On May 4, 2026, the Indian stock market rallied significantly, with the BSE Sensex climbing 997.25 points or 1.3% to reach an intra-day high of 77,910.75. The NSE Nifty50 also saw gains, rising 292.65 points or 1.2% to hit 24,290.2. This surge is largely attributed to easing geopolitical tensions, particularly following a statement from US President Donald Trump regarding the Strait of Hormuz, which helped lower Brent crude prices to $107.53 per barrel. Analysts noted that the ongoing assembly elections, especially in West Bengal, are also contributing to positive market sentiment, with the BJP showing potential for gains in the state. In the broader market, the Nifty Midcap 100 and Smallcap indices also rose, reflecting a generally bullish trend across sectoral indices, except for a slight dip in Nifty Media. Overall, the market's upward trajectory suggests a positive outlook, with technical analysts projecting a potential breakout range of 24,050 to 24,350.