The Indian stock market witnessed a strong recovery on Monday, April 28, 2025, with the Sensex jumping 1006 points to close above the crucial 80,000 mark. Renewed optimism from strong corporate earnings, easing border tensions and continued foreign fund inflows fuelled widespread buying across sectors.
Sensex Hits New High, Nifty Crosses 24,300
Opening strongly, the BSE Sensex opened with a positive gap and maintained its bullish momentum throughout the day. It touched an intraday high of 80,322 and closed at 80,218.37, up 1,006 points or 1.27%. Parallelly, the NSE Nifty closed at 24,328.50, up 289.15 points or 1.20%.
The main driver of this rally was Reliance Industries, which gained 5.27% after reporting better-than-expected quarterly earnings. Reliance reported a 2.4% rise in its net profit in the March quarter, which significantly boosted market sentiment.
Banking and Energy Stocks Drive the Surge
Banking stocks played a key role in the recovery as the Sensex surged 1006 points. Key players such as ICICI Bank, Axis Bank, HDFC Bank and State Bank of India contributed significantly to the day’s gain, which together added nearly 340 points to the index.
Apart from financials, sectors such as oil and gas, metals, realty, pharma and auto registered notable gains ranging between 1% and 3%. The BSE oil and gas index led the sectoral rally, rising nearly 3%.
Midcap and smallcap stocks also participated in the recovery. The BSE midcap index rose 1.3%, while the smallcap index rose 0.4%, reflecting broad investor confidence.
Key Gainers and Losers
While the Sensex rallied 1006 points, stocks such as Sun Pharma, Mahindra & Mahindra, Tata Steel, Tata Motors and Larsen & Toubro performed strongly, gaining 2-3%. Bharat Electronics and SBI Life were also among the top performers on the Nifty.
However, not all counters enjoyed the rally. Companies such as HCL Technologies, UltraTech Cement, Hindustan Unilever, Shriram Finance and Eternal bore the brunt of the selling pressure, with HCL Tech slipping nearly 2%.
Foreign Inflows Boost Sentiment
Foreign institutional investors (FIIs) played a key role in the Sensex’s 1006-point surge by investing ₹17,425 crore in Indian equities last week. A favourable global environment, including a weaker US dollar and stable domestic macroeconomic indicators, further fuelled the rally.
According to exchange data, FIIs bought ₹2,952.33 crore worth of equities on Friday, boosting the market momentum in the new week.
Technical Outlook: Important Resistance and Support Levels
Market experts suggest that the next important resistance for the Nifty is around 24,400-24,500. A decisive break above these levels could take the index towards 24,800. On the downside, support is placed at 24,200 and 24,000.
Rupak Dey, Senior Technical Analyst at LKP Securities, said, “On the higher side, 24,360 remains a resistance level. A close above this could open the doors for a move towards 24,550, which is in line with the 61.80% Fibonacci retracement level of the previous decline from 26,277 to 21,743.”
Global Markets and Currency Moves
Global markets also contributed positively as Asian indices such as South Korea’s Kospi and Tokyo’s Nikkei closed with gains. European stocks were firm, while US markets had traded with gains in the previous session.
Meanwhile, the Indian rupee strengthened against the US dollar and ended the day with a gain of 0.25% at 84.98. Improvement in domestic equities, steady foreign inflows and rising forex reserves played a key role in supporting the rupee.
Cautious Optimism Ahead
Although the Sensex jumped 1006 points and the immediate sentiment is optimistic, analysts advise caution. Geopolitical risks, including the unresolved Pahalgam terror incident, could lead to volatility in the coming sessions. Investors are encouraged to adopt a selective approach, focusing on fundamentally strong stocks.
Ajeet Mishra of Religare Broking emphasized, “While the recovery is encouraging, participants should maintain a positive but cautious bias given the geopolitical tensions.”
Conclusion
The sharp 1006 point jump in the Sensex has highlighted the resilience of Indian equities despite external pressures. Strong corporate earnings, robust foreign inflows and easing geopolitical tensions have set a positive tone. However, with crucial resistance levels ahead, the coming sessions will test the market’s strength. Investors should remain cautious, balancing optimism with smart risk management strategies.
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