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NIFTY TRADES BELOW 24,000 LEVEL; PRIVATE BANK SHARES DECLINE

Published on May 05, 2026 12:32

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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