Nifty Surges Above 24,150; Realty Shares Gain Momentum
Headline equity benchmarks witnessed substantial gains in the morning trade, as investors tracked state election results across Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal. Movements in crude oil prices and developments in the West Asia conflict also influenced market sentiment. Elevated Brent crude prices, driven by tensions around the Strait of Hormuz, remain a key concern for inflation and the rupee. Meanwhile, corporate earnings have presented a mixed outlook, with some companies reporting strong results and others lagging behind. The Nifty climbed above the 24,150 mark, reflecting the positive market mood.
At 10:25 IST, the barometer index, the S&P BSE Sensex, jumped 505.87 points or 0.66% to 77,419.37. The Nifty 50 index rallied 154.10 points or 0.64% to 24,152.20. In the broader market, the BSE 150 MidCap Index surged 0.86% and the BSE 250 SmallCap Index soared 0.94%.
The market breadth was weak, with 2,620 shares rising and 1,275 shares falling on the BSE. A total of 245 shares remained unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.57% to 18.17.
Several companies are set to declare their results later today, including Bharat Heavy Electricals (up 3.32%), Ambuja Cements (down 0.27%), Aditya Birla Capital (up 2.26%), Jindal Stainless (up 1.88%), Godrej Properties (up 3.11%), KEI Industries (up 1.58%), Petronet LNG (up 0.69%), Ather Energy (down 0.54%), Exide Industries (up 2.55%), Manappuram Finance (up 4.01%), Tata Technologies (up 0.44%), Wockhardt (up 2.20%), Tata Chemicals (up 1.01%), Aarti Industries (up 1.27%), Computer Age Management Services (up 0.67%), Sobha (up 2.10%), Jaiprakash Power Ventures (down 0.15%), Jyothy Labs (up 2.64%), IIFL Capital Services (down 0.19%), SG MART (up 1.58%), CSB Bank (up 1.10%), Nacl Industries (up 1.08%), Quess Corp (up 6.57%), Antelopus Selan Energy (down 0.43%), Indokem (up 5%), Oriental Hotels (up 2.44%), Krishival Foods (down 0.29%), South West Pinnacle Exploration (up 4.10%), Shiva Cement (up 1.28%), De Nora India (down 0.01%), Nath Bio-Genes (down 0.10%), Shera Energy (up 6.38%), Atvo Enterprises (down 0.08%), Kothari Sugars and Chemicals (up 1.98%), Infinity Infoway (up 7.54%), Desco Infratech (up 2.40%), SNL Bearings (up 2.46%), Key Corporation (up 2.35%), Nalin Lease Finance (down 2.57%), Southern Magnesium and Chemicals (down 3.45%), Thakral Services (India) (down 4.98%), Accord Synergy (down 4.96%), Suryo Food and Industries (up 1.90%), Sungold Media and Entertainment (down 4.98%), and Vivanza Biosciences (down 2.90%).
Vote counting for assembly elections in Assam, Tamil Nadu, West Bengal, Kerala, and Puducherry began at 8:00 AM IST on 4 May 2026. Early trends at around 10:00 AM indicate the BJP leading in approximately 24 seats in West Bengal against the TMC's 6, and ahead in 56 seats in Assam versus the Congress's 12. In Tamil Nadu, the DMK holds leads in 15 seats, including Kolathur, with the AIADMK at 5 and TVK at 2. In Kerala, the UDF is ahead in 5 seats, and in Puducherry, the AINRC is leading in 1. These trends derive from initial postal ballots and are subject to change; full results will be available on the ECI portal.
The Nifty Realty index surged 1.88% to 808.50, recovering from a 1.50% decline in the previous trading session. Leading the rally were Anant Raj (up 4.52%), Godrej Properties (up 2.99%), Sobha (up 2.88%), DLF (up 2.11%), Prestige Estates Projects (up 2.02%), Lodha Developers (up 1.84%), Aditya Birla Real Estate (up 1.33%), Phoenix Mills (up 1.27%), Oberoi Realty (up 1.01%), and Brigade Enterprises (up 0.82%).
Several stocks were in the spotlight due to their recent performance. Avenue Supermarts (DMart) slipped 3.85% after reporting a 19.18% increase in consolidated net profit to Rs 656.59 crore in Q4 FY26, compared to Rs 550.90 crore in Q4 FY25. Bajaj Auto rallied 3.27% after reporting a 40% increase in total auto sales to 5,13,792 units in April 2026, compared to 3,65,810 units sold in April 2025. Escorts Kubota added 1.68% after reporting a 24.4% year-on-year increase in tractor sales for April 2026, with total volumes rising to 10,857 units compared to 8,729 units in April 2025. Adani Ports and Special Economic Zone gained 3.37% after announcing that it handled 43.1 million metric tons (MMT) of total cargo in April 2026, which is higher by 15% on a year-on-year (YoY) basis. Steel Strips Wheels (SSWL) rose 1.83% after reporting a net turnover of Rs 500.85 crore for April 2026, marking an 18.09% year-on-year (YoY) increase compared to Rs 424.11 crore recorded in April 2025. SML Mahindra shed 0.59% after selling 1,741 units in April 2026, registering a growth of 15% from 1,512 units sold in the same period last year.
