JKB Financial Services Ltd.

As on : 07-May-2026

Market Commentary - Mid-Session
07-May-2026 12:34

Barometers trade sideways; realty shares advance

The key equity barometers traded sideways in early afternoon trade. The Nifty traded above the 24,300 level. Realty shares witnessed sustained buying interest for the fourth consecutive session.

At 11:30 IST, the barometer index, the S&P BSE Sensex lost 59.16 points or 0.07% to 77,899.36. The Nifty 50 index rose 14.05 points or 0.06% to 24,346.45.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 0.83% and the BSE 250 SmallCap Index rallied 1.04%.

The market breadth was strong. On the BSE, 2,676 shares rose and 1,325 shares fell. A total of 216 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.92% to 16.83. The Nifty 26 May 2026 futures were trading at 24,411, at a premium of 64.55 points as compared with the spot at 24,346.45.

The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 59.2 lakh contracts at the 25,000 strike price. A maximum put OI of 41.9 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Metal index rose 0.75% to 13,228. The index jumped 3.08% in the four consecutive trading sessions.

Hindustan Copper (up 4.45%), APL Apollo Tubes (up 2.13%), Steel Authority of India (up 2.07%), NMDC (up 1.59%), Hindustan Zinc (up 1.55%), JSW Steel (up 1.31%), Hindalco Industries (up 1.29%), Tata Steel (up 1.05%), Welspun Corp (up 0.61%) and National Aluminium Company (up 0.42%) rose.

Stocks in Spotlight:

Meesho advanced 3.54% after the company's consolidated net loss narrowed to Rs 166.34 crore in Q4 FY26 compared with a net loss of Rs 1,393.12 crore in Q4 FY25. Revenue from operations climbed 47.14% YoY to Rs 3,531.21 crore in Q4 FY26.

Bharat Seats jumped 2.16% after the company's standalone net profit spiked 16.43% to Rs 13.25 crore in Q4 FY26, compared with Rs 11.38 crore posted in Q4 FY25. Revenue from operations rallied 46.15% to Rs 574.27 crore in Q4 FY26 as against Rs 392.91 crore posted in Q4 FY25.

Bajaj Auto added 3.49% after the company reported a 34% jump in consolidated net profit to Rs 2,746.13 crore on a 31.76% increase in revenue from operations to Rs 16,005.85 crore in Q4 FY26 over Q4 FY25.

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