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Key Points

Indian stock markets opened with robust gains on Monday, driven by strong performances from heavyweight stocks like Adani Ports and Asian Paints. Midcap and smallcap indices also showed positive momentum, reflecting broader market confidence. Foreign institutional investors continued their buying streak, purchasing equities worth Rs 2,769 crore. Analysts suggest maintaining moderate positions while monitoring geopolitical and legal developments that could impact short-term market movements.

Key Points: Nifty Sensex Surges Adani Ports Asian Paints Lead Gains

  • Sensex rises 280 points with broad-based midcap and smallcap gains
  • FIIs net buyers for 12th consecutive session
  • Technology stocks and auto sectors show strong performance
2 min read

Nifty, Sensex open higher; Adani Ports among top gainers

Indian markets open strong with Adani Ports and Asian Paints driving positive momentum amid global holiday trading conditions

"Markets continue to navigate geopolitical developments and evolving legal uncertainties - Devarsh Vakil, HDFC Securities"

Mumbai, May 5

Indian equity indices opened in the green on Monday as heavyweights like Adani Ports, Asian Paints, Titan and Tata Motors continued to support upward movement.

Around 9:22 am, Sensex was up 280 points or 0.35 per cent at 80,782 and Nifty was up 90 points or 0.37 per cent at 24,436.

Buying was seen in midcap and smallcap stocks. Nifty midcap 100 index was up 321 points or 0.6 per cent at 54,026 and Nifty smallcap 100 index was up 4 points at 16,446.

"After a positive opening, Nifty can find support at 24,300 followed by 24,200 and 24,000. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,800," said Hardik Matalia of Choice Broking.

On the sectoral front, auto, IT, pharma, FMCG and infra major gainers. PSU bank, media, realty were major laggards.

In the Sensex pack, Adani Ports, Asian Paints, Titan, Bajaj Finserv, M&M, Power Grid, HCL Tech, Tata Motors, TCS, Infosys, HDFC Bank and ITC were top gainers. Kotak Mahindra Bank, SBI, L&T and IndusInd Bank were major losers.

Major regional markets, including Tokyo, Shanghai, Hong Kong, and Seoul were closed for their respective public holidays, while Australian markets was trading in the red.

The US market closed with gains on Friday. Technology index Nasdaq surged 1.51 per cent during the session.

Devarsh Vakil, Head of Prime Research at HDFC Securities said, "markets continue to navigate geopolitical developments and evolving legal uncertainties, which may influence short-term price action amid the broader recovery trend. Traders should consider maintaining moderate positions as these factors play out."

The foreign institutional investors (FIIs) remained net buyers for the 12th consecutive session on May 2 as they bought equities of Rs 2,769 crore. Domestic institutional investors (DIIs) also bought equities of Rs 3,290 crore.

Previously net sellers, FIIs have reversed course by covering their short positions in index derivatives and becoming large buyers in cash markets. They are attracted by sector rotation opportunities and a strengthening rupee that enhances their dollar-adjusted returns.

Analysts said that markets continue to navigate geopolitical developments and evolving legal uncertainties, which may influence short-term price action amid the broader recovery trend.

- IANS

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Reader Comments

Here are 6 diverse Indian perspective comments for the market news article:
R
Rajesh K.
Good to see Adani Ports performing well despite all the controversies. Shows the resilience of Indian markets! The FIIs returning is a positive sign for long-term growth. Hope this bull run continues 🤞
P
Priya M.
As a small investor, I'm happy with midcap and smallcap gains. But experts should warn retail investors about volatility - many new investors don't understand risks. Markets can't keep going up forever!
A
Amit S.
Why are PSU banks lagging again? These are fundamentally strong stocks with good dividends. Media keeps focusing only on private banks and tech stocks. Give some love to PSUs too!
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Sunita R.
The rupee strengthening is great news for my IT stocks! But I worry about geopolitical risks - one bad news from US or China and markets can correct sharply. As Vakil said, better stay moderate.
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Vikram J.
FIIs buying for 12 straight sessions is very bullish! But remember 2008 - when they exit, they exit fast. Retail investors should book partial profits at these levels. Nifty at 24,500 looks stretched.
N
Neha T.
Auto and infra stocks shining shows domestic economy is strong 💪 But media should explain why some stocks like Kotak Bank are falling when overall market is up. More balanced reporting needed!

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