Share Market Highlights 2nd May 2024: Sensex and Nifty trade flat amidst mixed global cues; metal, auto stocks gain

Sensex, Nifty updates on 2nd May 2024: As per provisional figures, the BSE Sensex rose 128.33 pts or 0.17% to 74,611.11 and the NSE Nifty gained 49.70 pts or 0.22% to 22,654.55. Meanwhile, the US Federal Reserve’s decision to hold rates has perplexed market watchers. Fed Chair Jerome Powell stated that despite three months of faster-than-expected price increases, policymakers are still determining if inflation will decline towards the 2% target. April’s GDP collection hit an all-time high in India, although core group output growth slowed in March. This indicates that while specific sectors like steel, coal, cement and power drive economic growth, others like oil and gas lag. Gunjan Prabhakaran, Partner & Leader, Indirect Tax, BDO India, noted that the high GST collection in April reflects strong economic activity in March, the last month of the fiscal year.