JKB Financial Services Ltd.

As on : 05-May-2026

Market Commentary - Mid-Session
05-May-2026 12:32

Nifty trades below 24,000 level; private bank shares decline

The key equity benchmarks traded with modest losses in early afternoon trade, tracking weakness in global markets as escalating US'Iran conflict in the Middle East weighed on investor sentiment. The Nifty traded below the 24,000 level. Private bank shares extended losses for the third consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex slipped 527.77 points or 0.68% to 76,726.65. The Nifty 50 index fell 164.60 points or 0.68% to 23,953.55.

The broader market outperformed the frontliner indices. The BSE 150 MidCap Index slipped 0.08% and the BSE 250 SmallCap Index rose 0.04%.

The market breadth was negative. On the BSE, 1,703 shares rose and 2,236 shares fell. A total of 218 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.30% to 18.36. The Nifty 26 May 2026 futures were trading at 24,035.90, at a premium of 82.35 points as compared with the spot at 23,953.55.

The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 53.5 lakh contracts at the 25,000 strike price. A maximum put OI of 42.5 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Private Bank index shed 0.88% to 26,017.15. The index declined 1.88% in the three consecutive trading sessions.

HDFC Bank (down 1.79%), ICICI Bank (down 1.72%), IDFC First Bank (down 1.68%), Axis Bank (down 1.13%), Yes Bank (down 0.8%), IndusInd Bank (down 0.72%), Bandhan Bank (down 0.52%), Federal Bank (down 0.5%) fell.

On the other hand, RBL Bank (up 1.3%) and Kotak Mahindra Bank (up 0.38%) edged higher.

Stocks in Spotlight:

Computer Age Management Services (CAMS) jumped 8.59% after the company's consolidated net profit surged 10.88% to Rs 126.43 crore on an 11% increase in revenue from operations to Rs 395.22 crore in Q4 FY26 over Q4 FY25.

Jindal Stainless fell 0.76%. The company reported a 3.61% decline in standalone net profit to Rs 891.57 crore despite a 0.38% rise in revenue from operations to Rs 10,826.47 crore in Q4 FY26 over Q4 FY25.

Tata Chemicals shed 0.35%. The company's consolidated net loss widened to Rs 2,132 crore in Q4 FY26 compared with a net loss of Rs 74 crore in Q4 FY25. Revenue from operations slipped 2.02% YoY to Rs 3,438 crore, driven by lower realization (mainly due to lower exports from the US), offset by higher volumes in India.

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