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Informist, Monday, May. 5, 2025

By Akash Mandal

MUMBAI – Benchmark indices ended higher for the second straight session Monday aided by buying from foreign investors, a sharp fall oil futures, and lack of major negative news over tensions between India and Pakistan, analysts said.

The Nifty 50 ended at 24461.15 points, up 114.45 points or 0.5%, and the BSE Sensex ended at 80796.84 points, up 294.85 points or 0.4%. Index heavyweight Reliance Industries was the biggest contributor to the rise in the Nifty 50 and ended nearly 1% higher amid sharp fall in oil futures.

The 50-stock index traded in range of 125 points Monday and managed to end at its highest level since Dec. 16. Broader market indices ended 1-2% higher. These indices have now risen 16-17% from the lows hit post reciprocal tariff announcement on Apr. 3.

Shares of Adani group companies were among the biggest gainers Monday as all listed entities of the group soared after media reports said representatives of the group's Chairman Gautam Adani met US administration officials Sunday to seek dismissal of criminal charges against him in a $265 million bribery case. Talks between the company's officials and US government has gathered steam in recent weeks and the issue could be resolved within a few months, Bloomberg reported. 

Adani Ports ended over 6% higher after coming off lows from nearly 9% intraday gains. Adani Enterprises also came off highs to end 7% higher. The stock was up 9% in early trade at INR 2,497, its highest level since Jan. 16, when US-based investment and research firm Hindenberg Research had announced they would be shutting down their operations. These two stocks were the top gainers in the Nifty 50. Adani Total Gas, Adani Green Energy, and Adani Power ended 6-11% higher.

Kotak Mahindra Bank was the worst hit on the 50-stock index and closed nearly 5% lower. The stock had fallen 6% in early trade after various brokerages expressed concern about slowdown in the bank's credit growth in the March quarter and high valuations of the stock. Nuvama Institutional Equities and Nirmal Bang Institutional equities both downgraded the stock to 'hold' from 'buy'.

Nuvama raised its target price by over 15% to INR 2,350 and Nirmal Bang raised its target price by just 1% to INR 2,372. State Bank of India also ended over 1% lower. Brokerages said the state-owned bank has cut its credit growth projection for FY26 to 12-13% from 14-16%, which analysts said is likely done to factor in the impact of the US tariffs on the Indian economy.

Shares of Mahindra & Mahindra ended over 3% higher after the company's top line and bottom line for the March quarter rose over 20% on year. Strong volumes in the company's automobiles and farm equipment segments aided the strong earnings by the company.

Shares of oil marketing companies surged after the crude oil prices fell sharply. At 1549 IST, the July contract of the Brent Crude oil futures fell over 1% to $60.60 per barrel after the Organization of the Petroleum Exporting Countries and its allies announced an increase in crude oil production. Hindustan Petroleum Corp., Indian Oil Corp., and Gujarat State Petronet ended 3-7% higher.

Among other stocks, Swiggy soared 13% after the company doubled down on expanding its 10-minute delivery service 'Bolt', while rival Eternal announced it was exiting the 10-minute food delivery service 'Quick'. Swiggy announced that 'Bolt' has expanded to over 500 cities across India, Moneycontrol reported.

R R Kabel rose to a three-month intraday high and ended 15% higher after both its consolidated net profit and revenue jumped sharply on year. Netweb Technologies came off highs but ended 13% higher after its net profit for the March quarter rose 42% on quarter owing to strong growth in its artificial intelligence systems segment. Gravita India ended 7% higher after its consolidated net profit for the quarter rose 38% on year and beat the Street's view.

On other hand, Jindal Saw ended 4% lower and was among the worst hit in the Nifty 500 after its net profit and revenue for the March quarter fell over 10% each. KFin Technologies ended 4% lower despite positive earnings for the March quarter and bullish commentary by brokerages. The stock has ended lower for three straight sessions, falling 14% over this period.

* Of the Nifty 50 stocks, 38 rose and 12 fell

* Of the Sensex stocks, 18 rose and 12 fell

* On the NSE, 2,023 stocks rose, 856 fell, and 96 were unchanged

* On the BSE, 2,562 stocks rose, 1,460 fell, and 180 were unchanged

* Nifty PSU Bank: down 2.2%; Nifty Media: down 2.2%; Nifty Realty: up 1.9%

BSE                                               NSE

Sensex: 80796.84, up 294.85 points or 0.4%        Nifty 50: 24461.15, up 114.45 points or 0.5%

End

Edited by Akul Nishant Akhoury

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