New Delhi, May 4, 2026: Indian equity benchmarks ended higher on Monday, supported by strong political and global cues that lifted investor sentiment. Markets rallied after the Bharatiya Janata Party, led by Narendra Modi, secured a historic victory in West Bengal and retained power in Assam.
Investor confidence was further boosted by easing global concerns after former US President Donald Trump indicated that the United States would assist in freeing ships stranded in the Gulf amid tensions linked to the US-Israel conflict with Iran. The statement triggered a sharp fall in global crude oil prices, providing additional support to equities.
Markets Rally but Trim Gains
The BSE Sensex surged as much as 997 points during the session, while the Nifty 50 touched an intraday high of 24,290. The rally was led by heavyweight stocks such as Reliance Industries, HDFC Bank, Larsen & Toubro, Adani Ports, Hindustan Unilever and ICICI Bank.
However, both indices pared some gains due to profit booking at higher levels.
- Sensex ended 356 points higher at 77,269
- Nifty 50 rose 122 points to close at 24,119
Election Results Drive Optimism
The BJP was leading in 193 out of 293 seats in West Bengal, marking its first victory in the state, while it maintained a strong lead in Assam with 99 out of 126 seats.
In other states:
- Actor Vijay-led TVK was ahead in Tamil Nadu with 105 seats
- The Congress-backed UDF was leading in Kerala with 90 out of 140 seats
Analysts believe that BJP’s entry into West Bengal could strengthen its presence in the Rajya Sabha, potentially ensuring greater policy stability going forward.
Sectoral Performance: Realty Leads
Out of 15 sectoral indices on the National Stock Exchange (NSE), 11 ended in the green.
- Nifty Realty index jumped 2.4%
- Nifty Healthcare, Metal, Pharma, FMCG, Auto, and Financial Services indices gained between 0.4% and 1%
Broader markets also showed strength:
- Nifty Midcap 100 rose 0.63%
- Nifty Smallcap 100 advanced 0.7%
Stock-Specific Highlights
- Dr Lal PathLabs surged 20% to ₹1,640 on strong volumes
- HFCL jumped 11% to a 52-week high of ₹128.49 after securing orders worth ₹84.23 crore along with its subsidiary HTL Limited
Trading volumes across both exchanges crossed 7.9 million shares, according to Trendlyne data.
Top Gainers and Losers
Top Gainers (Nifty 50):
- Adani Ports (+5.4%)
- Eicher Motors
- Jio Financial Services
- Adani Enterprises
- Reliance Industries
- Shriram Finance
- Hindustan Unilever
- Larsen & Toubro
Top Loser:
- Kotak Mahindra Bank fell 3.18% to ₹371 after its Q4 earnings disappointed investors, despite reporting a 13% rise in net profit to ₹4,027 crore.
Other laggards included:
- Bharti Airtel
- Dr Reddy’s Laboratories
- ONGC
- TCS
- Infosys
- ITC
Market Breadth Remains Positive
Market breadth remained firmly positive, with 2,140 stocks advancing and 1,187 declining on the NSE.
