade at 59,513.12, Hong Kong’s Hang Seng was down by 338.88 points or 1.30 per cent. Shanghai’s SSE Composite index was up 4.65 points or 0.11 per cent.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
