Sensex, Nifty Close In Green For Second Straight Day - Adani Enterprises, Adani Ports Emerge As Top Gainers

Stock Market News: Headline indices extended gains for the second straight day. The 30-share Sensex ended higher by 294.85 points or 0.37 per cent at 80,796.84. The Nifty 50 index closed higher by 114.45 points or 0.47 per cent at 24,461.15.

Adani Group Stocks Lead Nifty Gainers

Shares of Adani Enterprises Ltd and Adani Ports and Special Economic Zone Ltd gained the most among constituents of the Nifty 50 index as they closed higher by up to 7.44 per cent on the NSE. Other major gainers included Trent Ltd, Shriram Finance Ltd and Bajaj Finserv Ltd which closed up to 4.51 per cent higher. On the other hand Kotak Mahindra Bank, JSW Steel Ltd, Oil & Natural Gas Corporation Ltd and State Bank of India Ltd as they closed lower by as much as 4.59 per cent. Notably, 38 constituents of the Nifty 50 index ended in the green on May 5 while 12 stocks ended in the red.

Most Major Sectoral Indices Close In Green

Most major sectoral indices closed in the green on May 5 except the Nifty Bank index which closed lower by 0.36 per cent. On the other hand the Nifty Auto and the Nifty Oil & Gas index closed higher by 1.85 per cent and 1.7 per cent respectively. Broader market indices such as the Nifty MidCap 100 and the Nifty SmallCap 100 closed higher by up to 1.81 per cent.

Global Markets

Wall Street indices ended mixed such as the S&P 500 and the Nasdaq Composite ended higher by as much as 1.51 per cent. On the other hand the Dow Jones Industrial Average closed lower by 0.64 per cent. At the time of writing European indices such as the CAC 40 traded lower by 0.68 per cent and the DAX Performance index traded higher by as much as 0.51 per cent.

Two New SME IPOs Open For Bidding

The bidding window of Srigee DLM IPO and Manoj Jewellers IPO opened for subscription on May 5. Srigee DLM Ltd aims to raise Rs 16.98 crore through a fresh issuance of 17.15 lakh shares. Manoj Jewellers Ltd plans to raise Rs 16.2 crore through an entirely fresh issue of 30 lakh shares.

Cues To Watch

On May 5, crude oil prices declined following the OPEC+ decision to ramp up oil production. D-street is also expected to experience continued volatility as tensions between India and Pakistan continue to escalate post the Pahalgam terror attack.