Indian markets closed higher with Sensex gaining about 356 points and Nifty topping 24,100, tracking upbeat global cues and election-related sentiment.
Markets ended the first session of May on a confident note, with the Sensex pushing up and the Nifty holding above 24,100.
The BSE Sensex closed at 77,269.40, up 355.90 points or 0.46%. The NSE Nifty 50 finished at 24,119.30, gaining 121.75 points or 0.51% as buying carried over from the open.
On the Nifty, leadership came from names such as Adani Ports, Adani Enterprises, Eicher Motors, Reliance Industries and Jio Financial. Losses were led by Bharti Airtel, Kotak Mahindra Bank, Dr. Reddy’s, ONGC and TCS.
In this kind of session, what looks like broad participation matters: when multiple large-caps move in the same direction, it typically supports index-level sentiment.
Sectorally, metals, realty, infrastructure and pharma advanced by roughly 0.5% to 1%. Meanwhile, IT, media and PSU banks ended in the red. The broader market also stayed firm, with Nifty Midcap and Smallcap indices each rising about 0.5%.
Meanwhile, global cues appeared to add a tailwind. In Asia, gains were led by a jump in KOSPI and Taiwan Weighted indices, while the Hang Seng and Nikkei 225 also ended higher. US market action was mixed, with Nasdaq up and Dow Jones Futures slightly lower.
This matters because when overseas markets are broadly supportive, it often reduces the pressure on domestic traders to be overly defensive, especially at the start of a new month.
In commodities, energy prices moved higher, with Brent crude and crude oil both ticking up. Gold, however, slipped lower.
Sentiment on the domestic side was described by Misryoum as being supported by election-linked optimism and operational performance, even as uncertainty around geopolitics continued to hover in the background.. Misryoum also noted that investors appeared to balance enthusiasm with selective profit-taking.
Going ahead, Misryoum expects near-term direction to remain sensitive to geopolitical developments and oil price trends, since they can influence inflation expectations, interest rates and company earnings.. As always, volatility can return quickly when the market is juggling multiple signals at once.