The Broader market also ended higher, with Nifty midcap and smallcap indices gaining over 0.5 percent.Ī short buildup, a bearish sign, was seen in RBL Bank, Hero MotoCorp, Atul Auto and United Breweries. Nifty metal was the top sectoral gainers, up 1.42 percent, followed by Nifty energy and IT. On the sectoral front, Nifty FMCG and pharma ended in the red, while all other indices ended in the green. ONGC, Tech Mahindra, HDFC Life, Hindalco and Maruti Suzuki were the top stock gainers on the Nifty, while losers included Hero Motocorp, Sun Pharma, UltraTech Cement, Bharti Airtel and Tata Motors. "Defying the trend in global peers, Indian benchmark indices continued its upward momentum, fuelled by strong Q4 earnings and favourable domestic macroeconomic data," Vinod Nair, Head of Research at Geojit Financial Services said. Going forward, the key factor to watch out for will be the Federal Open Market Committee's (FOMC) interest rate decision on May 3. The US central bank begins its two-day meeting later on May 2. About 2,053 shares advanced, 1,472 declined and 176 remained unchanged. Though the Nifty touched an intraday high of 18,147, it ended below the 18,150 mark. The Sensex closed 242 points, or 0.4 percent, higher at 61,354 and the Nifty ended 82 points, or 0.5 percent, higher at 18,147.70. Contrary to the "Sell in May and go away", the Indian markets made good gains on May 2, the first trading day of the month.
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