Share Market Today on May 4: Today is a big day for the country because the election results of 4 states and 1 union territory will be declared today. Investors will also keep an eye on this. On the day of election results, there is a huge rise in the stock market.

On one hand, Sensex started trading at 77257.27 with a gain of 343.77 points or 0.45 percent. At the same time, Nifty also opened at the level of 24,245.85. This bullish trend in the initial trade continued further. After some time, Sensex was seen trading with a gain of 603.67 points or 0.78 percent. At the same time, Nifty is currently trading at 24,122.55 points after gaining 125 points or 0.52 percent.

Due to market boom

Excitement about election results- The results of assembly elections of 5 states are coming continuously. Investors’ eyes are fixed on the results of Assam, West Bengal, Tamil Nadu and Kerala. The initial positive trends of vote counting have strengthened the market sentiments. For the markets, Kotak Institutional Equities indicate that BJP’s victory in key states will be certain.

Relief in Hormuz crisis- US President Donald Trump has said that America will start efforts to ‘guide’ stranded ships through the Strait of Hormuz. He said that ‘Project Freedom’ would start in West Asia on Monday morning and his representatives were in talks with Iran. Trump posted on his Truth social, “I am fully aware that my representatives are having very positive conversations with the country of Iran and that these conversations can lead to something very positive for everyone.”

Strength in Asian markets- Buying has returned in the Indian stock market amid strong signals from America and other Asian markets. Investors were busy speculating about Donald Trump’s plan to ‘liberate’ the ships stuck in the Strait of Hormuz. Meanwhile, Hong Kong’s Hang Seng index futures were at 25,992, while the index’s previous closing was 25,776.53. The markets of Japan and China are closed due to public holidays.

US Futures- US futures remained almost flat after latest developments in West Asia. S&P 500 futures gained 0.1 percent and Nasdaq 100 futures were nearly flat. Futures tied to the Dow Jones Industrial Average rose 81 points, or about 0.2 percent.

Crude oil- Crude oil prices fell after Trump said the US would lead efforts to guide ships stuck in the Strait of Hormuz. The Organization of Petroleum Exporting Countries (OPEC+) and its allies voted to increase their production quota in view of the US and Israel’s war on Iran and increasing supply disruptions due to the UAE leaving the organization. This was the first meeting without OPEC. Brent oil futures for July fell 0.3 percent to $ 107.88 per barrel.

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