{"id":25452,"date":"2026-05-04T17:08:32","date_gmt":"2026-05-04T11:38:32","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=25452"},"modified":"2026-05-04T17:14:23","modified_gmt":"2026-05-04T11:44:23","slug":"sensex-erases-650-point-gains","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/sensex-erases-650-point-gains\/","title":{"rendered":"Sensex Erases 650-Point Gains but Ends Higher \u2014 What Triggered the Sharp Intraday Volatility?"},"content":{"rendered":"

A volatile session keeps investors on edge as BSE Sensex<\/span><\/span> and Nifty 50<\/span><\/span> swing sharply<\/p>\n\n\n\n\n\n\n\n
Index<\/td>\nPrice<\/td>\nChange<\/td>\n% Chg<\/td>\n<\/tr>\n
Nifty 50<\/a><\/td>\n24,119.30<\/td>\n121.75<\/span><\/td>\n+0.51 %<\/span><\/td>\n<\/tr>\n
Nifty Bank<\/a><\/td>\n54,878.50<\/td>\n15.15<\/span><\/td>\n+0.03%<\/span><\/td>\n<\/tr>\n
Nifty Financial<\/a><\/td>\n25,814.40<\/td>\n157.05<\/span><\/td>\n+0.61 %<\/span><\/td>\n<\/tr>\n
BSE SENSEX<\/a><\/td>\n77,269.40<\/td>\n355.90\u00a0 <\/span><\/td>\n+0.46%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Indian equity markets witnessed a highly volatile session on Monday, with benchmark indices reversing a large part of their early gains before closing modestly higher. After surging nearly 1% in early trade, the Sensex dropped over 650 points from its intraday high, highlighting strong profit booking at elevated levels.<\/p>\n

Despite the sharp swings, the market managed to end in the green. The Sensex settled 355.90 points higher at 77,269.40, while the Nifty 50 closed up 121.75 points at 24,119.30.<\/p>\n

Read Previous<\/span> : Sensex Falls 583 Points, Nifty Slips Below 24,000 as Crude Surge Weighs on Markets<\/a><\/p>\n

\"Market
Market volatility explained in detail<\/span><\/figcaption><\/figure>\n

Read More<\/span> : MCX Stock Slides After SEBI Signals Regulatory Roadblock \u2014 Why Did the Market Turn Cautious?<\/a><\/p>\n

Early rally fades as profit booking dominates the second half<\/h2>\n

The day began on a strong note, with the Sensex jumping nearly 1,000 points to hit an intraday high of 77,910.75, while the Nifty crossed 24,290 levels. However, this momentum proved short-lived.<\/p>\n

As the session progressed, investors began booking profits after the sharp rally, dragging indices lower. By mid-session, a significant portion of gains had been wiped out, reflecting hesitation at higher levels.<\/p>\n

An analyst noted:<\/p>\n

\n

\u201cThe market is showing a clear pattern\u2014every sharp rise is being met with selling pressure, indicating caution among investors at higher valuations.\u201d<\/p>\n<\/blockquote>\n

Top 5 Stocks That Led the Rally with Strong Buying Momentum<\/h3>\n
    \n
  • Adani Ports and Special Economic Zone<\/span><\/span> \u2014 \u20b91,747.00 (+5.41%)<\/li>\n
  • Eicher Motors<\/span><\/span> \u2014 \u20b97,330.00 (+3.11%)<\/li>\n
  • Jio Financial Services<\/span><\/span> \u2014 \u20b9253.70 (+2.98%)<\/li>\n
  • Adani Enterprises<\/span><\/span> \u2014 \u20b92,473.00 (+2.68%)<\/li>\n
  • Reliance Industries<\/span><\/span> \u2014 \u20b91,467.20 (+2.54%)<\/li>\n<\/ul>\n

    Top 5 Stocks That Dragged the Market Amid Selling Pressure<\/h3>\n
      \n
    • Kotak Mahindra Bank<\/span><\/span> \u2014 \u20b9371.10 (-3.18%)<\/li>\n
    • Bharti Airtel<\/span><\/span> \u2014 \u20b91,828.00 (-3.12%)<\/li>\n
    • Dr. Reddy’s Laboratories<\/span><\/span> \u2014 \u20b91,288.40 (-2.61%)<\/li>\n
    • Oil and Natural Gas Corporation<\/span><\/span> \u2014 \u20b9292.90 (-2.22%)<\/li>\n
    • Tata Consultancy Services<\/span><\/span> \u2014 \u20b92,430.00 (-1.77%)<\/li>\n<\/ul>\n

      Here\u2019s what happened today and why traders reacted<\/h2>\n

      The sharp intraday reversal was driven by a combination of key factors:<\/p>\n

        \n
      • Profit booking: Investors locked in gains after indices surged more than 1% in early trade<\/li>\n
      • Persistent FII selling: Continued foreign outflows weighed on sentiment<\/li>\n
      • Rupee weakness: Currency hitting record lows added macro pressure<\/li>\n
      • Crude oil concerns: Elevated Brent crude prices raised inflation worries<\/li>\n
      • Geopolitical tensions: Ongoing West Asia developments created uncertainty<\/li>\n<\/ul>\n

        This mix of domestic and global cues triggered a cautious approach among traders, leading to volatility.<\/p>\n

        Sectoral action reveals a divided market trend<\/h2>\n

        The session was marked by sector-specific movements rather than a broad-based rally.<\/p>\n

        Gaining sectors included:<\/p>\n

          \n
        • Realty (up 2.41%)<\/li>\n
        • Metal (up 1.09%)<\/li>\n
        • Pharma (up 0.89%)<\/li>\n
        • Auto and FMCG posted moderate gains<\/li>\n<\/ul>\n

          On the other hand, pressure was visible in:<\/p>\n

            \n
          • IT (down 0.95%)<\/li>\n
          • Media (down 0.54%)<\/li>\n<\/ul>\n

            This divergence highlights selective buying interest rather than strong overall market conviction.<\/p>\n

            Top movers: Where the action was concentrated<\/h2>\n

            Among the top gainers, stocks like Adani Ports and Special Economic Zone<\/span><\/span>, Adani Enterprises<\/span><\/span>, Eicher Motors<\/span><\/span>, Reliance Industries<\/span><\/span>, and Jio Financial Services<\/span><\/span> led the rally.<\/p>\n

            On the losing side, stocks such as Kotak Mahindra Bank<\/span><\/span>, Bharti Airtel<\/span><\/span>, Dr. Reddy’s Laboratories<\/span><\/span>, Oil and Natural Gas Corporation<\/span><\/span>, and Tata Consultancy Services<\/span><\/span> dragged the indices lower.<\/p>\n

            Broader markets stay resilient despite volatility<\/h2>\n

            Even as benchmark indices showed volatility, broader markets remained relatively stable. Midcap and smallcap indices gained around 0.5% each, indicating sustained participation beyond large-cap stocks.<\/p>\n

            Market breadth also remained strong, with 2,138 stocks advancing compared to 1,185 declines. Additionally, 153 stocks touched their 52-week highs, reflecting underlying bullish sentiment.<\/p>\n

            Rupee hits record low, adding to macro concerns<\/h2>\n

            The Indian rupee weakened sharply, falling 39 paise to close at an all-time low of 95.23 against the US dollar. Persistent FII outflows, rising crude oil prices, and geopolitical tensions continued to pressure the currency.<\/p>\n

            Forex traders highlighted that Brent crude hovering near $109 per barrel is increasing India\u2019s import bill and raising inflation concerns, which could impact corporate margins.<\/p>\n

            What supported the market despite volatility<\/h2>\n

            Despite multiple headwinds, the market managed to close higher due to several supportive factors:<\/p>\n

              \n
            • Positive early trends in West Bengal elections boosted sentiment<\/li>\n
            • Better-than-expected Q4 earnings from key companies<\/li>\n
            • Softer crude oil levels compared to peak concerns<\/li>\n
            • Stock-specific developments driving selective buying<\/li>\n<\/ul>\n

              Notably, companies like Bharat Heavy Electricals Limited<\/span><\/span> and Ambuja Cements<\/span><\/span> remained in focus due to strong earnings expectations.<\/p>\n

              Technical view: Signs of resistance at higher levels<\/h2>\n

              From a technical perspective, the Nifty formed a thin-bodied candle with a long upper wick on the daily chart. This pattern has appeared multiple times recently, indicating consistent selling pressure at higher levels.<\/p>\n

                \n
              • Immediate resistance: 24,250\u201324,300<\/li>\n
              • Upside targets: 24,450 and 24,600<\/li>\n
              • Immediate support: 23,980\u201323,950<\/li>\n<\/ul>\n

                Bank Nifty also showed weakness, facing rejection near the 55,500\u201355,600 zone, suggesting cautious sentiment in the banking space.<\/p>\n

                Global and macro cues to drive markets ahead<\/h2>\n

                Looking ahead, markets are expected to remain volatile and news-driven. Key factors to watch include:<\/p>\n

                  \n
                • Developments in West Asia and crude oil prices<\/li>\n
                • State election outcomes across India<\/li>\n
                • FII flows and currency movement<\/li>\n
                • Key macroeconomic data such as PMI and forex reserves<\/li>\n
                • Global cues including US jobs data<\/li>\n<\/ul>\n

                  Global markets showed mixed trends, with European indices slightly lower while US futures remained marginally positive.<\/p>\n

                  What this means for investors and traders<\/h2>\n

                  For traders, the current market setup suggests a \u201csell on rise\u201d strategy as long as indices struggle to sustain higher levels.<\/p>\n

                  For investors, the broader trend remains cautiously positive, but volatility is likely to persist due to global uncertainties and macro pressures.<\/p>\n

                  An expert added:<\/p>\n

                  \n

                  \u201cMarkets may continue to move higher towards 25,000\u201325,600 levels, but the journey will not be smooth given the current global and domestic factors.\u201d<\/p>\n<\/blockquote>\n

                  Portfolio impact: Gains with caution<\/h2>\n

                  Monday\u2019s session added over \u20b94 lakh crore to the total market capitalisation of BSE-listed companies, taking it above \u20b9467 lakh crore.<\/p>\n

                  While this reflects underlying strength, the sharp intraday swings serve as a reminder that markets are entering a phase of consolidation.<\/p>\n

                  Investors should focus on:<\/p>\n

                    \n
                  • Quality stocks with strong earnings visibility<\/li>\n
                  • Sectoral opportunities rather than broad-based exposure<\/li>\n
                  • Managing risk amid rising volatility<\/li>\n<\/ul>\n

                    The bigger picture: A market balancing optimism with caution<\/h2>\n

                    The current market trend reflects a delicate balance. On one hand, strong earnings, political clarity, and sectoral growth are supporting sentiment. On the other, global uncertainties, rising crude prices, and currency weakness are capping upside.<\/p>\n

                    As a result, markets may continue to move higher\u2014but with frequent corrections along the way.<\/p>\n","protected":false},"excerpt":{"rendered":"

                    A volatile session keeps investors on edge as BSE Sensex and Nifty 50 swing sharply Index Price Change % Chg Nifty 50 24,119.30 121.75 +0.51 % Nifty Bank 54,878.50 15.15 +0.03% Nifty Financial 25,814.40 157.05 +0.61 % BSE SENSEX 77,269.40 355.90\u00a0 +0.46% Indian equity markets witnessed a highly volatile session on Monday, with benchmark indices […]<\/p>\n","protected":false},"author":4,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1331],"class_list":{"0":"post-25452","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1331,"user_id":4,"is_guest":0,"slug":"sourabh","display_name":"Sourabh Sharma","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/25452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=25452"}],"version-history":[{"count":2,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/25452\/revisions"}],"predecessor-version":[{"id":25456,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/25452\/revisions\/25456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/25455"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=25452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=25452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=25452"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=25452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}