Indian benchmark indices closed in positive territory on Monday, sustaining their opening momentum to mark a strong start to the first trading session of May. The BSE Sensex ended at 77,269.40 points, gaining 355.90 points or 0.46 per cent. The NSE Nifty 50 also advanced, closing at 24,119.30 points, up by 121.75 points or 0.51 per cent.
Among the top gainers on the Nifty were Adani Ports, Adani Enterprises, Eicher Motors, Reliance Industries, and Jio Financial. On the losing side, Bharti Airtel, Kotak Mahindra Bank, Dr. Reddy’s, ONGC, and TCS recorded declines.
Sector-wise, metals, realty, infrastructure, and pharma stocks posted gains in the range of 0.5 to 1 per cent. However, IT, media, and PSU banking stocks ended the session in the red. The broader markets remained positive, with both Nifty Midcap and Smallcap indices rising by approximately 0.5 per cent each.
Asian markets reflected a broadly positive trend at the time of filing, led by sharp gains in the KOSPI and Taiwan Weighted indices, which surged 4.87 per cent and 4.37 per cent, respectively. Other regional indices also showed strength, with the Hang Seng rising 1.19 per cent and the Nikkei 225 gaining 0.38 per cent. Modest gains were recorded in the Straits Times (0.24 per cent), Jakarta Composite (0.22 per cent), and Shanghai Composite (0.11 per cent), while the SET Composite remained unchanged.
In the United States, market performance was mixed. Dow Jones Futures edged down by 0.14 per cent, while the S&P 500 and Nasdaq posted gains of 0.29 per cent and 0.89 per cent, respectively, in their most recent sessions.
In commodities, energy prices moved higher, with Brent crude rising 1.43 per cent to USD 109.72 and crude oil increasing 1.03 per cent to USD 102.99. Gold prices, however, declined by 0.80 per cent to USD 4,575.69.
Market participants said investor sentiment remained supported by favourable global cues, though domestic developments such as election outcomes are expected to influence near-term direction.
Vinod Nair, Head of Research at Geojit Investments Limited, said, “Investor sentiment remained supported by a favourable election outcome in West Bengal and a better-than-expected Q4 earnings, helping markets look past Middle East-related concerns.”
He added, “Intermittent profit booking persisted amid uncertainty surrounding the U.S. ‘Project Freedom’ initiative to reopen the Strait of Hormuz. While the resolution path may take time, optimism around gradual progress continues. Crude prices holding below $110 are providing near-term comfort. Going ahead, market direction will hinge on geopolitical developments and oil price trends, given their impact on inflation, interest rates, the rupee, and corporate margins.”
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