Post Market Update- IT, Banks weigh. Markets retreat from highs.

Stocks in the news-

1. Lloyds Metals commissions second 4 mtpa pellet plant at Konsari, Maharashtra.

2. Ashok Leyland April auto sales up 9% at 14,646 units Vs. 13,421 Units YoY.

Earnings -

1. Exide Industries Q4 net profit rose 23% YoY at Rs. 312.4 Cr.

2. Jyothy Labs Q4 net profit down 12.3% YoY at Rs. 68 Cr.

Economic News-

1. HSBC/S&P Global April Mfg PMI came in at 54.7 Vs. 53.9 in March.

Indian indices-

The benchmark indices retreated from their intraday highs on May 04, 2026, as profit-booking in IT and banking stocks capped earlier gains. The drag came mainly from IT and banking stocks, which faced selling pressure amid uncertainty around state election results. The markets managed to end in the green, led by strong performances in the Metals and Realty sectors, despite the pressure from heavyweights. At close, the Sensex was up 355.90 points or 0.46% at 77,269.40, and the Nifty was up 121.75 points or 0.51% at 24,119.30.

Rupee ended at 95.09/$ Vs. April 30, 2026, close of 94.91/$

Buzzing stocks on BSE-

1. Vodafone Idea rose 3.03% to Rs. 10.53, as DoT cuts outstanding AGR dues by 27% to Rs. 64,046 cr from Rs. 87,695 cr.

2. RPSG Ventures climbed 4.07% to Rs. 881.05, tracking renewed investor interest in Indian Premier League franchise valuations after a high-profile ownership deal in the cricketing ecosystem.

3. Godrej Properties gained 3.54% to Rs. 1,899.80, after its consolidated net profit jumped 70.13% to Rs. 649.88 crore in Q4 FY26 over Q4 FY25.

Global Signals-

Asian stock markets on May 4, 2026, ended mixed. South Korea’s Kospi surged to a record high (+4.26%), Hong Kong’s Hang Seng gained (+1.9%), while Australia’s ASX slipped (-0.3%). Japan and China markets were closed for holidays.

European shares ticked lower as European automakers came under pressure following threats of a US tariff hike.