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Market Commentary

Indian benchmark indices witnessed high volatile on the Nifty weekly expiry session on 5th May. It ended the session on a negative note, weighed down by weak global cues, escalating Middle East concerns, and continued depreciation in the Indian rupee, which kept overall investor sentiment subdued .

* At close, the Sensex declined by 251.61 points or 0.33 percent to settle at 77,017.79, while the Nifty fell by 86 .50 points or 0.36 percent to close at 24 ,032 .80 .

* On the sectoral front, selective buying was seen in Nifty FMCG, Auto, and Pharma stocks, which managed to hold a marginally positive bias . On the flip side, selling pressure was evident in Nifty Realty, private and PSU banking stocks, Consumer Durables, and Oil & Gas, which emerged as key laggards .

* The broader market showed relative resilience, witnessing mild buying interest . The Nifty Midcap index advanced by 0.17 percent, while the Nifty Small cap index gained 0.28 percent, outperforming the benchmark indices .

* Gift Nifty signals a gap up opening for the Indian market . Nifty spot in today's session is likely to trade in the range of 23 ,900 - 24 ,350 .

Global Updates

* President Trump expressed optimism regarding ongoing Iran negotiations and temporarily halted escort operations in the Strait of Hormuz . The apparent stability in the ceasefire reduced concerns around energy supply disruptions and supported broader market sentiment .

* Recent earnings across technology and broader sectors continued to support the rally in U.S . equities . Market focus this week remains on results from major companies including Disney and Uber, while NVIDIA’s Q1 earnings later this month remain a key event for global markets

* Economic indicators continue to reflect resilience in the U.S . economy . Recent GDP data surprised positively, while jobless claims remained near historic lows at 189K, reinforcing confidence in underlying economic strength .

* South Korea’s Kospi hit another record on Wednesday morning trade as Asia - Pacific markets opened higher, tracking Wall Street gains overnight after oil prices dropped and strong arnings lifted investor sentiment

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