Sensex, Nifty Gains as Auto, metal, oil & gas, and power sectors saw a one percent increase each, while bank and realty indices ended marginally in the red.
Indian markets rebounded on May 2, with the Nifty rising to 22,650 after Fed Chair’s comments on rate hike, keeping key interest rates unchanged.
The Nifty rose to 22,700, with buying across sectors except realty and banking. Top gainers included BPCL, Power Grid Corporation, Asian Paints, Bajaj Auto, Tata Motors.
Sectors and stocks
The BSE midcap index and smallcap index saw gains, while individual stocks like Dabur, Indiamart Intermesh, and Bosch experienced significant volume spikes, with Cholamandalam Investment and Finance Company, REC, and Indiamart Intermesh experiencing long build-ups.
Auto, metal, oil & gas sectors saw a one percent increase, while bank and realty indices ended marginally in the red.
Over 250 BSE stocks reached 52-week highs, including REC, Ashok Leyland, BHEL, CESC, Federal Bank, Grasim Industries, IRCTC, Jindal Steel, M&M, Mangalam Cement, MOIL, NTPC, Petronet LNG, Polycab, Power Grid Corporation, Raymond, REC, Sobha.
May 03 Forecast
The Nifty and Bank Nifty experienced consolidation, with the Nifty closing in the green up 43 points and the Bank Nifty down 166 points. The Nifty is likely to consolidate within the 22,700 and 22,450 resistance ranges, while the Bank Nifty may also consolidate.
The Nifty closed slightly higher after a volatile trading session, with a lower peak and weak momentum, potentially continuing sideways within the 22500-22800 range.
| FII Bought | -964.47 Cr |
| DII Bought | 1,352.44Â Cr |
Indian Market Stocks
| Sensex | 128.33 | +0.17% | 74,611.11 |
| Nifty 50 | 43.35 | +0.19% | 22,648.20 |
| Nifty Bank | -165.70 | -0.34% | 49,231.05 |
Market Movers
| BPCL | 27.30 4.49% | Kotak Mahindra | -48.30 -2.97% |
| Power Grid Corp | 11.75 3.89% | TATA Cons. Prod | -17.20 -1.55% |
| Asian Paints | 99.50 3.46% | Bharti Airtel | -18.25 -1.38% |
| Bajaj Auto | 207.00 2.32% | Axis Bank | -16.05 -1.38% |
| Tata Motors | 19.90 1.97% | HDFC Life | -7.30 -1.25% |
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Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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