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Sensex, Nifty gain traction in late noon deals
May-06-2026

A sharp gaining traction witnessed in Indian equity markets during late afternoon deals, following a rally in global markets, amid hopes of a US-Iran peace deal. Sentiments remained positive, supported by sector-wide participation and steady buying across key indices. Adding more optimism, India’s services sector witnessed robust expansion in the month of April 2026, after activity and new orders strengthened, even as new export orders eased. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index surged to 58.8 in April from 57.5 in March. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also jumped to 58.2 in April as against 57.0 in March.

On the global front, European markets were trading higher, lifted by some strong earnings updates, and hopes of a U.S.-Iran peace deal following U.S. President Donald Trump's announcement of a temporary suspension of 'Project Freedom' in order to resume negotiations with Iran.

The BSE Sensex is currently trading at 77922.32, up by 904.53 points or 1.17% after trading in a range of 76773.25 and 78022.78. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.81%, Realty up by 2.55%, Bankex up by 2.54%, Auto up by 2.17% and Healthcare up by 2.14%, while Power down by 0.40%, FMCG down by 0.12%, Energy down by 0.07% and Utilities down by 0.05% were the top losing indices on BSE.

The top gainers on the Sensex were Interglobe Aviation up by 7.16%, Trent up by 3.71%, SBI up by 3.32%, Eternal up by 3.24% and HDFC Bank up by 3.17%. On the flip side, Reliance Industries down by 1.79%, Larsen & Toubro down by 1.47%, Power Grid down by 0.89%, Infosys down by 0.82% and HCL Tech. down by 0.67% were the top losers.

Meanwhile, reaching to a five-month high, India’s services sector witnessed robust expansion in the month of April 2026, after activity and new orders strengthened, even as new export orders eased. Competitive pricing, e-commerce and particularly strong customer demand for relocation and logistic services boosted sales growth. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index surged to 58.8 in April from 57.5 in March. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also jumped to 58.2 in April as against 57.0 in March.

The report noted that consumer Services led April's expansion in new orders and output, followed by Transport, Information & Communication. However, growth of international demand for Indian services lost strength. The war in the Middle East and subdued inbound tourism dampened the expansion. Companies recruited more workers at the start of the first fiscal quarter. Rising volumes of new business boosted the recruitment of short-term staff and junior-level trainees. Sustained hiring growth enabled firms to reduce outstanding business levels for the first time in four months. However, the rate of backlog depletion was only marginal.

On the inflation front, input costs rose at a softer rate, but one that was still among the highest in around a year-and-a-half. A great degree of cost absorption was highlighted by a relatively moderate rise in output charges that was the weakest in three months. Meanwhile, Indian services companies were confident of a rise in output over the course of the coming 12 months. Optimism was supported by forecasts of demand growth, marketing initiatives and rising client enquiries. The level of positive sentiment nevertheless fell from March, dampened by worries surrounding the war in the Middle East and cost pressures.

The CNX Nifty is currently trading at 24348.25, up by 315.45 points or 1.31% after trading in a range of 23997.90 and 24356.50. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Interglobe Aviation up by 7.28%, Tata MotorsPassenger up by 5.00%, Shriram Finance up by 4.07%, Dr. Reddy's Lab up by 3.96% and Trent up by 3.86%. On the flip side, ONGC down by 2.91%, Larsen & Toubro down by 1.45%, Reliance Industries down by 1.43%, Power Grid down by 0.95% and Infosys down by 0.76% were the top losers.

European markets were trading higher; France’s CAC rose 195.39 points or 2.42% to 8,257.70, Germany’s DAX gained 525 points or 2.15% to 24,926.70 and UK’s FTSE 100 increased 220.92 points or 2.16% to 10,440.03.

All Asian markets were trading higher; KOSPI increased 447.57 points or 6.06% to 7,384.56, Hang Seng advanced 321.39 points or 1.23% to 26,220.00, Shanghai Composite strengthened 48.01 points or 1.15% to 4,160.17, Taiwan Weighted added 369.56 points or 0.9% to 41,138.85, Jakarta Composite gained 18.63 points or 0.26% to 7,075.74 and Straits Times rose 9.03 points or 0.18% to 4,929.64.
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