Sensex, Nifty 50 erase most gains—here are 10 key highlights from the Indian stock market today

Frontline indices—the Sensex and the Nifty 50—erased most of their gains and ended slightly higher on Friday, May 2, due to profit booking at higher levels, amid ongoing concerns over the evolving situation between India and Pakistan and the absence of fresh positive triggers.

The Sensex rose as much as 936 points to hit an intraday high of 81,177.93. However, the index finally closed just 260 points, or 0.32 per cent, higher at 80,501.99.

The Nifty 50 reclaimed 24,589.15, rising 255 points, or 1 per cent, but eventually settled with a nominal gain of 13 points, or 0.05 per cent, at 24,346.70.

The BSE Midcap and Smallcap indices, which rose up to a per cent in the morning session, ended with losses of 0.41 per cent and 0.07 per cent, respectively.

Indian stock market: 10 key highlights of the day

Let's take a look at 10 key highlights of the stock market today:

1. Why did the Sensex, Nifty 50 give up gains?

The Nifty 50 ended flat for the third consecutive session amid ongoing concerns over geopolitical tensions, uncertainty surrounding tariff deals, and fears of a US recession.

According to Amit Jain, the co-founder of Ashika Global Family Office Services, the market struggles to sustain rallies because every uptick is quickly met with profit-booking amid global uncertainty. Factors like Trump’s tariff moves, fears of a US recession, and volatility in crude oil prices keep sentiment cautious.

Fresh US macro data have aggravated concerns that the world's largest economy is experiencing the pain of the trade war. A slowdown in the US economy will have a cascading effect on its trading partners.

The US GDP contracted at a 0.3 per cent annualised rate in the first quarter of the current calendar year. US manufacturing contracted for a second straight month in April. The ISM's manufacturing PMI dropped to a five-month low of 48.7 in April from 49.0 in March.

While India's macro picture looks promising amid the prospects of a normal monsoon, it cannot remain immune to global turmoil.

"While domestic fundamentals remain strong, valuations in certain pockets—especially mid- and small caps—have become stretched, prompting investors to lock in gains. Given the global noise, a 'sell on rally' mindset prevails, where traders are unwilling to hold risk for too long," said Jain.

2. Top Nifty 50 gainers today

Shares of Adani Ports and Special Economic Zone (up 4.37 per cent), Bajaj Finance (up 2.70 per cent) and IndusInd Bank (up 1.44 per cent) ended as the top gainers.

3. Top losers in the Nifty index today

Out of 32 stocks that ended with losses in the Nifty 50 index, shares of JSW Steel (down 5.81 per cent), Bajaj Auto (down 2.75 per cent) and Eicher Motors (down 2.50 per cent) ended at the top.

4. Sectoral indices today

Most sectoral indices ended with losses, with Nifty Consumer Durable falling 1.39 per cent.

Nifty Metal and Pharma dropped 0.74 per cent and 0.67 per cent, respectively.

Nifty Oil and Gas index rose 0.73 per cent, while Nifty Media and IT climbed 0.49 per cent and 0.27 per cent, respectively.

Nifty Bank closed with a nominal gain of 0.05 per cent.

5. Most active stocks in terms of volume

Vodafone Idea (36.15 crore shares), Eternal (10.5 crore shares), and Vishal Mega Mart (5.8 crore shares) were the most active stocks in terms of volume on the NSE.

6. Five stocks jump more than 10% on NSE

Jullundur Motor Agency (Delhi), Sportking India, Zodiac Clothing Company, Krystal Integrated Services and Force Motors were the five stocks that surged more than 10 per cent on the NSE.

7. Two stocks crash 10%

Godrej Agrovet (down 14.96 per cent) and G-Tec Jainx Education (down 10 per cent) were the two stocks that fell 10 per cent or more on the NSE.

8. More than 60 stocks hit upper circuits, while nearly 70 stocks hit lower circuits on NSE

As many as 63 stocks, including 63 moons technologies, Fidel Softech and Ambani Orgochem, hit their upper circuits in intraday trade on the NSE.

Some 67 stocks, including Pokarna, Sterlite Technologies and TCI Finance, hit their lower circuits on the NSE.

9. Advance-decline ratio

The advance-decline ratio tilted towards the decliners.

Some 1,651 stocks declined while 1,192 advanced and 95 remained unchanged on the NSE.

10. Nearly 70 stocks hit 52-week highs, 60 plumb 52-week lows

Some 67 stocks, including ICICI Bank, UPL, Navin Fluorine International, Max Financial Services, Mazagon Dock Shipbuilders, Godfrey Phillips India, Force Motors and Coromandel International, hit their 52-week highs in intraday trade on the BSE.

On the other hand, 58 stocks, including Sheela Foam, Praj Industries and Network People Services Technologies, hit their 52-week lows in intraday trade on the BSE.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.