Closing Bell: Nifty Gives Up 170 Points, Bank Nifty Over 700 Points from Day’s High; Both End in Green

Indian equity benchmarks began the first trading session of May on a firm note, but the early momentum faded as profit booking emerged at higher levels. The Nifty 50 opened above the 24,000 mark on Monday, May 04, 2026, and touched an Intraday high of 24,290 in the first hour of trade. However, the index gave up nearly 170 points from the day’s high before closing with moderate gains.

The Nifty 50 settled 121.75 points, or 0.51 per cent, higher at 24,119.30. The Sensex advanced 355.90 points, or 0.46 per cent, to close at 77,269.40. Bank Nifty, however, lost momentum sharply after a strong start, giving up more than 700 points from the day’s high and ending almost flat at 54,878.50, up 15.15 points, or 0.03 per cent.

The India VIX, the market’s volatility gauge, ended marginally lower by 0.87 per cent at 18.30. 

The market pared gains from higher levels as crude oil prices surged past the USD 110 per barrel mark. Brent crude futures climbed above USD 110 per barrel on Monday after reports said that a tanker was hit by projectiles in the Strait of Hormuz, shortly after US President Donald Trump announced plans to guide ships through the waterway.

Tensions in the region remained high as Iran warned that it would target any US forces entering the narrow strait. It also cautioned commercial vessels and oil tankers against moving through the route without coordination with its military. The development raised concerns over possible disruption in global oil supply flows.

The rupee also weakened past the 95 mark against the US dollar on Monday, adding another macro concern for domestic equities.

Most sectoral indices ended in the green, led by Nifty Realty, which gained 2.41 per cent on Monday. All constituents of the Nifty Realty index ended higher, reflecting strong buying interest across the sector.

On the other hand, Nifty IT, Media and PSU Bank closed in the red. Nifty IT was the top loser among sectoral indices, falling 0.95 per cent, with most of its constituents ending lower.

The broader markets continued to show strength and outperformed the frontline indices. The Nifty Midcap 100 index advanced 0.63 per cent, while the Nifty Smallcap 100 index gained 0.70 per cent.

The outperformance in the broader market supported overall market breadth, even as benchmark indices trimmed gains from their intraday highs.

Market breadth remained positive on Monday, May 04, 2026, supported by strength in the broader market. A total of 2,140 stocks advanced, while 1,187 stocks declined and 105 stocks remained unchanged.

In terms of stock specific action, 153 stocks touched their 52 week highs, while 26 stocks hit their 52 week lows. Additionally, 130 stocks were locked in Upper Circuits, while 87 stocks were locked in Lower Circuits.

Disclaimer: This article is for informational purposes only and should not be considered investment advice.