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Trendlyne Marketwatch
04 May 2026
Market closes higher amid broad-based buying
By Trendlyne Analysis

 

Nifty 50 closed at 24,119.30 (121.8, 0.5%), BSE Sensex closed at 77,269.40 (355.9, 0.5%) while the broader Nifty 500 closed at 22,830.75 (147.2, 0.7%). Market breadth is in the green. Of the 2,777 stocks traded today, 1,729 were in the positive territory and 1,000 were negative.

Indian indices closed higher, supported by early state election trends that triggered broad-based buying. The Indian volatility index, Nifty VIX, fell 0.9% and closed at 18.3 points. India’s Manufacturing Purchasing Managers’ Index (PMI) rose to 54.7 in April from 53.9 in March, signalling a modest recovery in factory activity, while input cost pressures persisted amid the Middle East conflict.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. BSE Hospitals and BSE Realty Index are among the top index gainers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the best-performing sector of the day, with a rise of 3.6%.

Asian indices closed higher, except for Australia’s S&P/ASX 200. European indices are trading lower, except for Germany’s DAX. US index futures are trading mixed. US President Donald Trump said he was "not satisfied" with Iran’s latest settlement proposal, indicating the ongoing deadlock may not be resolved soon. Meanwhile, eBay surged in Monday’s premarket trading after GameStop said it had submitted a $56 billion acquisition proposal for the company.

  • Relative Strength Index (RSI) indicates that stocks like Welspun Corp, Himadri Specialty Chemical and Oracle Financial Services are in the overbought zone.

  • Ambuja Cements' Q4FY26 net profit soars 78.5% YoY to Rs 1,830.2 crore, helped by a Rs 1,329.3 crore tax return. Revenue jumps 5.6% to Rs 11,149.4 crore, helped by higher sales of cement and ready mix concrete. It features in a screener of stocks with low debt.

  • Eicher Motors surges as its sales increase 31% YoY to 1.1 lakh units in April, driven by a 37% growth in domestic sales. However, exports decline by 14% YoY during the month.

  • Bharat Heavy Electricals soars to its all-time high of Rs 399 as its Q4FY26 net profit surges 2.6x YoY to Rs 1,290.5 crore, fueled by lower finance costs. Revenue jumps 37.3% to Rs 12,553.5 crore, supported by strong execution and deliveries. It appears in a screener of stocks with prices above short, medium and long-term moving averages.

  • India’s manufacturing PMI rises to 54.7 in April from 53.9 in March. Activity in the manufacturing sector shows a modest recovery, with slight improvements in new orders and production, though the pace of growth remains the second slowest in nearly four years. On the pricing front, firms continue to report that the war in the Middle East is putting upward pressure on inflation.

  • NCC rises as it secures four orders worth Rs 1,703.3 crore in the buildings, electrical and transportation divisions in April.

  • Zen Technologies plunges over 10% as its Q4FY26 net profit declines 68.8% YoY to Rs 31.5 crore due to higher manufacturing and employee benefits expenses. Revenue falls 42.6% to Rs 200.8 crore, caused by slower order execution. It shows up in a screener of stocks with growing costs YoY for long-term projects.

  • Vodafone Idea surges after the government cuts its adjusted gross revenue (AGR) dues by 27% to Rs 64,046 crore, easing financial pressure. The company will repay the dues over 10 years, starting with a minimum annual payment of Rs 100 crore from FY32 to FY35, followed by six equal annual instalments from FY36 to FY41.

  • Cholamandalam Investment President & CFO Arul Selvan D guides for assets under management (AUM) growth of 20–23% for FY27, driven by continued strength in the gold loan portfolio. He expects the net interest margin (NIM) to remain steady at around 8% for the full year.

  • Godrej Properties is rising sharply as its Q4FY26 net profit soars 70.1% YoY to Rs 649.6 crore, supported by inventory destocking. Revenue jumps 42% to Rs 3,806.7 crore, boosted by strong housing demand and launch pipeline. It features in a screener of stocks with the highest FII shareholdings.

  • APL Apollo Tubes' Q4FY26 net profit jumps 20.9% YoY to Rs 354.4 crore, driven by a higher share of value-added products. Revenue grows 13.7% to Rs 6,305.7 crore, helped by production scale-up and strong demand in the infrastructure and construction industries. It appears in a screener of stocks with improving cash flow from operations in the last two years.

  • Jindal Steel is rising sharply as it reports a net profit of Rs 1,044.8 crore in Q4FY26 compared to a net loss of Rs 339.4 crore in Q4FY25, led by lower inventory expenses and loss on mining assets. Revenue jumps 24.4% to Rs 16,484.3 crore, supported by higher domestic demand, capacity ramp-up and rising steel prices. It features in a screener of stocks with improving book value per share over the past two years.

  • The National Company Law Appellate Tribunal (NCLAT) upholds the approval of Adani Enterprises’ resolution plan for Jaiprakash Associates, rejecting Vedanta’s plea challenging the deal. The tribunal says it finds no reason to interfere with the NCLT’s earlier order dated March 17, thereby reinforcing Adani’s winning bid despite Vedanta’s higher overall offer.

  • Central Bank of India is falling as its Q4FY26 net profit declines 29.9% YoY to Rs 724.4 crore due to higher interest expenses and a 6.9x surge in taxes. However, revenue grows 4.6% to Rs 10,810.5 crore, driven by an improvement in the corporate banking segment. It shows up in a screener of stocks with high interest payments compared to earnings.

  • Sun TV Network plunges as early trends in the Tamil Nadu Assembly Elections show the ruling Dravida Munnetra Kazhagam (DMK) coalition trailing in third place, behind Tamilaga Vettri Kazhagam (TMK) led by Vijay, while All India Anna Dravida Munnetra Kazhagam (AIADMK) holds second position. The company is owned by the Maran family, with Kalanithi Maran being the grand-nephew of late DMK patriarch M. Karunanidhi.

  • Equitas Small Finance Bank soars to its 52-week high of Rs 74.5 as its Q4FY26 net profit surges 5.1x YoY to Rs 212.7 crore, supported by a 53.4% decline in provisions. Revenue jumps 12.3% to Rs 2,099.8 crore, driven by improvements in the retail and wholesale banking segments. The bank's asset quality improves marginally as its gross and net NPAs decline 9 bps and 26 bps, respectively.

  • Gold and silver prices decline in India, mirroring weak global cues as investors assess geopolitical developments in West Asia alongside ongoing inflation concerns and a cautious central bank outlook. The June gold futures contract on the Multi Commodity Exchange (MCX) falls around 0.15% to Rs 1.5 lakh per 10 grams, while the July silver futures contract dips around 0.08% to Rs 2.5 lakh per kilogram.

  • Maruti Suzuki India surges as its total wholesales jump 33.3% YoY to 2.4 lakh units in April, driven by a 43.5% increase in exports. Total domestic passenger vehicle sales grow 35.3%.

  • Alkem Laboratories is falling as it receives a Form 483 with seven observations from the US FDA after an inspection at its manufacturing facility in Daman.

  • Tech Mahindra's subsidiary, Tech Mahindra Consulting Group, enters an agreement to acquire an 85% stake in Alluri Technologies for CAD 28 million (~Rs 195.6 crore).

  • Hindustan Aeronautics rises more than 5% as Kota Ravi assumes charge as its 22nd Chairman and Managing Director. JM Financial maintains its 'Buy' rating on the stock with a target price of Rs 4,875. The brokerage expects strong growth in manufacturing revenue. It projects a CAGR of over 50% between FY26 and FY28, driven by deliveries of the LCA Tejas Mk1A and continued execution of key projects such as ALH, LCH, and HTT-40.

  • Tata Power's subsidiary, Tata Power Renewable Energy, plans to expand into photovoltaic (PV) ingot and wafer manufacturing with a 10 GW facility at a capex of Rs 6,500 crore.

  • Avenue Supermarts is falling sharply as its Q4FY26 net profit misses Forecaster estimates by 10.1% despite net profit climbing 19.2% YoY to Rs 656.6 crore amid higher inventory, employee benefits and finance costs. Revenue jumps 18.8% to Rs 17,702 crore, fueled by new store additions and higher consumer buying in March due to the Middle-East war. It shows up in a screener of stocks with declining return on equity (RoE) over the past two years.

  • Aster DM Healthcare is rising as its Q4FY26 net profit surges 77.4% YoY to Rs 140.2 crore, driven by a lower base in Q4FY25 due to an exceptional loss. Revenue increases 18.2% to Rs 1,182.4 crore, driven by higher sales in the hospitals & clinics segment during the quarter. The company appears in a screener of stocks with a PEG ratio lower than the Industry average.

  • Mazagon Dock Shipbuilders is falling as its Q4FY26 net profit misses Forecaster estimates by 11.4% despite surging 108.8% YoY to Rs 679.2 crore due to higher raw material costs. Revenue jumps 18.7% to Rs 4,133.8 crore, supported by strong execution and deliveries of naval contracts. It features in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

  • Nifty 50 was trading at 24,177.05 (179.5, 0.8%), BSE Sensex was trading at 77,257.27 (343.8, 0.5%), while the broader Nifty 500 was trading at 22,846.40 (162.9, 0.7%).

  • Market breadth is ticking up strongly. Of the 2,342 stocks traded today, 1,690 were on the uptick, and 553 were down.

Riding High:

Largecap and midcap gainers today include Bharat Heavy Electricals Ltd. (377.05, 7.0%), Adani Green Energy Ltd. (1,290.70, 5.2%) and Adani Ports & Special Economic Zone Ltd. (1,742.60, 5.2%).

Downers:

Largecap and midcap losers today include Avenue Supermarts Ltd. (4,376.50, -4.6%), Mazagon Dock Shipbuilders Ltd. (2,611.60, -4.5%) and Coforge Ltd. (1,151.60, -3.7%).

Movers and Shakers

32 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Cemindia Projects Ltd. (956.45, 17.3%), Dr. Lal Pathlabs Ltd. (1,573.40, 15.1%) and R R Kabel Ltd. (1,775.20, 13%).

Top high volume losers on BSE were Zen Technologies Ltd. (1,527.80, -8.6%), Sona BLW Precision Forgings Ltd. (575.45, -5.2%) and Sun TV Network Ltd. (575.85, -4.9%).

Cholamandalam Financial Holdings Ltd. (1,670, 7.3%) was trading at 12.7 times of weekly average. Aster DM Healthcare Ltd. (744.85, 6.3%) and Neuland Laboratories Ltd. (16,099, 7.3%) were trading with volumes 11.9 and 8.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

30 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,742.60, 5.2%), Adani Power Ltd. (227.30, 2.5%) and Bajaj Auto Ltd. (10,132, 1.4%).

Stocks making new 52 weeks lows included - Zensar Technologies Ltd. (509.95, -0.8%) and KFIN Technologies Ltd. (863.95, -3.5%).

25 stocks climbed above their 200 day SMA including Cemindia Projects Ltd. (956.45, 17.3%) and Dr. Lal Pathlabs Ltd. (1,573.40, 15.1%). 12 stocks slipped below their 200 SMA including Sun TV Network Ltd. (575.85, -4.9%) and Mazagon Dock Shipbuilders Ltd. (2,611.60, -4.5%).

 
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