News

Bulls were back in action on Dalal Steet on April 29, with the benchmark indices erasing losses of the previous two sessions, taking Nifty 50 back above 24,300 led by buying in heavyweights including Reliance Industries and across sectors, barring IT stocks.

Indices started the week on a positive note, extending gains as the day progressed, with Nifty crossing 24,350 intraday but profit booking at higher levels erased some of the gains. At close, the Sensex was up 1,005.84 points or 1.27 percent at 80,218.37, and the Nifty was up 289.15 points or 1.20 percent at 24,328.50. BSE Midcap index rose 1.3 percent, while the smallcap index added 0.4 percent.

Reliance Industries, SBI Life, Bharat Electronics, Sun Pharma, JSW Steel were among biggest gainers on the Nifty, while losers were Shriram Finance, HCL Technologies, Eternal, UltraTech Cement, HUL.

Defence-related shares saw significant buying interest amid high geopolitical tensions, with HAL and BEL rising up to 5 percent and 3 percent respectively.

Among sectors, except IT, all other indices ended in the green with metal, realty, oil & gas, pharma, PSU Bank up 1-3 percent.

Global Setup

On Friday, Wall Street advanced to notch weekly gains, as investors parsed a spate of earnings and looked for signs of easing tensions in the US-China trade tensions.

European indices were trading higher, while Asian shares ended mixed as investors await progress in US trade negotiations with the region and signs of further stimulus from China.

Also Read: UltraTech Q4 results: Net profit jumps 10% to Rs 2,482 crore, firm declares Rs 77.5 dividend

In stock-specific action, Reliance Industries shares gained 5 percent on healthy Q4 earnings, SML Isuzu shares slipped 10 percent after M&M to acquire nearly 59% stake for Rs 555 crore, RBL Bank shares jumped 10 percent despite Q4 profit tanks 80.5 percent, L&T Finance shares declined nearly 3 percent despite Q4FY25 profit jumped 15 percent.

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