Sensex, Nifty 50 | Stock Market Highlights: Sensex down 252 points, Nifty 50 ends below 24,100; realty, banks drag

The frontline indices, BSE Sensex and Nifty 50, ended in the red on Tuesday, May 5, weighed down by profit booking in select banking and financial heavyweights.

The 30-share Sensex fell 252 points, or 0.33%, to close at 77,017.79, while the Nifty 50 declined 87 points, or 0.36%, to settle at 24,032.80.

In contrast, broader markets outperformed the benchmarks, with the BSE Midcap index rising 0.15% and the BSE Smallcap index gaining 0.20%.

Supported by strength in mid- and small-cap stocks, the overall market capitalisation of BSE-listed companies remained largely stable at around ₹467 lakh crore.

The broader markets continued to outperform, with both Nifty Midcap 100 and Nifty Smallcap 100 closing in the green. Market breadth remained stable, as the Advance/Decline ratio stayed flat, with 240 stocks from the Nifty 500 universe ending the session on a positive note.

Nifty Auto and Nifty FMCG outperformed, whereas Nifty Realty and Nifty Consumer Durable indices ended on a weaker note.

M&M and UltraTech Cement emerged as the top gainers within the Nifty index, while Jio Financial and ICICI Bank were among the top laggards.

The Indian rupee closed weaker at 95.28 against the US dollar, compared with Monday’s close of 95.09.

Rupak De, Senior Technical Analyst at LKP Securities, said, - "Indian equities continued to trade weak as crude prices remained firm. On the daily chart, the Nifty has sustained below the 50EMA for eight consecutive sessions, keeping the bearish trend intact. The RSI is in a bearish crossover, indicating weak momentum.

However, a closer and more granular view of the Nifty chart suggests the possibility of a meaningful recovery from current levels. On the lower timeframe, the index has started forming higher lows, which might be an early sign of a potential reversal.

In the short term, the index may move higher with a potential upside towards 24,285–24,350. On the downside, support is placed at 23,880, below which weakness could intensify."

Vatsal Bhuva, Technical Analyst at LKP Securities, said - "Bank Nifty formed a spinning top candlestick on the daily chart, signalling indecision near current levels. On the hourly chart, a positive RSI divergence is emerging, suggesting a potential short-term pullback or relief bounce.

However, the broader structure remains weak, and a sell-on-rise approach continues to be favourable as long as the index trades below 56,000. On the levels front, the 54,150–54,250 zone, aligned with the 100 WMA, is likely to act as a key support area, while 55,200 is expected to act as immediate resistance."

Vinod Nair, Head of Research, Geojit Investments, said, - "Domestic equities witnessed a volatile session, closing lower as post-election optimism faded and sentiment re-aligned with global weakness amid rising geopolitical tensions. Elevated crude prices continued to pressure the rupee, which slipped to record lows. Despite these headwinds, the ongoing earnings season, with results slightly ahead of expectations, provided some support and triggered selective bottom-fishing.

Sectoral trends were mixed, with buying seen in FMCG, IT, pharma, autos, and metals, while realty and financials remained under pressure. Going ahead, market direction is likely to stay sensitive to geopolitical developments and incremental cues from upcoming earnings."

At 15:30 IST, the Nifty 50 ended 86.50 points, or 0.36%, lower at 24,032. 80, while the Sensex closed 251.61 points or 0.33% lower at 77,017.79.

Coal India has launched a solar power facility in Gujarat with a capacity of 100 MW, representing an important advancement in its transition to renewable energy and efforts to diversify beyond its primary coal operations.

According to UBS Research, the current account deficit is expected to widen from 1.1% of GDP in FY26 to 2.5% in FY27, reflecting elevated oil prices and weaker exports to the GCC, which accounts for roughly 15% of India’s goods exports. While there is also a risk to remittance inflows—around 36% of which come from the GCC—any impact is likely to be gradual.

Despite the rupee’s real effective exchange rate falling to a 10-year low, UBS expects continued pressure and has revised its FY27-end USD/INR forecast to 96 from 94 earlier. It added that the Reserve Bank of India may need to revisit elements of its 2013 crisis toolkit to stabilise the currency.

The ongoing US-Iran war, along with the resulting energy shock, supply chain disruptions, and elevated inflation, could weigh on India’s economic growth in FY27, according to UBS.

The global brokerage has revised its India GDP growth forecast downward to 6.2% for FY27, from its earlier estimate of 6.7%, factoring in higher crude oil prices, supply-side disruptions, and expectations of a below-normal monsoon.

Lloyds Engineering Works Q4 Results (YoY)

> Net profit jumps to ₹46.83 crore from ₹18.26 crore

> Revenue rises to ₹495.02 crore from ₹231.96 crore

> EBITDA up 69% to ₹69.95 crore from ₹41.43 crore

> Margin falls to 14.1% from 17.9%

> Order book on 1 April 2026 rises to ₹2,351.90 crore from ₹1,315.38 crore

> Declares final dividend of ₹0.25 paise per equity share of face value of Re 1 each for FY26

The Securities and Exchange Board of India (Sebi) has proposed to allow online bond platform providers (OBPPs) to expand operation in GIFT International Financial Services Centre (IFSC), expanding their access to global debt markets. In a consultation paper issued on Tuesday, the market regulator said it had received a request from the International Financial Services Centre Authority (IFSCA) to allow OBPPs to offer overseas listed debt securities through a regulated framework provided by the GIFT City regulator.

As Kiran Mazumdar-Shaw, founder and chairperson of Biocon, names her niece, Claire Mazumdar, as her successor, she clarifies that the transition will occur at an appropriate time. She adds that she has no immediate plans to retire. Read who is Claire Mazumdar here

Godrej Properties expects pre-sales and cash collections to grow by 14%/20% in FY27, on a large base. A jump in construction spends during FY26 and high quality of pre-sales in base are expected to drive a 20% reported ROE and FCF turnaround by FY28, Jefferies said.

Jefferies raised FY27 pre-sales estimates by 3% to ₹38,400 crore. FY27/28 earnings trimmed by 13%/4% on project delivery changes and somewhat higher costs. The promoters have bought 5% stake through open market in 2HFY26 reflecting optimism on the long term business outlook.

Godrej Properties tock is trading at 11x PE on reportable PAT/ embedded PAT in FY28 P&L/FY26 pre-sales ests. which are at near -1sd levels, Jefferies said.

It maintained a ‘Buy’ call and raised Godrej Properties share price target to ₹2,475 from ₹2,420 earlier.

Marico Q4 Results (YoY)

> Net profit rises 13.3% to ₹391 crore from ₹345 crore

> Revenue grows 22% to ₹3,333 crore from ₹2,730 crore

> EBITDA rises 13.8% to ₹521 crore from ₹458 crore

> Margin narrows to 15.6% from 16.8%

> Domestic volume growth at 9

> Board recommends final dividend of ₹4 per equity share for FY26

> Dividend record date is 30 July 2026, Thursday, while payment date is 5 September 2026, Saturday

Voltamp Transformers Q4 Results (YoY)

> Net profit falls 50.4% to ₹48 crore from ₹97 crore

> Revenue drops 1.2% to ₹617.2 crore from ₹624.8 crore

> EBITDA falls 30% to ₹81.4 crore from ₹116.3 crore

> Margin narrows to 13.2% from 18.6%

Reymond Q4 Results (QoQ):

> Net profit jumps 71.4% to ₹12 crore from ₹7 crore

> Revenue rises 8.2% to ₹603 crore from ₹557.2 crore

> EBITDA grows 26.2% to ₹75.7 crore from ₹60 crore

> EBITDA margin improves to 12.6% from 10.6%

Raymond share price was trading 2.39% lower at ₹454.25 apiece on the BSE.

In the near term, the market will remain hostage to volatile developments arising from the West Asian crisis, while higher commodity prices will be a key monitorable, as a prolonged elevated level could affect India’s macro parameters and engender a tight monetary policy stance, said Motilal Oswal. It continues to prefer Large Caps and Mid Caps in its model portfolio.

Top Nifty-50 Ideas: Bharti Airtel, SBI, ICICI Bank, M&M, Titan, Bharat Electronics, Eternal, Tata Steel, Infosys, and Interglobe Aviation.

Top Non-Nifty-50 Ideas: TVS Motors, ICICI PRU AMC, Groww, Indian Hotels, AU Small Finance, Dixon Tech., Lenskart, Waaree Energies, Coforge, Radico Khaitan, and Delhivery.