Pre-Market 5 May 2026: What To Expect After Nifty Gains 122 Pts, Sensex Rises 356 Pts; Earnings In Focus

Indian markets head into Tuesday after a positive close in the previous session. Gains, however, eased towards the end.

The Sensex rose 356 points to close at 77,269, while the Nifty 50 gained 122 points to settle at 24,119 on 4 May 2026.

What Happened In Monday’s Session?

Markets moved higher, helped by earnings and supportive global cues.

The Nifty held above the 24,100 mark but saw some selling at higher levels. Gains were not uniform. Banking stocks lagged, with the Nifty Bank index almost flat at 54,879.

Market breadth remained positive. The Nifty Midcap 100 index rose 375 points to 60,159.75.

Sentiment got a lift from election outcomes and better-than-expected Q4 earnings. At the same time, traders booked profits intermittently, which kept the upside in check.

Global Cues After Market Hours

Global markets were mixed after Indian trading hours.

In the US, indices ended lower as of 4 May 2026. The Dow Jones Industrial Average fell 556.28 points (1.12%) to 48,942.99. The S&P 500 dropped 28.09 points (0.39%) to 7,202.03, while the Nasdaq Composite declined 47.36 points (0.19%) to 25,067.08.

European markets were also under pressure. The FTSE 100 slipped 14.89 points (0.14%) to 10,363.93, while the CAC 40 fell 138.72 points (1.71%) to 7,976.12.

In Asia, trends were mixed. Japan’s Nikkei 225 rose 228.20 points (0.38%) to 59,513.12, while Hong Kong’s Hang Seng gained 319.35 points (1.24%) to 26,095.88.

GIFT Nifty Update

GIFT Nifty was around 24,061.00, up 16 points (0.07%) as of 4 May 2026, 23:29 IST.

The move is marginal and suggests a largely flat start for domestic markets.

Technical Levels To Watch

The Nifty index continues to move within a narrow band.

• Immediate resistance levels are seen at 24,247, 24,314 and 24,423

• Support is placed at 24,029, 23,962 and 23,853

The index has been trading in a 23,800–24,300 range for over a week.

A move above 24,300 could open the door towards 24,600–24,800. On the downside, 23,800 remains an important support.

The index is still trading above its short-term averages. But it hasn’t managed a sustained move past the 50-day EMA yet.

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What Should Investors Expect Today?

The session is likely to begin on a flat note.

Early trade may remain range bound. Markets could react to earnings announcements and global signals through the day. Election results at the state level may also have an immediate impact on market sentiment.

The 24,300 level is the focus for the time being. The Nifty could go up if it moves above it, but if it doesn't, the index might remain in a range.

Sources:

Reuters

Moneycontrol

CNBC TV18