New Delhi, 06 May (H.S.):
The share market witnessed a strong rally today due to hopes of peace in West Asia. Trading commenced on a firm note. After the market opened, buying support propelled both Sensex and Nifty indices upward, but profit booking soon led to a downturn. Selling pressure persisted until around 1 PM.
Thereafter, following US President Donald Trump's announcement to temporarily halt Project Freedom—the naval operation securing merchant ships in the Strait of Hormuz—market sentiment revived. Trump's statement fueled hopes of reconciliation between the US and Iran, causing a sharp decline in crude oil prices. This dramatically improved stock market sentiments. At the end of the day's trading, Sensex closed up 1.22% and Nifty 1.24%.
Most sectoral indices closed higher during the day's trading.
Robust buying was seen in banking, automobile, and healthcare sectors. Similarly, public sector enterprises, tech, oil & gas, metal, consumer durables, capital goods, and IT indices ended in the green. On the other hand, FMCG and power indices closed lower in red. Broader markets also saw consistent buying, with Nifty Midcap index closing 1.76% higher. The Smallcap index ended the day with a 1.93% gain.
The market rally today boosted investors' wealth by over ₹6.5 lakh crore. BSE-listed companies' market capitalization rose to ₹473.02 lakh crore (provisional) after trading, compared to ₹466.51 lakh crore on Tuesday. Thus, investors earned approximately ₹6.51 lakh crore in profits from today's session.
BSE saw active trading in 4,394 shares today. Of these, 2,862 closed higher, 1,365 lower, and 167 unchanged. NSE had active trading in 2,967 shares, with 2,230 closing in profit (green) and 737 in loss (red). Among Sensex's 30 stocks, 21 closed higher and 9 lower. In Nifty's 50 stocks, 35 ended green and 15 red.
BSE's Sensex opened 406.57 points higher at 77,424.36. Buying support post-open pushed it up 657.22 points to 77,675.01. Profit booking then triggered selling, causing it to fall 901.76 points from the day's high to 76,773.25 (down 244.54 points) around 1 PM.
Hopes of West Asia reconciliation and falling crude prices then reignited enthusiasm, prompting widespread buying. Sustained purchases lifted the index 1,249.53 points from the low to 78,022.78 shortly before close. It closed at 77,958.52, up 940.73 points.
Similarly, NSE's Nifty opened 138.20 points higher at 24,171. Initial buying took it up 218.05 points to 24,250.85. Profit booking ensued, dropping it 252.95 points from the high to 23,997.90 (down 34.90 points) around 1 PM.
Buyers then returned aggressively, improving Nifty's trajectory. Buying support pushed it 358.60 points from the low to 24,356.50 shortly before close. It ended at 24,330.95, up 298.15 points, slightly off the high.
Among major stocks, InterGlobe Aviation rose 6.65%, TMPV 5.29%, Shriram Finance 4.12%, Trent Ltd 3.73%, and Asian Paints 3.66% to become the top 5 gainers. ONGC fell 3.16%, Reliance Industries 1.76%, Larsen & Toubro 1.13%, Power Grid Corporation 1.10%, and NTPC 0.95% as top 5 losers.
---------------
Hindusthan Samachar / Jun Sarkar
