Stock Market Update: Vodafone Idea, HFCL, Meesho, JP Power and BHEL Experience High Trading Volume on May 4, 2026

Indian Stock Market Sees Across-the-Board Buying Interest

The Indian stock market witnessed strong buying interest on Monday, 4 May, driving the benchmarks higher by more than 1% each during the session. This surge in the market can be attributed to the early results of the Assembly Elections 2026, which showed the BJP taking a decisive lead in states like West Bengal and Assam. Additionally, rising hopes of US-Iran talks and a slight dip in crude oil prices influenced the sentiment.

The Nifty 50 reclaimed the psychologically crucial 24,000 mark, rising to 24,290 during the session. This milestone is a significant indicator of the market's performance. The top traded stocks on the National Stock Exchange (NSE) were Vodafone Idea, HFCL, Meesho, Jaiprakash Power Ventures (JP Power), Bharat Heavy Electricals (BHEL), Vedanta, Suzlon Energy, and Kotak Mahindra Bank.

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The most traded stocks on the NSE included Vodafone Idea, HFCL, Meesho, JP Power, and BHEL. Vodafone Idea saw a significant surge in its stock price after the company received relief on its adjusted gross revenue (AGR) dues. The government reduced Vodafone Idea's AGR liability by approximately 27%, or ₹23,649 crore, bringing the total dues down to ₹64,046 crore after reassessment.

HFCL also saw a significant increase in its stock price after the company reported its highest-ever consolidated profit of ₹184.45 crore for Q4FY26. The company's shareholders approved the special resolution at the Extra-Ordinary General Meeting (EGM) on Friday, 24 April, about the proposed issue of warrants on a preferential basis to promoters and promoter group.

Meesho's stock price jumped 14% during the session after JP Morgan initiated coverage with an 'overweight' rating and a target price of ₹215. JP Power saw a stellar gain of more than 40% in April, with its stock climbing more than 3% during the session. BHEL's stock price jumped more than 13% during the session to its 52-week high of ₹399 after reporting a nearly threefold jump in Q4 profit.