Meanwhile, the Nifty ended above the 24,100 level. Realty, metal and healthcares shares advancing the most, while IT, media and PSU bank declining the most.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 355.90 points or 0.46% to 77,269.40. The Nifty 50 index rallied 121.75 points or 0.51% to 24,119.30.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 0.62% and the BSE 250 SmallCap Index surged 1.07%.

The market breadth was strong. On the BSE, 2,609 shares rose and 1,733 shares fell. A total of 221 shares were unchanged.

In the foreign exchange market, the rupee weakened against the US dollar. The partially convertible rupee was trading at 95.2100, compared with its previous close of 94.8400. During the session, the currency touched an all-time low of 95.2375.

2026 Assembly Polls: Vote Counts Underway in 5 States

Vote counting for assembly elections in Assam, Tamil Nadu, West Bengal, Kerala, and Puducherry progresses, with BJP surging past majority thresholds in West Bengal (leads ~194 seats) and Assam (nearing 100), according to live coverage. In Tamil Nadu, actor Vijay's TVK emerges strongly hitting century-mark projections while MK Stalin's DMK takes a backseat; Kerala sees Congress-led UDF crossing halfway with 7 seats, and Puducherry favors NDA. These are dynamic trends from EVM rounds, subject to postal ballot finalization'full Form-20 outcomes available on ECI's portal.

Economy:

Despite rising from 53.9 in March to 54.7 in April, the seasonally adjusted HSBC India Manufacturing PMI'a gauge of overall business conditions based on new orders, output, employment, supplier delivery times and inventory levels'signalled the second-slowest improvement in operating conditions in nearly four years.

April data pointed to modest recoveries in new orders and production, although growth remained the second-weakest since 2022. Exports stood out as a bright spot, with manufacturers reporting the fastest expansion since September last year.

Firms also noted that the ongoing conflict in West Asia continued to exert upward pressure on inflation, with input costs and output prices rising at the fastest pace in 44 months and six months, respectively.

IPO Update:

The initial public offer (IPO) of Onemi Technology Solutions received bids for 2,34,10,743 shares as against 3,97,62,250 shares on offer, according to stock exchange data at 15:30 IST on Monday (04 May 2026). The issue was subscribed 0.59 times.

The issue opened for bidding on 30 April 2026 and will now close on 05 May 2026. The price band of the IPO is fixed between Rs 162 and 171 per share.

Buzzing Index:

The Nifty Realty index surged 2.41% to 812.70. The index declined 1.50% in the past trading session.

Anant Raj (up 4.82%), Godrej Properties (up 3.52%), DLF (up 3.44%), Lodha Developers (up 2.86%), Prestige Estates Projects (up 2.83%), Oberoi Realty (up 1.44%), Phoenix Mills (up 1.27%), Aditya Birla Real Estate (up 0.56%), Sobha (up 0.49%) and Brigade Enterprises (up 0.19%) advanced.

Auto sales

Hero MotoCorp shed 0.65%. The company reported dispatches of 566,086 units in April 2026, registering an 85.36% year-on-year (YoY) increase compared with 305,406 units in April 2025.

Tata Motors added 0.77%. The company reported a 28% year-on-year (YoY) increase in total commercial vehicle (CV) sales to 34,833 units in April 2026, compared with 27,221 units in April 2025.

Eicher Motors rose 3.27% after the company's unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 6.9% year-on-year rise in commercial vehicle (CV) sales to 7,318 units in April 2026.

Meanwhile Eicher Motors has reported 31% jump in total motorcycle sales to 1,13,164 units in April 2026 from 86,559 units in April 2025.

Mahindra & Mahindra (M&M) rose 0.45%. The company's overall auto sales for the month of April 2026 stood at 94,627 vehicles, a growth of 14% YoY, including exports.

Maruti Suzuki India advanced 2.08% after the carmaker reported a 33.29% jump in total sales volume to 2,39,646 units in April 2026 compared with 1,79,791 units in April 2025. On the production front, the company's total output jumped 16.45% to 209,565 units in April 2026 compared with 1,79,956 units produced in April 2025.

Ashok Leyland shed 0.93%. The company reported a 9% jump in total sales (domestic & exports) to 14,646 units in April 2026, compared with 13,421 units sold in April 2025.

TVS Motor Company added 0.12%. The company reported a 7% year-on-year increase in total sales for April 2026, with overall volumes rising to 473,970 units compared to 443,716 units in April 2025. Total two-wheeler sales grew 6% to 455,333 units during the month, up from 430,150 units in the same period last year.

Bajaj Auto gained 1.22% after the company reported a 40% increase in total auto sales to 5,13,792 units in April 2026, compared with 3,65,810 units sold in April 2025.

VST Tillers Tractors shed 0.88%. The company reported a strong 50.12% year-on-year growth in total sales for April 2026, with volumes rising to 3,483 units compared to 2,320 units in April 2025.

Atul Auto added 1.82% after the company reported a 73.97% rise in total sales to 3,001 units in April 2026, compared with 1,725 units sold in April 2025.

Escorts Kubota slipped 0.91%. The company reported 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.

Steel Strips Wheels (SSWL) added 0.73%. The company reported 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 0.30%. The company said that it had sold 1,741 units in April 2026, registering a growth of 15% from 1,512 units sold in the same period last year.

Stocks in Spotlight:

Kotak Mahindra Bank slipped 2.78%. The company reported 13.37% jump in standalone net profit to Rs 4,026.55 crore on 3.46% increase in total income to Rs 17,291.10 crore in Q4 FY26 over Q4 FY25.

Avenue Supermarts (DMart) dropped 4.56%. The company reported 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. Revenue from operations rose 18.90% to Rs 17,683.86 crore in Q4 FY26 as against Rs 14,871.86 crore in Q4 FY25.

Godrej Properties rallied 3.68% after its consolidated net profit jumped 70.13% to Rs 649.88 crore on a 41.98% increase in total income to Rs 3,806.65 crore in Q4 FY26 over Q4 FY25.

Ather Energy added 0.11%. The company has reported a net loss of Rs 79.60 crore in Q4 FY26, which is significantly lower as compared with the net loss of Rs 197.80 crore recorded in Q4 FY25.

NMDC declined 1.49%. The company reported a 16% year-on-year (YoY) increase in iron ore production to 4.64 MT in April 2026, compared with 4.00 MT in April 2025.

Bharat Heavy Electricals surged 7.41% after the company reported a sharp jump in quarterly earnings. On a consolidated basis, the company posted a net profit of Rs 1,290.47 crore in Q4 FY26, up 155.82% YoY and 230.50% QoQ. Revenue from operations rose 36.87% YoY to Rs 12,310.37 crore in Q4 FY26, while growing 45.29% QoQ, driven by strong performance in both power and industry segments.

APL Apollo Tubes slipped 1.59%. The company has reported 20.9% rise in consolidated net profit to Rs 354.35 crore on a 14.1% rise in net sales to Rs 6,075.98 crore in Q4 FY26 as compared with Q4 FY25.

Indus Towers slipped 2.63%. The company reported a marginal increase in its consolidated net profit for the fourth quarter of FY26, with profit after tax (PAT) rising to Rs 1,792.9 crore from Rs 1,779.1 crore in the corresponding quarter last year. The company's revenue from operations grew 4.83% year-on-year to Rs 8,101 crore for the quarter ended 31 March 2026.

Epigral climbed 10.21% after the company reported a sharp sequential improvement in performance for the March quarter. The company's standalone net profit soared 109.27% to Rs 81.93 crore in Q4 FY26, compared with Rs 39.15 crore in Q3 FY26. Revenue from operations jumped 23.29% QoQ to Rs 736.16 crore in Q4 FY26, on account of volume growth and improved realization.

Equitas Small Finance Bank surged 6.09% after the lender reported a sharp jump in quarterly earnings, supported by improving asset quality. The bank posted a net profit of Rs 213 crore in Q4 FY26, soaring 406% YoY and 136% QoQ. Net Interest Income (NII) came in at Rs 981 crore, rising 18% YoY and 15% QoQ.

Adani Ports and Special Economic Zone gained 5.58% after the company announced that it has 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.

Central Depository Services (India) slipped 2.52% after the company has reported 20.5% fall in consolidated net profit to Rs 79.79 crore despite a 17.1% rise in revenue from operations to Rs 262.85 crore in Q4 FY26 as compared with Q4 FY25.

Global Markets:

European markets declined, led by losses in automakers during early trade, after U.S. President Donald Trump said on Friday that he would raise tariffs on cars and trucks imported from the European Union to 25%. The European Commission said it is keeping its response options open. The renewed tariff threat comes despite a Supreme Court ruling in February that struck down large parts of Trump's tariff agenda.

Asian markets ended higher, with South Korean market hitting a record high, while Hong Kong also advanced on strength in AI-driven technology stocks. Investors remained cautious as they weighed ongoing tensions between Iran and the U.S., along with Washington's plan to reopen shipping routes in the Strait of Hormuz. Meanwhile, markets in Japan and China were closed for a public holiday.

The U.S. would attempt to 'free' stranded ships affected by the Strait of Hormuz closure since the start of the Iran war, U.S. President Trump reportedly said in his social media post on Sunday.

Dubbed Project Freedom,' the effort is set to begin on Monday, Middle East time and will focus mainly on getting civilian ships flagged in countries not affiliated with the conflict out of the contested waterway so they can 'freely and ably get on with their business.'

'U.S. military support to Project Freedom will include guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members,' the U.S. Central Command said shortly after Trump's announcement.

Last week, the S&P 500 rose to a fresh all-time intraday high on Friday, while oil prices fell as a new month of trading got underway.

The broad market index advanced 0.29% to end at 7,230.12. The Nasdaq Composite added 0.89%, reaching an all-time high and closing at 25,114.44. Both indexes posted closing records. The Dow Jones Industrial Average slipped 152.87 points, or 0.31%, to settle at 49,499.27.

Oil prices were volatile on Friday after Iran reportedly sent its response through Pakistani mediators to the latest U.S. amendments to a draft agreement to end the Middle East conflict.

President Donald Trump revealed later Friday he is displeased with a new peace offer from Iran, saying that the country 'wants to make a deal, but I'm not satisfied with it.

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