Indian Stock Market Opens Higher on April 29th.
Stock Market: India's stock market opened higher for the third consecutive day on Tuesday, April 29th. Following positive trends in Asian markets, the BSE Sensex surged over 300 points, opening at 80,396.92. Similarly, the Nifty-50 also opened positively at 24,370.70.
Monday also witnessed a significant market rally. Buying in shares of large companies like Reliance Industries propelled the Sensex to close at 80,218.37, up 1005.84 points (1.27%). The Nifty-50 also closed higher at 24,328.50, up 289 points (1.20%).
Investors Focus on Quarterly Results
Domestic investors are now keenly observing the fourth-quarter results. Results from major companies such as Bajaj Finserv, Bajaj Finance, and Trent are expected to significantly impact the market.
Furthermore, Foreign Institutional Investors (FIIs) have purchased shares worth ₹34,941 crore over the past nine trading sessions, a factor that could influence market direction.
Global Market Signals
Major Wall Street indices concluded with positive gains after fluctuating throughout the previous day. The S&P 500 saw a slight increase (0.06%), while the Nasdaq experienced a minor dip. Asian markets are also showing upward trends today. Australia's S&P/ASX 200 rose by 0.56%, and South Korea's Kospi increased by 0.27%. However, the Japanese market remained closed due to a public holiday.
Focus Remains on Quarterly Earnings
Several major companies are expected to release their fourth-quarter results today. These include Oberoi Realty, Central Bank of India, Go Digit, Adani Total Gas, UltraTech Cement, IDBI Bank, and many others. These results could significantly impact the market.
