Market wrap, May 2: Indices end flat, NIFTY50 ends above 24,300 mark, SENSEX up 260 points; JSW Steel tanks 5.8%

After a volatile session on Friday, May 2, the Indian stock market settled with little gains. The market investors remained cautious amid a potential India-US trade deal. However, record-high GST collection in April and continuous foreign fund inflows helped to keep the positive sentiments.

During the intraday period, SENSEX and NIFTY50 touched highs of 81,177.93 and 24,589.15 levels, respectively.

At close, the S&P BSE SENSEX stood at the 80,501.99 level, rising 259.75 points, or 0.32%, while the NSE's NIFTY50 index settled at 24,346.70, advancing 12.50 points, or 0.05%.

In the last five trading sessions, SENSEX has gained 1.5% while NIFTY rose 0.95%.

The broader market underperformed on Friday as both the midcap and smallcap gauges closed in red.

Consumer durables was the top losing sector, while oil and gas gained the most.

According to exchange data, the foreign institutional investors (FIIs) bought equities worth ₹50.57 crore on a net basis on Wednesday.

Globally, the Asian markets gained Friday after China said it is evaluating overtures from the US regarding President Donald Trump's tariffs.

Hong Kong's Hang Seng surged 1.7% to 22,493.96, while markets in Shanghai were closed for a public holiday. Taiwan's benchmark jumped 2.2%.

Tokyo's Nikkei 225 picked up 1.1% to 36,844.97, while South Korea's Kospi rose 0.4% to 2,565.89. Australia's S&P/ASX 200 added 1.1% to 8,231.60.

The US stocks rallied on Thursday amid solid earnings from big tech. The Dow Jones Industrial Average gained 83.42 points, or 0.21%, to 40,752.78, the S&P 500 advanced 35.04 points, or 0.63%, to 5,604.11 levels and the Nasdaq Composite rose 264.40 points, or 1.52%, to 17,710.74 levels.

As many as 2,938 stocks traded on the NSE on Friday. Out of this, 1,192 advanced, and 1,651 stocks declined, while 95 scrips remained unchanged.

A total of 26 stocks hit their 52-week highs, while 31 stocks touched their one-year lows. Besides, 63 stocks hit their upper circuit limits, and 67 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹420.69 lakh crore at the end of the session.

The volatility index India VIX rose 0.19% to 18.26 levels.

On Friday, the broader market underperformed the main benchmark indices. The Nifty Midcap 100 index settled at the 53,705.10 level, falling 0.78%, while the Nifty Smallcap 100 index slipped 0.04% to the 16,441.80 level.

Among sectors, Nifty Oil and Gas (0.73%) rose the most, followed by Nifty Media (0.49%) and Nifty IT (0.27%).

Nifty Consumer Durables (-1.39%), Nifty Metal (-0.74%) and Nifty Pharma (-0.67%) were the biggest losing sectors.

Adani Ports was the top gainer on the NIFTY50 index, surging 4.37%. Bajaj Finance (2.7%), IndusInd Bank (1.44%), State Bank of India (1.41%) and Hindalco (1.32%) were the other most contributing stocks.

On the other hand, JSW Steel (-5.81%), Bajaj Auto (-2.75%), Eicher Motors (-2.5%), HDFC Life Insurance (-2.31%) and Hero MotorCorp (-2.26%) were the biggest losing scrips on the 50-share index.

Its revenue from operations rose 23% to ₹8,488 crore in the March quarter, as against ₹6,896.50 crore registered in the year-ago period. Adani Ports' operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose 21% to ₹4,966 crore as against ₹ 4,102 crore in the same period last year.

Hero MotoCorp has sold 305,406 units of motorcycles and scooters in April 2025 as compared to 533,585 units in April 2024, i.e. down by 42.76%. In the domestic business, the company sold 288,524 units in April 2025, while the company has exported 16,882 units during the same month.