Stock Market Update: Top Gainers and Losers on May 4 Include Meesho, Vedanta, HFCL, and Others.

Indian Markets End Monday's Trade with Healthy Gains

The headline indices concluded Monday's trade on May 4 with significant gains, driven by strong buying in heavyweight stocks. Early trends from the state elections, which showed the Bharatiya Janata Party leading in key states, further boosted market sentiment.

The key indices opened on a muted note but gradually gained momentum during the first half of trade. However, profit booking at higher levels capped the upside, with the Nifty 50 eventually settling at 24,119, up 0.51% from the previous close. The S&P BSE Sensex concluded the session with a modest gain of 0.31% at 77,159.

The broader market outperformed the frontline indices, with the Nifty Midcap 100 and Nifty Smallcap 100 each ending the day with gains of over 0.60%. Major support for the benchmark came from heavyweights such as Hindustan Unilever, Reliance Industries, and Maruti Suzuki India.

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Market analysts pointed out that investor sentiment remained supported by a favourable election outcome in West Bengal and better-than-expected Q4 earnings, helping markets look past Middle East-related concerns. However, intermittent profit booking persisted amid uncertainty surrounding the U.S. "Project Freedom" initiative to reopen the Strait of Hormuz.

Key Performers

The sharp upside in select stocks was triggered by positive result reactions. Cemindia Projects surged 17.32% to ₹956.45 after hitting the 20% upper circuit limit. Dr. Lal PathLabs emerged as the second-best performer of the trade, rallying 15% to ₹1,573 apiece after reporting its March quarter numbers.

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Other notable gainers included Meesho, which extended its winning run for the second straight session, gaining another 11.7% to ₹215.7. RR Kabel also reacted positively to its March quarter earnings, with the stock settling 13% higher at ₹1,775 apiece. Bharat Heavy Electricals climbed 7% to ₹378 apiece after its Q4 numbers came in ahead of Street estimates.

Real Estate and Defence Sectors

In the real estate space, Anant Raj gained 4.8% to ₹510.4 apiece, while Godrej Properties jumped 3.5% to ₹1,899 after its Q4 results. Other stocks in the space, including DLF, Lodha Developers, and Prestige Estates Projects, all closed with gains of over 2%.

In the defence pack, Hindustan Aeronautics ended 5% higher at ₹4,559 apiece, while ideaForge Technology was locked in the 20% upper circuit at ₹731 after the company turned profitable in the March quarter.