Share Market Today: Nifty 50 Rebounds to 24,119 | Bank Nifty Levels & Top Stocks

May 4, 2026

Indian Stock Market Today | Indian equity markets staged a strong recovery on Monday, May 4, rebounding from Thursday’s sharp sell-off.

The recovery was anchored by robust April auto sales data, strong earnings from India Inc. and early leads from local assembly elections (West Bengal, Tamil Nadu, Assam, Kerala and Puducherry).

The benchmarks opened the week on a firm footing, with the Nifty 50 briefly nearing the 24,300 mark in early trade.

However, as uncertainty looms over the U.S. “Project Freedom” initiative to reopen the Strait of Hormuz, mid-session profit booking pared some gains.

Market Snapshot: Indices at a Glance

The Bank Nifty index underperformed, dragged by Kotak Bank, which fell over 3% after its Q4 results.

Broader Market Strength

The rally was well-supported by the broader indices, with the Nifty Smallcap 100 index rising 0.7% and the Nifty Midcap 100 index gaining 0.6%.

Market breadth remained healthy, with an NSE Advance-Decline ratio of 2:1.

Sectoral Performance

Nifty Gainers & Losers

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 66 points higher at 24,063.55, reached a high of 24,290.20 and closed at 24,119.30.

• Immediate Support: 24,000
• Immediate Resistance: 24,250

BANK NIFTY: Opened 74.55 points higher at 54,937.90, reached a high of 55,602.30 and closed at 54,878.50.

• Immediate Support: 54,600
• Immediate Resistance: 55,200

Top Trending Stocks Today

• Ideaforge Technology: Stock hit the 20% upper circuit as Q4 revenue surged 7x YoY to ₹141 crore (vs ₹20 crore); net profit at ₹60 crore vs ₹26 crore loss last year.
• Bharat Heavy Electricals: Stock jumped 7% after Q4 net profit more than doubled YoY to ₹1,283 crore, with revenue up 37% to ₹12,310 crore.
• Vedanta: Stock rose 8.5% following its demerger record date, as the company moves ahead with plans to split into five separately listed entities. Read more: Vedanta Demerger 2026

Global Trends & Commodity Update

• Asian Equities: Advanced on Monday, led by strong gains in tech-heavy markets such as South Korea and Taiwan. Markets in mainland China and Japan remained closed for Golden Week holidays.
• European Markets: Traded lower, weighed down by concerns over global trade tensions following reports of an attack on a US warship in the Strait of Hormuz, heightening Middle East risks.
• Oil Prices: Crude remained elevated and volatile, with Brent holding above $110/bbl amid escalating U.S.–Iran tensions and supply risks near the Strait of Hormuz.
• Gold Prices: Slipped in thin trading, pressured by a stronger U.S. dollar and rising inflation concerns, which dampened expectations of near-term rate cuts despite geopolitical tensions.

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