BTC moved from around $79.8K to highs near $81.7K before facing some resistance. Oil slipping below $100 after Trump paused Project Freedom through the Strait of Hormuz has eased part of the geopolitical pressure, helping BTC hold near the $81K level. Options markets also remain constructive, with bullish skew indicating that traders are still leaning toward upside exposure. In the near term, the $80K zone remains the key level to watch, as holding above it could support stabilization and keep BTC's broader recovery structure intact.

Iran's Islamic Revolutionary Guard Corps (IRGC) Navy has warned all vessels intending to transit the Strait of Hormuz to strictly follow routes designated by Tehran

The dollar eased against most major currencies on Wednesday after the US signalled it was nearing a deal with Iran

Aadhar Housing Finance Ltd, announced its audited financial results for the quarter and full year ended March 31, 2026. 

Rajesh Palviya, Head of Research, Axis Direct

On Tuesday, the Nifty declined by 86 points to close at 24,032.80. During the session, it briefly touched 23,882 before a late recovery helped defend the 24,000 level. Meanwhile, Wall Street reached new highs overnight, with the S&P 500 and Nasdaq rising 0.81% and 1.03%, supported by strong tech earnings and softer crude prices. Japanese stocks are resuming trading after Golden Week, while regional markets follow the positive US trend. Brent crude has fallen to around $110 per barrel, gold is near $4,570 an ounce, silver around $72.6, and copper remains at $5.85 per pound. The GIFT Nifty is at 24,300, indicating a positive start of approximately 200 points aligned with global cues. Technically, the market sentiment is cautiously bullish, but a sustained daily close above 24,250 is needed to extend the rally towards 24350-24450. If 23,900 is not held, the index could test the 23,800-23,700 zone.

At the close on Tuesday (May 5), the total market cap of all BSE Sensex companies stood at Rs 4,66,81,452.