The Indian stock market showed strong positive momentum on May 4, 2026, with the Nifty 50 closing at 24,063.55 points, gaining 0.51% and the Sensex closing at 77,257.27 points, up 0.46%. According to Team Dhan reports, the market rally was driven by BJP's sweeping victory in state elections and easing tensions in the Hormuz region. The Nifty Bank index closed at 54,937.90, gaining 74.55 points (0.14%). The positive sentiment was broad-based with BHEL doubling its profits and Vedanta surging 8.5%, reflecting strong investor confidence across sectors.
Adani Ports & Special Economic Zone Ltd emerged as the top performer with shares closing at ₹1,702.00, gaining ₹2.70 (0.91%). As reported by ET Now, Bajaj Auto Ltd followed with a gain of ₹2.50 (0.91%) to close at ₹10,244.00. Other notable gainers included Maruti Suzuki India Ltd at ₹13,559.00 (1.84%) and Interglobe Aviation Ltd at ₹4,349.00 (1.25%). Vedanta Ltd surged 8.5% following strong earnings results, while BHEL doubled its profits, contributing significantly to the market's positive momentum.
Power Grid Corporation of India Ltd led the declines, falling ₹314.00 (1.37%) to close at ₹314.00 with a trading volume of 1.96 lakh shares. According to ET Now data, Kotak Mahindra Bank Ltd was the second-biggest loser, declining ₹378.90 (1.15%) to ₹378.90 with a volume of 4.40 lakh shares. Tata Motors Passenger Vehicles Ltd also faced selling pressure, dropping ₹338.40 (0.92%) to ₹338.40 with 1.54 lakh shares traded. Other notable decliners included Adani Enterprises Ltd and Bharti Airtel Ltd.
As reported by ET Now, the trading session saw significant volume movements across major stocks. Power Grid Corporation of India Ltd recorded the highest trading volume among losers at 1.96 lakh shares, while Kotak Mahindra Bank Ltd led among gainers with 4.40 lakh shares traded. The market showed mixed investor sentiment with auto and infrastructure stocks leading gains, while banking and power sector stocks faced selling pressure during the trading session. The positive momentum was supported by BJP's electoral victories and easing geopolitical tensions, creating a favorable environment for risk assets.
