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Informist, Wednesday, May 6, 2026

 

By Arundathi A R

 

MUMBAI – After a highly volatile session on Wednesday, bulls took control of the domestic equity market, pushing the headline indices sharply higher. The fall in crude oil prices and gains in Asian markets helped the indices rebound. The market extended gains in the final hour of trade after Brent crude fell 3% on reports that the US and Iran were nearing an agreement to end the war.

 

The Nifty 50 settled at 24330.95, up 1.2% or 298.15 points. The BSE Sensex closed at 77958.52, up 1.2% or 940.73 points. At 1539 IST, the July Brent crude futures contract was nearly 8% lower, at $101.50 per barrel.

 

"The White House believes it's getting close to an agreement with Iran on a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations," Axios reported, quoting US officials.

 

Crude oil prices fell on hopes of a positive deal between the US and Iran. On Tuesday, US President Donald Trump said the US will pause "Project Freedom", the naval effort aimed at guiding commercial vessels through the Strait of Hormuz, to see whether a deal with Iran can be finalised. Trump claimed that "Great Progress had been toward a Complete and Final Agreement with Representatives of Iran."

 

Broader market indices outperformed their benchmarks. Small-cap and mid-cap indices closed around 2% higher. India VIX fell almost 7% to 16.6775, showing the fading nervousness among investors. Barring the Nifty FMCG and Nifty Energy indices, all sectoral indices settled in the positive territory.

 

Banking and financial services stocks supported the 50-stock index with most gains. Shriram Finance was the top-gainer in financial services, up over 4%. Index heavyweight HDFC Bank and State Bank of India closed over 3% higher. Axis Bank, Bajaj Finserv, Bajaj Finance, HDFC Life Insurance Co., and SBI Life Insurance Co. closed with 2% gains each. The Nifty PSU Bank, Nifty Bank, and Nifty Financial Services were among the top-gaining sectoral indices, ending nearly 3% higher each.  

 

Shares of banking and airline companies gained as the Union Cabinet Tuesday approved an Emergency Credit Line Guarantee Scheme with an outlay of INR 181 billion to support micro, small, and medium enterprises and airlines affected by the war in West Asia. Shares of Interglobe Aviation were the top gainers in the Nifty 50 index, ending up nearly 7%. Asian Paints was also among the top gainers, ending nearly 4% higher.

 

Automobile stocks also gained, with shares of Tata Motors Passenger Vehicles ending over 5% higher. Mahindra & Mahindra closed almost 3% higher after hitting a two-month high of INR 3,315.70. The stock rose higher after the company reported a 53% on-year increase in its net profit for the March quarter.

 

Shares of SRF, which gained nearly 8%, ended among the highest gainers in the Nifty 200 index. The company's earnings for the March quarter beat analysts' expectations, with the consolidated net profit rising almost 11% on-year.

 

Wockhardt, which ended nearly 12% higher, was the top gainer in the Nifty 500. The stock rose for the second straight session after it reported a consolidated net profit of INR 1.66 billion for the March quarter compared with a net loss a year ago. The stock gained over 23% in the last four sessions.

 

Shares of Coforge ended with the highest gains in the Nifty 200 index, up nearly 10%. The stock rose after the company's consolidated net profit more than doubled both year-on-year and quarter-on-quarter. For the March quarter, Coforge reported a consolidated net profit of INR 6.12 billion, sharply above analysts' estimate of INR 4.38 billion.

 

Energy and fast-moving consumer goods stocks limited the gains in the 50-stock index. Oil and Natural Gas Corp. was the worst-hit Nifty 50 constituent, closing over 3% lower. Reliance Industries ended nearly 2% lower. Oil India was the top loser in both the Nifty 200 and Nifty 500 indices, ending nearly 6% lower. The stock ended lower for the fourth session in the last five days.

 

Hindustan Unilever and Tata Consumer Products ended 0.1-0.4% lower. Godrej Consumer Products closed nearly 1% lower ahead of its March quarter results. The Nifty FMCG and Nifty Energy were the only losers among the sectoral indices, settling 0.3-0.5% lower.

 

* Of the Nifty 50 stocks, 35 rose and 15 fell

* Of the Sensex stocks, 21 rose and 9 fell

* On the NSE, 2,457 stocks rose, 843 fell, and 74 were unchanged

* On the BSE, 2,862 stocks rose, 1,365 fell, and 172 were unchanged
* Nifty PSU Bank: up 2.8%; Nifty Realty: up 2.6%; Nifty Energy: down 0.5%

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BSE                                              NSE

Sensex: 77958.52, up 940.73 points or 1.2%       Nifty 50: 24330.95, up 298.15 points or 1.2%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 94.61

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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