Mumbai, May 5: The Indian equity markets opened the week with strong gains on Monday, supported by a rally in Adani Group stocks and strength in select auto and banking shares.

Sensex started the day around 160 points higher at 80,662 and climbed to an intra-day high of 81,049.

Although it gave up some of the gains later in the session, the index still ended 295 points up at 80,797.

The Nifty touched a high of 24,526 during the day and eventually closed with a gain of 114 points, or 0.5 per cent, at 24,461.

“Markets started the week on a firm footing, lifted by steady foreign inflows and optimism around an impending India-US trade deal,” said Vikram Kasat of PL Capital.

Strength in Asian currencies and easing global trade tensions added to the positive sentiment, even as activity remained muted in some global markets due to holidays, Kasat added.

The Adani Group was at the centre of investor attention, with shares jumping up to 11 per cent following reports of the company’s top executives holding discussions with officials from the US President Donald Trump administration.

Adani Ports was the top performer among Sensex stocks, soaring 6.3 per cent. Other gainers included Mahindra and Mahindra, ITC, Power Grid Corporation and Tata Motors.

On the other hand, Kotak Mahindra Bank fell 4.5 per cent, making it the biggest loser on the Sensex. SBI and Axis Bank also ended the day in the red.

The broader market outperformed the benchmark indices. The BSE MidCap index jumped 1.5 per cent, while the SmallCap index advanced by 1.2 per cent.

Among sectors, oil and gas stocks saw notable buying, with the BSE Oil and Gas index rising 2 per cent, driven by strength in oil marketing companies.

Consumer durables, energy, and FMCG sectors also posted gains of over 1 per cent each.

However, the BSE Bankex ended lower, down nearly 1 per cent due to pressure on select banking names.

“The upbeat start to the week reflects investor optimism, driven by corporate developments and select sectoral momentum,” market experts noted.

The rupee traded positive, gaining 13 paise to settle at 84.32 as sustained FII inflows continue to support the domestic currency.

“Going ahead, the rupee is expected to trade in a range of 84.00 to 84.75, with continued global risk sentiment and commodity movements guiding intraday volatility,” Jateen Trivedi of LKP Securities noted.

Gold prices surged sharply as expectations of an interest rate cut by the US Federal Reserve this week fuelled strong buying.

Mumbai: Days after airlines trade body IATA expressed disappointment at Mumbai airport operator MIAL’s decision to stop cargo freighter flights and withdrawal of slots for passenger flights, the airport refuted the claim on Thursday.

“Mumbai International Airport Ltd (MIAL) is disappointed by the statement issued by the IATA on April 29 and strongly refutes its assertions,” MIAL said in a statement. “Contrary to the claims made by IATA, the recent adjustments to cargo operations and slot allocations at Chhatrapati Shivaji Maharaj International Airport (CSMIA) have followed a transparent, consultative and regulatordriven process,” it said.

These operational changes are part of a broader infrastructure upgrade initiative governed by the Airports Economic Regulatory Authority of India (AERA) as part of the Fourth Control Period review, MIAL said. In a strongly worded statement on Tuesday, IATA’s Head of Worldwide Airport Slots, John Middleton, called on MIAL to reverse the cuts immediately.

“MIAL continues to respect international best practices, including the guidelines issued by the Worldwide Airport Slot Board and remains committed to maintaining coordination,” the private operator said.

Thiruvananthapuram, May 2: Gautam Adani, Chairman of the Adani Group, on Friday said he is grateful to Prime Minister Narendra Modi and Kerala Chief Minister Pinarayi Vijayan for their support towards building India’s first deep-sea automated port which is a future global transshipment hub, adding that together, “we sail towards a stronger, bolder India”.

This is a triumph of vision, resilience, and partnership, said Gautam Adani as PM Modi dedicated to the nation the Vizhinjam International Deepwater Multipurpose Seaport worth Rs 8,900 crore.

“Today, at Vizhinjam, history, destiny, and possibility came together as a 30-year-old dream of Kerala became India’s gateway to the world,” said the billionaire industrialist in a post on X.

“We are proud to have built India’s first deep-sea automated port. A future global transshipment hub. This is a triumph of vision, resilience, and partnership,” Gautam Adani added.

The Adani Group Chairman further stated that “together, we sail towards a stronger, bolder India.”

Vizhinjam Port, having strategic importance, has been identified as a key priority project that will contribute to strengthening India’s position in global trade, enhance logistics efficiency, and reduce reliance on foreign ports for cargo transhipment.

Its natural deep draft of nearly 20 metres and location near one of the world’s busiest sea trade routes further strengthen India’s position in global trade.

“A historic day. Grateful to the Central and State Governments, and the administration and people of Kerala, especially Thiruvananthapuram, for their support in making this port stand as a testament to India’s strategic and bold maritime ambitions,” said Karan Adani, Managing Director of Adani Ports and SEZ Ltd (APSEZ), in a post on X.

The port is expected to significantly lower logistics costs for Indian manufacturers by 30-40 per cent, enhancing the country’s export competitiveness.

With plans to increase capacity to 5 million TEUs by 2028 with the latest technology, the port is set to play a crucial role in India’s maritime infrastructure.

Working closely with the state government and the Central government, the Adani Group has already invested over Rs 4,500 crore in the Vizhinjam International Seaport project. The Adani Group is expected to invest another Rs 20,000 crore in the project’s upcoming phases, creating more than 5,000 jobs and boosting the local economy to unprecedented heights.