The Indian stock market benchmarks — the Sensex and the Nifty 50- ended higher on Monday, 4 May. Both indices jumped by more than 1% during the session, but pared gains amid profit-taking as crude oil prices rose by more than 1%.
The 30-share pack Sensex closed 356 points, or 0.46%, higher at 77,269.40, while the NSE barometer Nifty 50 rose by 122 points, or 0.51%, to close at 24,119.30.
As many as 37 stocks ended in the green in the Nifty 50 index, among which Adani Ports and Special Economic Zone, Eicher Motors, and Jio Financial Services ended as the top gainers.
On the flip side, Kotak Mahindra Bank, Bharti Airtel, and Dr Reddy’s Laboratories ended as the top losers in the index.
The Nifty Midcap 150 and the Nifty Smallcap 250 gained 0.71% and 0.98%, respectively.
Among the sectoral indices, Nifty Bank ended almost flat, while IT, Media, PSU Bank, and Private Bank ended in the red.
Nifty Realty index jumped 2.41%. Healthcare and Metal indices rose by more than 1% each.
Investors earned over ₹4 lakh crore in a single session as the overall market capitalisation of BSE-listed firms jumped to more than ₹467 lakh crore from ₹463 lakh crore in the previous session.
Why did the Indian stock market rise?
Let’s take a look at four key factors behind the rise in the Indian stock market:
1. Assembly Election results trends
According to some experts, the market is reacting to the results trends of the Assembly Elections 2026 in West Bengal, Tamil Nadu, Kerala, Assam, and Puducherry.
Experts say that the BJP’s victory in Assam, West Bengal, and Puducherry, and an improved performance in Kerala and Tamil Nadu, may bring border stability, thereby fueling business and industrial activities.
“As the market had an idea about the Assam and Puducherry election results, it was mixed on the West Bengal election results. So, if the positive trends continue and BJP’s margin gets further extended against its rival Mamata Banerjee’s Trinamool Congress, there can be a spike in the Indian stock market,” said Sandeep Pandey, Co-founder of Basav Capital.
2. US-Iran peace talk hopes rise
US President Donald Trump on Saturday said he will review Tehran’s new proposal after the West Asian country submitted a 14-point proposal to mediator Pakistan. According to Iran’s Tasnim and Fars news agencies, Tehran’s plan includes a proposal to end the conflict on all fronts and to enact a new framework for the Strait of Hormuz waterway.
Meanwhile, on Sunday (local time), Trump said that US representatives are engaged in “very positive” talks with Iran.
3. Positive global cues
Positive Asian markets also influenced sentiment. Korea’s Kospi jumped by 5% during the session amid positive news flows surrounding the West Asian conflict, while Markets in Japan and China are closed for a holiday.
4. Technical factor
According to ICICI Securities, the major Call base for the weekly expiry is placed at the 24500 levels, which is likely to act as stiff resistance in the short term. On the other hand, the Put base remains at 24000 levels.
“Going ahead, we continue to believe that 23,800 levels should act as major support and only below it, we should expect fresh weakness. On the higher side, 24,500 levels are likely to act as an intermediate hurdle,” said the brokerage firm.
Hitesh Tailor, a research analyst at Choice Equity Broking, said immediate support for the Nifty 50 is placed in the 23,850–23,900 zone, while resistance is seen in the 24,250–24,300 range. RSI hovers around the midpoint, suggesting neutral momentum, while rising volatility reflects a cautious undertone in the market, said Tailor.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
About The Author
