Market Wrap, May 5: SENSEX gains 295 pts, NIFTY50 ends above 24,400 mark as broader market outperforms; Adani group stocks rally

The Indian stock market firmed up on Monday, May 5, with both NIFTY50 and SENSEX rallying amid continued foreign fund inflows, positive global cues and a sharp drop in crude oil prices.

At close, the S&P BSE SENSEX settled at 80,796.84, surging 294.84 points, or 0.37%, while the NSE's NIFTY50 index ended at 24,461.15, rising 114.45 points, or 0.47%.

The broader market also witnessed an optimistic session as both midcap and smallcap indices gained over 1%.

Among sectors, auto, oil and gas and FMCG were the top gainers, while Nifty Bank tanked the most, dragged down by Kotak Mahindra Bank shares.

Rallying in the Adani Group stocks also extended support to the equity indices and broader market as well.

Falling crude oil prices boosted the market investors. OMC-related stocks soared higher on Monday.   During the weekend, the OPEC+ group of eight nations announced it will raise its output by 411,000 barrels per day as of June 1, stepping up production increases.

Meanwhile, according to the data with the depositories, the foreign portfolio investors (FPIs) made a net investment of ₹4,223 crore in equities in the entire April.

The FPIs have bought equities worth ₹2,769 crore on Friday, and the domestic institutional investors (DIIs) also supported it with ₹3,290 crore worth of buying in the Indian equities.

Among global markets, markets were closed in Shanghai, Hong Kong, Tokyo and Seoul. Australia's S&P/ASX 200 lost 0.7% to 8,182.90, while Taiwan's Taiex declined 2.1%.

The US markets last week closed positive, backed by strong economic data and potential easing of trade tensions between the US and China. The S&P 500 reached its ninth consecutive session of gains.

The Dow Jones Industrial Average advanced 564.47 points, or 1.39%, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47%, to 5,686.68, and the Nasdaq Composite rose 266.99 points, or 1.51%, to 17,977.73.

As many as 2,984 stocks traded on the NSE on Monday. Out of this, 2,023 advanced, and 865 stocks declined, while 96 scrips remained unchanged.

A total of 29 stocks hit their 52-week highs, while 32 stocks touched their one-year lows. Besides, 94 stocks hit their upper circuit limits, and 66 touched their lower circuit bands on Monday.

At the end of the session, NSE-listed firms' market capitalisation stood at ₹425.25 lakh crore.

The volatility index India VIX was at 18.34 levels, marginally rising by 0.43%.

Except for Nifty Private Bank (-0.80%) and Nifty PSU Bank (-0.04%), all the other sectoral gauges closed with gains. Nifty Auto was the top contributor, climbing 1.85%, followed by Nifty Oil and Gas (1.7%), Nifty FMCG (1.22%), Nifty Metal (0.96%) and Nifty Consumer Durables (0.95%).

The Nifty Midcap 100 index surged 1.81% to 54,675.75 levels, while the Nifty Smallcap index closed at 16,609.90, rising 1.02%.

Adani Enterprises was the top gainer on the NIFTY50 pack, soaring 7.44%. Adani Ports (6.27%), Trent (4.51%), Shriram Finance (4.24%), and Bajaj Finserv (3.63%) were the other winners.

On the other hand, Kotak Mahindra Bank (-4.59%), JSW Steel (-1.85%), ONGC (-1.45%), State Bank of India (-1.18%) and Titan (-0.78%) were the most losing stocks on the 50-share index.

At close, Adani Enterprises shares ended at ₹2,465 apiece on NSE, rising 7.44%. It was the top contributor on NIFTY50 idnex.

The flagship company of billionaire Gautam Adani's group had reported a 7.5-fold jump in its fourth quarter net profit on the back of a one-time gain from a stake sale in a consumer goods venture and strong growth in solar manufacturing and airports.

Net profit of ₹3,845 crore in January-March—the fourth quarter of the April 2024 to March 2025 fiscal year—compared with ₹450.58 crore earnings in the same period a year back, according to a company statement. The profit rise was helped by a ₹3,286 crore gain made from the sale of a stake in Wilmar.

During intraday period, shares of Kotak Mahindra Bank were trading at ₹2,091.20 apiece on the National Stock Exchange, declining 4.3%. At close, the bank shares ended 4.59% lower at ₹2,085 apiece on NSE. It was the biggest losing stock on the 50-share index.

One of the leading players in the FMCG segment last week reported a consolidated net profit of ₹343 crore for the quarter ended March 31, 2025 (Q4 FY25), up 7.86% against the ₹318 crore profit logged in the year-ago period.

Revenue from operations for the quarter under review came in at ₹2,730 crore, up 19.84% against ₹2,278 crore registered in the corresponding quarter of the previous fiscal.