IGI Logo

• The equity benchmark Sensex rose by over 300 points, while the Nifty closed above the 24,800 mark as the market recovered strongly in the final hour, driven by short covering ahead of the May series F&O expiry today.

• Additionally, global markets rallied following a U.S. federal court’s decision to block President Donald Trump’s plan to impose heavy tariffs on imports from nearly all countries. US Index Futures, along with Asian and European markets, gained between 1-2% after the court’s ruling against the reciprocal tariffs.

• Sensex climbed 320 points, or 0.40%, closing at 81,633, and the Nifty advanced by 81 points, or 0.30%, to settle at 24,833. Key sectors such as IT, pharma, defense, realty, and metals led the gains, rising up to 1%.

• The Nifty surged 735 points, or 3%, during the May series F&O expiry. Defense stocks continued their upward trend, supported by strong government and export orders. Stocks like GRSE, BDL, Mazagon Dock, Midhani, and Cochin Shipyard rose between 1-6%.

• Metal stocks saw renewed buying interest on hopes of improving global demand and positive quarterly results from SAIL. Jindal Stainless, Jindal Steel, NMDC, SAIL, and Tata Steel gained between 1-5%.

Technical Outlook:

• Nifty Index opened on a positive note and witnessed swings within a defined range throughout the session. The index gradually inched lower until the final hour, reflecting a lack of momentum for most of the day. However, in the last hour, bulls made a strong comeback as sharp buying emerged, pushing the index over 150 points higher to reclaim the 24800 zone.

• On the daily chart, Nifty formed a small-bodied bullish candle with a long lower shadow, indicating that buyers stepped in at lower levels and providing support at lower levels. Now it has to hold above 24800 zones for an up move towards 25000 then 25200 levels while on the downside support is seen at 24750 then 24600 zones

Derivative Outlook:

• Nifty future closed positive with gains of 0.28% at 24831 levels. Positive setup seen in Cummins India, Deepak Nitrite, Prestige Estate, RBL Bank, Jindal Stainless, OIL India, DLF, Hindustan Zinc, PB Fintech, Paytm, Granules, BSE and IndusInd Bank India while weakness in Apollo tyres, Escorts, L&T Finance, Max Healthcare, Muthoot Finance, GAIL, Indian Bank, Godrej Consumer Products, ITC, Dixon, SJVN and Bajaj FinServ.

• On option front, Maximum Call OI is at 25000 then 25500 strike while Maximum Put OI is at 24800 then 24500 strike. Call writing is seen at 24800 then 25000 strike while Put writing is seen at 24800 then 24700 strike. Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24600 to 25000 levels.

• Castrol - BP Plc's Castrol lubricant business is drawing significant interest from a range of potential buyers, including Reliance Industries, Apollo Global Management, Lone Star Funds, Brookfield Asset Management, and Stonepeak Partners. Saudi Aramco is also considering a bid for the unit, which could fetch between $8 billion and $10 billion. BP is holding 51% stake on Castrol.

• April Mobile subscription data - Bharti Airtel net adds 1.71 lakh mobile subscribers versus 12.5 lakh net additions In March. Reliance Jio net adds 26.4 lakh Mobile Subscribers versus 21.7 lakh net additions In March and Vodafone Idea net losses 6.47 lakh Mobile Subscribers versus 5.4 lakh users lost in March

• Prestige Estates - Company has inaugurated three projects in Mumbai that collectively span 2.8 million square feet.

• Samvardhna Motherson - Company announce 1 bonus share for 2 share held.

• Texmaco Rail - Company gets order worth Rs141cr from rail ministry for eight rakes wagons.

• Waaree Energy - Company received an order from $176 million for the supply of 586 MW solar modules. Order from a renowned customer who is a developer and owneroperator of utility scale solar and energy storage projects across the United States.

• RBI Annual Report: At GDP Growth Of 6.5%, India To Remain Fastest Growing Major Economy In FY26 - The Indian economy is poised to sustain its position as the fastest growing major economy during 2025-26, supported by pickup in private consumption, healthy balance sheets of banks and corporates, easing financial conditions and the government’s continued thrust on capital expenditure, the RBI said in its annual report.

• Wockhardt Q4 loss Rs45cr vs loss 177cr (YoY), Ebitda Rs64cr vs loss Rs103 (YoY) and Income Rs743cr (up 6% YoY)

Global Market Update

• European Market - European stocks were mostly higher after a court stuck down Trump's sweeping tariff agenda. The Court of International Trade on Wednesday ruled that Trump wrongfully invoked an emergency law to impose tariffs on nearly every nation. The White House has lodged an appeal against the decision. Both Germany and France Index rose 0.5% each.

• Asian Market - Asian equities climbed the most in two weeks, as a US court order against President Donald Trump’s tariffs lifted sentiment. Japan, Hong Kong, South Korea and Australia Index gained up to 1.5%.

• US Data - Q1 GDP Data and Initial Jobless Claim. • Commodity - Oil advanced alongside equity markets after a US trade court blocked many of President Donald Trump’s global tariffs, deeming them illegal. Brent climbed 2% toward $66 a barrel.

For More Research Reports : Click Here 

For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412