The Indian equity indices ended on a strong note, with the Nifty closing above 24,300 and the Sensex up by 1,006 points on April 28, 2025. Reliance Industries, SBI Life, Bharat Electronics, Sun Pharma, and JSW Steel were among the biggest gainers on the Nifty. Shrikant Chouhan from Kotak Securities noted that almost all major sectoral indices traded in positive territory, with Defense and Oil and Gas indices outperforming.
He added that the short-term market texture remains bullish, suggesting buying on intraday dips and selling on rallies as the ideal strategy for day traders. Ajit Mishra from Religare Broking reported that the Nifty index closed near the day’s high at 24,328.50, up by 1.20%. On the sectoral front, all key sectors except IT participated in the rally, with pharma, energy, and auto emerging as the top gainers.
Dilip Parmar from HDFC Securities noted that the Indian rupee struck a confident pose at the start of the week, emerging as the top performer among its Asian counterparts.
Sensex and Nifty gain momentum
The rupee benefitted from India’s expanding foreign exchange reserves and stable performance from the dollar index.
Vinod Nair from Geojit Investments stated that the domestic market recouped from losses incurred during the last two days of the previous week due to border tensions. He advised investors to exercise caution in the near term as the market has yet to discount the impact of retaliation for the Pahalgam terror attack. Rupak De from LKP Securities added that the Nifty recovered smartly, shrugging off last week’s negativity.
However, the upside remained limited to the recent high, keeping the consolidation phase intact. In earnings news, TVS Motor’s Q4 net profit rose 75.7% to ₹852 crore versus ₹485 crore YoY. Meanwhile, JPMorgan maintained a ‘neutral’ rating on Maruti Suzuki with a target price at ₹12,800.
The Indian rupee ended 41 paise higher at 85.03 per dollar on Monday versus Friday’s close of 85.44.