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Post Session: Quick Review
May-05-2026

Indian equity benchmarks ended in red on Tuesday, weighed down by subdued global cues. Markets made a negative start and remained subdued throughout the session, amid rising geopolitical tensions in the Middle East following Iran’s missile and drone attacks on the UAE. 

Some of the important factors in trade:

Indo-Pacific trade pact losing relevance under Trump’s aggressive strategy: Traders were cautious as think tank GTRI said that the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-member grouping including India, the US and Australia, is losing relevance under US President Donald Trump's aggressive trade strategy.

Govt’s net direct tax collection rises 5.12% in FY26: Traders took a note of the data released by the Central Board of Direct Taxes (CBDT) showed that government's net direct tax collections (including corporate and non-corporate tax) for the fiscal year 2025-26 (FY26) increased by 5.12% to over Rs 23.40 lakh crore as compared to Rs 22.26 lakh crore collected in FY25. However, this figure fell short of the revised budget target set for the fiscal year that ended March 2026.

Auto stocks were in focus: Federation of Automobile Dealers Associations (FADA) said total automobile retail sales in India grew by 12.94 per cent with a record 26,11,317 units in April as compared to 23,12,221 units in the same month last year, making a bright start to the new fiscal. 

On the global front: European markets were trading mostly in green, as euro zone investor sentiment improved unexpectedly in May, driven by investor expectations that the conflict with Iran would not escalate further. Asian markets closed mixed following weak signals from Wall Street overnight, while key regional markets including China, Japan, and South Korea remained closed.

The BSE Sensex ended at 77017.79, down by 251.61 points or 0.33% after trading in a range of 76515.03 and 77151.33. There were 10 stocks advancing against 20 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were FMCG up by 0.61%, Auto up by 0.53%, Power up by 0.50%, Capital Goods up by 0.43% and Telecom up by 0.41%, while Realty down by 1.38%, Consumer Durables down by 0.62%, Bankex down by 0.58%, Energy down by 0.42% and Oil & Gas down by 0.27% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Mahindra & Mahindra up by 3.85%, Ultratech Cement up by 1.58%, Bajaj Finserv up by 1.08%, Bajaj Finance up by 0.93% and Infosys up by 0.89%. On the flip side, ICICI Bank down by 1.54%, Tech Mahindra down by 1.28%, Eternal down by 1.15%, Axis Bank down by 1.09% and Maruti Suzuki down by 0.99% were the top losers. (Provisional) 

Meanwhile, amid ongoing efforts to expand India's global trade footprint, Union Minister of Commerce and Industry Piyush Goyal has reviewed the progress of India's Free Trade Agreements (FTAs) in a meeting held with key officers and chief negotiators. During the meeting, they discussed ways to encourage more businesses to export from India, further unlocking the country's potential to export world-class products. Also, avenues to strengthen India's position in global value chains were explored.

India has significantly expanded its network of trade agreements in recent years, reaching nine FTAs spanning 38 countries. The expansion began with the India-Mauritius agreement in 2021, followed by the India-UAE Comprehensive Economic Partnership Agreement in May 2022 and the India-Australia Economic and Trade Agreement in December 2022.

India later signed the EFTA Trade and Economic Partnership Agreement on March 10, 2024, which came into force on October 1, 2025. Further strengthening its trade ties, India signed the India-UK Comprehensive Economic and Trade Agreement in July 2025 and the India-Oman Comprehensive Economic Partnership Agreement in December 2025. The India-New Zealand FTA was announced on December 22, 2025 and signed on April 27, 2026. The India-EU FTA was announced on January 27, 2026. With the United States, India has also delivered a framework for an interim agreement on February 7, 2026, further expanding its global engagement.

The CNX Nifty ended at 24032.80, down by 86.50 points or 0.36% after trading in a range of 23882.05 and 24081.70. There were 17 stocks advancing against 33 stocks declining on the index. (Provisional)

The top gainers on Nifty were Mahindra & Mahindra up by 3.36%, Ultratech Cement up by 1.74%, Bajaj Finserv up by 1.22%, Hindalco up by 1.15% and Nestle up by 1.09%. On the flip side, JIO Financial Service down by 1.70%, Coal India down by 1.60%, ICICI Bank down by 1.57%, Tech Mahindra down by 1.39% and Axis Bank down by 1.36% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 55.98 points or 0.7% to 8,032.10 and Germany’s DAX gained 228.73 points or 0.95% to 24,220.00, while UK’s FTSE 100 decreased 100.24 points or 0.98% to 10,263.69.

Asian markets ended mostly higher on Tuesday. Major Asian stock markets, including Japan, China, and South Korea wee closed for public holidays, resulting in thin regional trading. Indonesian shares rose, supported by April inflation easing to 2.42%, the lowest since August 2025 and comfortably within Bank Indonesia’s 1.5%-3.5% target, despite caution ahead of Q1 GDP data releases later today. However, some gains were tempered by renewed strikes on maritime targets near the Strait of Hormuz and damage to port facilities across parts of the Gulf, marking the most serious flare-up since a fragile ceasefire was reached several weeks ago.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

--

--

--

Hang Seng

25,898.61

-197.27

-0.76

Jakarta Composite

7,057.11

85.16

1.21

KLSE Composite

1,747.43

7.66

0.44

Nikkei 225

--

--

--

Straits Times

4,920.61

-3.70

-0.08

KOSPI Composite

--

--

--

Taiwan Weighted

40,769.29

64.15

0.16
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