Sensex, Nifty Eye Positive Opening as May 4 Hint Signals Gains
Sensex, Nifty Eye Positive Opening as May 4 Hint Signals Gains
Gift Nifty points to a positive start as markets gear up for May 4, with Sensex and Nifty edging higher on the week amid global volatility.
Indian equity benchmarks wrapped up the holiday-shortened week on a cautious note, with Sensex and Nifty edging higher by about 0.32% and 0.41% respectively. The Sensex closed at 76,913.50 and the Nifty at 23,997.55 after the previous session saw both indices slip about 0.7%. Gift Nifty futures on the NSE International Exchange rose 82.5 points, or 0.34%, to 24,229.5, signaling a positive opening on Monday, May 4.
On the domestic front, investors will be watching key state election outcomes and the start of the Q4 FY26 earnings season. Analysts note persistent FII outflows, mixed earnings trends, and currency weakness as headwinds, even as some pockets of midcap and smallcap stocks have shown resilience. Hariprasad K, a SEBI-registered research analyst and founder of Livelong Wealth, points to the importance of the state election results, while Ajit Mishra of Religare Broking stresses ongoing domestic challenges alongside the upcoming earnings wave.
Global factors injected volatility, with disruptions around the Strait of Hormuz continuing to weigh on markets, Brent crude rising, and regional shifts such as the UAE stepping back from OPEC adding to the volatility. Traders will be closely watching how these macro dynamics interact with domestic policy cues as the week unfolds.
Looking ahead, analysts expect a range-bound session with attention on earnings results and domestic catalysts that could set the tone for the week. The market may ride a mix of domestic policy cues and global price movements as investors seek clarity on the near-term trajectory.
