Stock Market Rally: Why Sensex and Nifty Are Racing Towards New Records

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Sensex Surges 400+ Points, Nifty Jumps 100 Points as Global Trade War Fears Ease

Mumbai, April 29, 2025:
Indian stock markets opened strong today, lifted by positive global cues and easing worries over a trade war. Key sectors like PSU banks, autos, and IT saw strong buying interest, fueling the rally in early trade.

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Sensex and Nifty Start the Day with Big Gains

At around 9:25 AM, the Sensex surged 409.4 points or 0.51% to reach 80,627.85, while the Nifty 50 climbed 118.10 points or 0.49% to 24,446.60.

The Nifty Bank index also showed strength, rising 492.90 points or 0.89% to 55,925.70.
Midcap and smallcap stocks also joined the rally:

• Nifty Midcap 100 was up 490.90 points at 54,931.15.

• Nifty Smallcap 100 gained 183.15 points to trade at 16,860.05.

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Market Support and Resistance Levels to Watch

Nifty Outlook

Analysts believe the Nifty has strong support around 24,250 levels.
On the higher side, resistance levels are at:

• 24,500 (Immediate resistance)

• 24,600 and 24,700 (Next targets if the rally continues)

Bank Nifty Outlook

According to Hardik Matalia, analyst at Choice Broking:

• Support levels for Bank Nifty: 55,300, followed by 55,000 and 54,700.

• Resistance levels: Initial resistance at 55,600, followed by 55,900 and 56,200 if the momentum holds.

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Top Gainers and Losers in Sensex

Top Performers:

• IndusInd Bank

• Bajaj Finserv

• Axis Bank

• Tata Motors

• Mahindra & Mahindra

• Titan

• State Bank of India (SBI)

• Bajaj Finance

• Eternal

• Maruti Suzuki

• Power Grid

Top Losers:

• UltraTech Cement

• Nestle India

• Sun Pharma

• Asian Paints

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Technical View: Sensex Holds Key Support, Eyes Breakout

The Sensex has shown resilience by respecting the crucial 200-day moving average (DMA) near 79,100 during intraday trading.
After bouncing from this strong support, it moved closer to the 61.8% Fibonacci retracement level, boosting positive sentiment.

Vaishali Parekh, Vice President-Technical Research at PL Capital Group, said:

“For a confirmed breakout, Sensex needs to decisively cross the 80,400 resistance level. If that happens, more gains could follow in the coming days.”

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Global Markets Give Positive Signals

Asian markets showed a mixed trend:

• China and Bangkok were trading in the red.

• Jakarta, Seoul, Hong Kong, and Japan were in the green.

In the U.S., Wall Street had a mixed but largely positive session:

• Dow Jones gained 0.28% to close at 40,227.59.

• S&P 500 rose 0.06% to 5,528.75.

• Nasdaq slipped slightly, down 0.10% to 17,366.13.

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Institutional Investors Stay Bullish

Foreign and domestic institutional investors continued their strong buying spree:

• FIIs (Foreign Institutional Investors) were net buyers for the ninth consecutive session, investing ₹2,474.10 crore on April 28.

• DIIs (Domestic Institutional Investors) were net buyers for the second straight session, pumping in ₹2,817.64 crore on the same day.

This steady flow of funds from big players is adding strength to the ongoing rally in Indian equities.

With easing global trade tensions and consistent support from institutional investors, Indian markets have started the week on a positive note. Analysts remain cautiously optimistic, eyeing key resistance levels for potential breakouts in the coming sessions. Investors should watch out for global market trends and domestic triggers to ride this momentum smartly.