Sensex gains 70 points on Reliance and IT stocks surge; Nifty ends nearly flat. Investor focus on Q4 results; foreign investment increases.
Closing Bell Today: India's domestic stock markets continued their upward trend for the third consecutive day on April 29th. The Sensex closed in the green, driven by gains in Reliance Industries and IT stocks. However, the Nifty ended nearly flat. Amidst global market fluctuations, domestic investors are now awaiting fourth-quarter results.
Sensex and Nifty Status
Sensex: The BSE Sensex opened at 80,396.92, up 70 points. It later reached 80,661.31. At 2 PM, the Sensex was up 163.57 points (0.20%) at 80,381.94.
Nifty: The National Stock Exchange's Nifty 50 also opened positively at 24,370.70. In the afternoon, it was up 27 points (0.11%) at 24,355.50.
Reliance and IT Stocks Surge
Reliance Industries shares continued their rally for the second consecutive day, providing b support to the Sensex. Furthermore, the IT sector also witnessed growth, boosting the market.
Compared to the previous day's gains: Monday also saw a b surge in the market. Buying in Reliance Industries and other heavyweight company shares propelled the Sensex up by 1005.84 points (1.27%), closing at 80,218.37. Meanwhile, the Nifty also gained 289 points (1.20%), closing at 24,328.50.
Domestic Investors Focused on Company Results
Domestic market investors are now keenly awaiting fourth-quarter results. There is significant anticipation surrounding the results of major companies such as Bajaj Finserv, Bajaj Finance, and Trent. Foreign institutional investors (FIIs) have also purchased ₹34,941 crore worth of domestic shares over the past nine trading sessions, further indicating market strength.
Global Market Indicators
Global markets experienced fluctuations, but US stock markets ultimately closed on a positive note. The S&P 500 saw a slight increase, while the Nasdaq Composite saw a minor dip. The Dow Jones index closed up 0.28%. Asian markets also witnessed gains today, particularly in Australia and South Korea.
Focus on Q4 Results of These Companies
Several major companies are scheduled to announce their fourth-quarter results today. These include:
- Oberoi Realty
- Central Bank of India
- Go Digit
- Adani Total Gas
- AWL Agri Business
- UltraTech Cement
- IDBI Bank
- UCO Bank
- Castrol India
- Nippon Life AMC
- RPG Life Sciences
- Fino Payments Bank
- Keffin Technologies
- Firstsource Solutions
- PNB Housing Finance
- Greenply Industries
