Closing Bell: Nifty Moves Above 24,450, Sensex Soars 295 Points; Adani Ports, Adani Enterprises, Trent, Shriram Finance Among Top Gainers

The Indian benchmark indices ended on a strong note today, May 5, amid buying activity across all sectors except banks. Sensex closed at 80,796.84, up 294.85 points or 0.37%, while Nifty was up 114.45 points or 0.47% at 24,461.15. Close to 2462 shares advanced, while 1404 shares declined. Meanwhile, the value of 171 shares remained unchanged.

Shares of Adani Ports, Adani Enterprises, Trent, Shriram Finance, M&M emerged among the major gainers on the Nifty, while Kotak Mahindra Bank, ONGC, Dr Reddy's Labs, JSW Steel, SBI turned out to be major losers.

All sectoral indices ended in green except bank, while auto, power, energy, consumer durables, metal, FMCG, Oil & Gas went by by 1% each.

Shrikant Chouhan, Head Equity Research, Kotak Securities said, “Today, the benchmark indices continued positive momentum, the Nifty ends 114 points higher while the Sensex was up by 295 points. Among Sectors, Defense, Auto and tourism indices gained over 1 percent whereas selective Banking stocks witnessed intraday profit booking at higher levels. Technically, after a gap up open market registered range bound activity. On daily charts it has formed small bullish candle and on intraday charts it is holding uptrend continuation formation.

We are of the view that, 24375/80500 would act as a key support zone for the trend following traders. Above the same, the market could move up to 24600-24675/81000-81300. On the other side, dismissal of 24375/80500 could trigger a quick intraday correction. Below the same, market could retest the level of 24300-24250/80200-80000.”

Vinod Nair, Head of Research, Geojit Investments said, “The market has sustained its positive momentum, though the level of optimism has decreased. Continued foreign inflows and record GST collections in April indicate resilience in economic activity, fostering mild hopefulness. A weak dollar and a decline in oil prices have further bolstered FII sentiment. However, the market’s momentum is moderating, with action shifting from broad-based movements to stock and sector-specific trends based on results.

Over the past month, the broad market has recouped more than 50% of the losses incurred during the consolidation period from September 2024 to March 2025. Q4 results to date have been sluggish, and there is a thin layer of caution due to border tensions, which could have a short-term impact on the market.”

The Indian rupee appreciated by 32 paise to close at 84.24 per dollar today, compared to Friday’s close of 84.56.