Sensex Today | Stock Highlights: Nifty closes flat at 24,346; Sensex ends day with marginal gains

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Market Ends The Friday Session Mixed With Midcaps Underperforming Benchmarks. Sensex & Nifty End With Minor Gains While Midcap Index Slips 1%. Sensex Rises 260 Points To 80,502 & Nifty 13 Points To 24,347. Nifty Bank Rises 28 Points To 55,115 While Midcap Index Falls 420 Pts To 53,705

Nifty Auto Closes Lower Post April Sales Data; Bajaj Auto & Eicher Motors Drop 2% Each

JSW Steel Drops 6% After SC Rejects BPSL’s Resolution Plan

RailTel Rises Nearly 7% After Q4 Profit Jumps 46% YoY

Indus Towers Down 7% As Bd Delays Bonus & Buyback Announcements Post Q4 Results

Phoenix Mills Falls Over 7% & Federal Bank 4% After Failing To Meet Estimates In Q4

Godrej Properties Provides A Mixed Guidance For FY26, Stock Ends 4% Higher

IOC Builds On To Buying Seen On Wednesday, Closes 4% Higher On Strong Q4

Sona BLW Says Onle 3% Of Rev Is At Risk Due To US Tariff, Stock Gains 3%

Eternal (Zomato) Sees Buying Despite A Weak Q4, Closes 1% Higher

SBI Rises 1% While Kotak Mah Bank Slips 1% Ahead Of Its Earnings On Saturday

Market Breadth Favours Declines, Advance-Decline Ratio At 1:1

Indian Overseas Bank, the state-run lender, reported March quarter results on Friday, May 2, where its net profit, as well as its core income, increased on a year-on-year basis. The shares of the bank made gains of 2.31% on the day. The current price of the bank shares stands at ₹37.91.

Partha Pratim Sengupta, Managing Director and CEO of Bandhan Bank believes that while the worst may be behind, the next two quarters will still present challenges—particularly in the microfinance segment.

here#EuroArea Economic Data | Euro area March unemployment rate at 6.2% vs estimate of 6.2% pic.twitter.com/kzWALr4X5a

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

#CNBCTV18Market | Godrej Prop moves higher despite FY26 guidance being largely lower than FY25.

Deliveries & Biz Development are seen lower in FY26 Vs FY25 while Residential Booking is seen higher pic.twitter.com/Uj39ecElQg

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

State Bank of India will report its fourth quarter earnings tomorrow, i.e., on May 3, 2025. The street expects the country’s largest lender to post a 17.8% YoY decline in profits at ₹17,093.6 crore against ₹20,698.4 crore.

SBI shares are trading at ₹795.05, with gains of ₹6.40 or 0.81% on Friday.#4QWithCNBCTV18 | State Bank of India will report its fourth quarter earnings tomorrow, i.e. on May 3, 2025. The street expects the country’s largest lender to post a 17.8% YoY decline in profits at ₹17,093.6 crore against ₹20,698.4 crore. The bank’s NII is likely to grow by… pic.twitter.com/dwSQgxbliO

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

After making losses for three straight sessions, the shares of Jubilant Ingrevia made major gains on Friday. The company shares jumped by 7.54% on the day, after hitting the day’s high of ₹690.90 per share. In the past 3 trading sessions, the company’s shares have lost about 8% of their value.

As markets recover from the mid-day slump, the Nifty IT shows resilience with gains of 0.45%. The surge of the sectoral index was aided by an increase in the value of shares of Persistent, Coforge, Infosys and HCLTech.

Persistent made gains of over 2%.

The shares of Phoenix Mills are under pressure. The company shares declined by over 8% on Friday. This came to pass after the company announced its Q4 results, in which it reported a 17.7% year-on-year (YoY) slide in net profit at ₹268.8 crore for the fourth quarter that ended March 31, 2025, over ₹326.7 in Q4FY24.

Godrej Properties plans to grow residential bookings to ₹32,500 crore in FY26. Guidance through the launch of large new projects combined with strong sales.

The company shares have made gains of 3.30% in today’s session. The shares are currently trading with gains of 1.16%. The current value stands at ₹2,186.50.

As the Indian indices scaled down from major gains of over 1% earlier in the day, on Friday, the Hong Kong-based Hang Seng made major gains. The Hang Seng index has risen by 1.86% so far. The index value currently stands at 22,479.64 points.

Shares of Indus Towers fell as much as 7% on Friday, May 2, in reaction to its fourth quarter results and a delay in their proposal to enhance shareholder value. The stock is among the top losers on the Nifty 500.

Shares of JSW Steel Ltd. fell over 6% on Friday, May 2, after the Supreme Court dealt the resolution plan of Bhushan Power & Steel Ltd., for which JSW Steel was declared the winning bidder, as “illegal.”

#SupremeCourt rejects #JSW Steel’s resolution plan for #BhushanPower and Steel Ltd

SC says resolution plan was illegal and should not have been accepted by CoC: From #CNBCAwaaz pic.twitter.com/qBwosEPjlY

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

With the markets vacillating from highs to lows, here are some stocks that you may want to buy/sell, according to Mitessh Thakkar, Technical Analyst.

-Buy Persistent Systems with a stop loss of ₹5,380 and a target of ₹5,550

-Sell Phoenix with a stop loss of ₹1,575 and a target of ₹1,500

The shares of Coal India are in focus after the public company released its update for April. The company shares dipped, slipping to ₹383.95 per piece. In its April update, the company reported an increase in production, rising by 0.5% & offtake down 1.2% (YoY).#JustIn | #CoalIndia April update

Production up 0.5% & offtake down 1.2% (YoY) pic.twitter.com/TzdcVlidFM

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

Shares of state-run RailTel Corporation of India Ltd. surged as much as 12% on Friday, May 2, after its revenue and net profit hit multi-quarter high levels in the March quarter.

The shares of mining major Vedanta dipped on Friday by just over 0.40%. Brokerage firm Citi believes that Anil Agarwal-owned mining conglomerate Vedanta Ltd. is likely to pay a lower dividend to its shareholders in the financial year 2026, compared to the financial year 2025.

IndusInd Bank rose by 2%. This came in after sources claimed that SEBI found no evidence of insider trading by top IndusInd Bank executives.

#IndusIndBank In Focus | @SEBI_India finds no evidence of insider trading by top IndusInd Bank executives

SEBI investigation looked into share sales by Ex-CEO Sumant Kathpalia, Ex Deputy CEO Arun Khurana & Other Sr Execs

Sources to @_ritusingh pic.twitter.com/wSuPR6XjUD

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

The shares of Federal Bank are under pressure on Friday. The bank’s stock has declined by over 3%. This came to pass after the bank announced its Q4 results. The bank’s Net interest income (NII) increased 8.3% YoY to ₹2,377.4 crore from ₹2,195.2 crore. However, it came in slightly below street expectations of ₹2,431.9 crore.#4QWithCNBCTV18 | A quarter of the assets were in gold and housing loans, MFI stress seems to be bottoming out, expectations are of 2 more rate cuts

Loans for Federal Bank are expected to grow at 15-16%

Harsh Dugar, Federal Bank to CNBC-TV18 pic.twitter.com/DDHNTO08cj

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

Shares of Godrej Agrovet Ltd. fell as much as 9% on Friday, May 2, in reaction to its March quarter results. The stock is the top loser on the Nifty 500 index. With Friday’s drop, the stock is now down 20% from its 52-week high of ₹877, which it had hit in July last year.

Bajaj Auto shares are in focus on Friday. The company’s shares have lost over 1.81% today. In the April auto sales, the company saw its total sales dip by 6%. The stocks are currently trading with a decline of under 1%.#JustIn | #BajajAuto April Total Auto Sales At 3.65 Lk Units Vs CNBC-TV18 Poll Of 3.85 Lk Units

–Total Sales Down 6% At 3.65 Lk Units Vs 3.88 Lk Units (YoY)

–Exports Up 4% At 1.45 LK Units Vs 1.39 LK Units (YoY) pic.twitter.com/HKYfQSQTdb

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

The Indian Rupee has extended its gains against the US Dollar. The currency now stands at 83.97 against a single US dollar. This is the first time that the Rupee has traded below 84 since October 2024.#CNBCTV18Alert| #Rupee extends gains, below 84/$ for the first time since October 2024#RupeeVsDollar pic.twitter.com/2XhyxSjyt6

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

Recommendations by Mitessh Thakkar, Technical Analyst

Buy HDFC Life with a stop loss of ₹730 and a target of ₹770

Buy Maruti Suzuki with a stop loss of ₹12,000 and a target of ₹12,700

Buy Apollo Tyres with a stop loss of ₹464 and a target of ₹485

Sell Exide with a stop loss of ₹360 and a target of ₹332

Recommendations by Shrikant Chouhan, Kotak Securities

Buy Infosys with a stop loss of ₹1,475 and a target of ₹1,575-1,600

Buy Bajaj Finance with a stop loss of ₹8,540 and a target of ₹8,850-8,900

#JustIn | #AshokLeyland April Auto Sales

–Total Sales At 13,421 Units Vs CNBC-TV18 Poll Of 14,246 Units

–Total Sales Down 6% At 13,421 Units Vs 14,271 Units (YoY) pic.twitter.com/9TyoX3TizZ

— CNBC-TV18 (@CNBCTV18Live) May 2, 2025

– Auto sales at 3.65 lakh units vs CNBC-TV18 poll of 3.85 lakh units

– Total sales down 6% at 3.65 lakh units vs 3.88 lakh units (YoY)

– Exports up 4% at 1.45 lakh units vs 1.39 lakh units (YoY)