Nifty Jumps 1% Above 24,250; VIX Falls Below 18; 111 Stocks Hit 52-Week Highs

The Nifty 50 and Sensex were trading higher by over 1 per cent on Monday, May 4, supported by strong buying in private Banking heavyweights such as HDFC Bank and ICICI Bank. The Nifty 50 was trading above the 24,250 mark, up 262 points, with HDFC Bank and ICICI Bank together contributing around 66 points to the index gains.

The India VIX cooled off by nearly 4 per cent and slipped below the 18 mark, indicating some easing in market volatility.

The rally was broad-based, with all sectoral indices trading in the green. Nifty Auto and Nifty Realty led the gains, while Nifty Auto rose over 2 per cent after automobile companies reported their sales figures for April.

Buying interest was also visible in the broader market. The Nifty Midcap 100 and Nifty Smallcap 100 indices were trading higher by 1 per cent and 0.88 per cent, respectively.

Market breadth on the NSE remained strong, with 2,254 stocks advancing against 639 declining stocks. As many as 111 stocks hit fresh 52-week highs, while only 12 stocks touched 52-week lows. Meanwhile, 74 stocks were locked in the Upper Circuit and 41 stocks hit the Lower Circuit.

Among individual stocks, Aster DM, Meesho and Dr Lal PathLabs witnessed strong buying interest on Monday, May 4, with each stock gaining over 7 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.