Indian stock market today: Equity benchmark indices Sensex and Nifty 50 wrapped up Monday’s trading session (May 5) in the green, largely led by energy stocks, after global crude oil prices crashed on concerns over rising supplies. The drop in oil prices also lifted crude-sensitive stocks, with paint, aviation, and chemical counters ending the session higher.
Positive global cues—such as the U.S. economy adding 177,000 jobs in April 2025, easing trade tensions between the U.S. and China, and rising optimism that India could be among the first nations to strike a deal with the Donald Trump administration—along with sustained buying by overseas investors, helped the markets maintain their upward momentum.
The Nifty 50 extended its winning run for the second consecutive trading session, gaining another 0.52% to settle at 24,472, while the Sensex jumped 0.43%, finishing the day at 80,850 points. The broader markets ended with even sharper gains, with the Nifty Midcap 100 and Nifty Smallcap 100 concluding the session with gains of 1.86% and 1.06%, respectively.
Meanwhile, Adani Group stocks were in focus during today’s session, with all group companies ending the day with gains between 2% and 11%, amid reports that representatives for Gautam Adani met officials from the Trump administration to seek dismissal of criminal charges in an overseas bribery probe.
Last November, the U.S. Attorney’s Office in New York announced that it had indicted Adani Group chair Gautam Adani and seven other executives over an alleged years-long scheme to bribe Indian officials.
Cables and wires stocks also came under investors’ radar during the session after RR Kabel reported a stellar performance in the March quarter, sending the stock price up by 15%.
OMC stocks such as HPCL, BPCL, and IOCL finished the session with gains of up to 5%, following a sharp drop in crude oil prices, which fell nearly 4% on Monday after OPEC+ confirmed a production hike of 411,000 barrels per day starting in June. The move—reportedly aimed at punishing members that exceeded their quotas—could add as much as 2.2 million barrels per day by November, stoking fears of a potential supply glut.
Investors will look toward the Federal Reserve’s two-day policy meeting set to kick off on Tuesday. Fed funds futures trading points to just a 3.2% chance of a rate cut, according to the CME Group’s FedWatch tool.
Nonetheless, traders will be keeping a close eye on any commentary from the central bank or Fed Chair Jerome Powell on the outlook for the economy amid heightened uncertainty stemming from the trade war.
