Indian equity benchmark indices, the Sensex and Nifty, opened higher on Monday, May 4, 2026, amid mixed global cues, with Brent crude oil prices holding steady after President Donald Trump said the US would help ships leave the Strait of Hormuz. While the 30-share BSE Sensex surged 343.77 points or 0.44 per cent to start the session at 77,257.27, the Nifty added 66 points to open at 24,063.55. In the last trading session, the Sensex closed at 76,913.50 and the Nifty 50 at 23,997.55. Similarly, the broader indices traded in the green in the opening session. While the BSE Midcap Select Index gained 112.45 points, the BSE Smallcap Select Index added 60.63 points or 0.74 per cent, to trade at 8,233.77. The indices surged as the counting of votes is underway in four states – West Bengal, Tamil Nadu, Kerala, and Assam – and the Union Territory of Puducherry
From the Sensex pack, Adani Ports, Maruti, M&M, Hindustan Unilever, and Indigo were in green with Adani Ports leading the pack by gaining 2.72 per cent in the early trade. On the other hand, Power Grid, Kotak Bank, Bharati Airtel and Reliance were in the red, with Power Grid the top loser, falling over 0.63 per cent.
In early trade, market breadth was negative, with 2,074 stocks declining against 590 stocks advancing on the NSE. 133 stocks remained unchanged.
“We are of the view that as long as the market is trading within this range, non-directional activity is likely to continue. On the higher side, if the index succeeds in trading above 24,210/78300, the chances of reaching 24,500/79200 would increase. However, while below 23,800/76700, selling pressure is likely to accelerate. Below this level, the market could slip to 23,600–23,500/76100-75800,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a gap-down to mildly negative start as it opened with a drop of 104 points at 24,251, compared to the previous close of 24,147. Foreign Institutional Investors (FIIs) extended their selling streak for the ninth consecutive session and offloaded equities worth Rs 8,047.86 crore on April 30. However, Domestic Institutional Investors (DIIs) provided partial support by purchasing equities worth Rs 3,108.40 crore.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
