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  4. NIFTY hits fresh all-time high of 22,794, Bajaj Twins leading the gains

NIFTY hits fresh all-time high of 22,794, Bajaj Twins leading the gains

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Upstox

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2 min read • Updated: May 3, 2024, 9:55 AM

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Summary

On Friday benchmark indices started the trading session in the green, with NIFTY 50 (+0.55%) and BSE SENSEX (+0.59%) trading higher in the early morning trade, while NIFTY Small cap 100 (+0.5%) made a new all-time high of 17,135.15 level.

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NIFTY 50 creates new lifetime high of 22,794

Benchmark Indices - NSE NIFTY 50 and the 30-share BSE SENSEX started the trading session on Friday on a buoyant note. The SENSEX gained by +0.59% trading above the important psychological 75,000 mark, while the NIFTY rose by +0.54%, hitting a fresh all-time high of 22,294 and it is within striking distance of the 22,800 mark. India VIX, a gauge of volatility, has slightly surged by 2.44% indicating a marginal increase in volatility.

US Markets - On Thursday, US stocks surged led by technology stocks ahead of the key jobs report. Apple announced a buyback plan of USD 110 billion, the highest-ever in US history.

Top Gainers and Losers - Within the Nifty 50 space, Bajaj Finance (+6.4%), Bajaj Finserv (+5.56%) and Shriram Finance (+2.85%) are among the top gainers, while Adani Enterprises (-0.95%), Tech Mahindra (-0.53%) and L&T (-0.44%) are among the top losers.

Broader Indices - In the broader markets Nifty Midcap 100 showed gains of 0.4% to trade around the 51,300 level. Nifty Smallcap 100 traded higher by 0.5% and traded at its new all-time high of 17,135.15 level. Market breadth remains positive as 1,485 stocks advance, while 440 stocks decline.

Sectoral Performance - Nifty Financial Services, Nifty Media and Nifty Energy were among the top gainers. Nifty IT was the only major sector which was underperforming.

Commodities - Oil prices in early Friday trading saw a slight increase due to expectations of OPEC+ continuing output cuts. However, both crude benchmarks were on track for weekly losses due to uncertainty in the US economy and limited disruptions in crude supply resulting from the Israel-Hamas conflict.

Stocks in F&O Ban - Stocks that are banned for trading in the F&O segment on May 03, 2024, are ABFRL, BIOCON and VODAFONE IDEA.