Indian Market Close
The Nifty 50 closed higher by 121.75 points or 0.51% at 24,119.30, while the Sensex slipped 250 points in a volatile session on May 05, 2026. The divergence came as markets grappled with elevated crude oil prices following reports of Iran strikes on UAE facilities, which pushed Brent crude past $114 per barrel.
The Nifty 50 traded in a wide intraday range of 24,004.75 to 24,290.20 before settling near the upper end. The Sensex tumbled 450 points from the day's high, dragged by banking and metal stocks, even as energy and auto counters found support.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,119.30 | +121.75 | +0.51% |
| Sensex | 76,733.49 | -535.91 | -0.69% |
Sector and Stock Movement
Energy, auto, and financial stocks supported the Nifty 50's advance, while broader indices underperformed. The Nifty 500 fell 0.43% to 22,732.70, shedding 98.05 points, while the Nifty Midcap 50 dropped 0.26% to 16,940.85.
Among major stocks, Reliance Industries edged up 0.09% to ₹1,464.40 and ITC added 0.13% to ₹311.50. ICICI Bank declined 1.46% to ₹1,252.30, while Eternal slipped 1.42% to ₹248.33. Ambuja Cements, DLF, Tata Motors, and JIO Financial Services were among the flat to negative performers as trading wound down.
The surge in crude oil prices following geopolitical tensions in the Middle East weighed on sentiment, particularly in interest-rate sensitive sectors. Oil hitting $114 after the Iran strikes on UAE emerged as a key driver behind the market's late-session weakness.
GIFT Nifty Session
GIFT Nifty advanced 34 points or 0.14% to close at 24,101.50 in Session I, marginally underperforming the cash market's 0.51% gain. The contract opened at 24,064.50 and traded in a broad range of 23,910.00 to 24,133.50, reflecting high volatility as overseas participants reacted to the oil price spike and India's mixed close.
The session saw a sharp mid-day selloff between 12:45 and 14:30 IST, with GIFT Nifty tumbling from 24,022 to a low of 23,910 before staging a recovery rally into the Indian cash market close. The contract surged past 24,120 in post-cash-close trade, tracking strength in energy counters, before settling around 24,101.
| Metric | Level |
|---|---|
| LTP | 24,101.50 |
| Open | 24,064.50 |
| High | 24,133.50 |
| Low | 23,910.00 |
| Change | +34.00 (+0.14%) |
Session II Outlook
GIFT Nifty heads into Session II at 24,101.50, with global markets likely to focus on oil price movements and any escalation in Middle East tensions. The wide 223-point intraday range signals heightened volatility as traders price in geopolitical risk premiums ahead of the U.S. session open.