RIL Q4 lifts Sensex 1,100 pts; reasons behind market rally, levels to watch

Why are stock markets rising today: Reliance Industries, Sun Pharmaceuticals, Tata Steel, ICICI Bank, Axis Bank, IndusInd Bank, Tata Motors, L&T, SBI, Adani Ports, M&M, & Power Grid jumped up to 5%

Sensex, Nifty today, why are markets rising: Indian stock markets climbed the wall of worries around the India-Pakistan border skirmishes on Monday, April 28, as the BSE Sensex and NSE Nifty indices surged over 1 per cent in the intraday trade today.

 

The BSE Sensex today zoomed 1,109.35 points, or 1.4 per cent, to hit a high of 80,322 level during the session. The NSE Nifty50, meanwhile, jumped 316 points, or 1.3 per cent, to the day’s high of 24,355.10.  MARKET BLOG: READ OUR LIVE COVERAGE OF STOCK MARKETS HERE

 

In the broader markets, the Nifty MidCap index was up 1.2 per cent, while the Nifty SmallCap index added 0.8 per cent around noon today.

 

 

Top gainers today:

Reliance Industries, Sun Pharmaceuticals, Tata Steel, ICICI Bank, Axis Bank, IndusInd Bank, Tata Motors, L&T, SBI, Adani Ports, NTPC, M&M, and Power Grid were the top gainers on the Sensex today, rising between 1 per cent and 5 per cent.

 

In the broader markets, Mazagon Dock Shipbuilders, Whirlpool of India, Lupin, Indraprastha Gas Ltd, Aditya Birla Fashion, Glenmark Pharmaceuticals, RBL Bank, Paras Defence, DCB Bank, Garden Reach Shipbuilders, and Data Patterns were the top midcap gains and smallcap gainers.

 

Why are Sensex, Nifty rising today? Top factors behind stock market rally today:

 

RIL share price zooms on Q4 boost:

Reliance Industries stock, the benchmark indices' biggest heavyweight, was trading as the top gainer on the Sensex and Nifty indices today, following its Q4 results announcement.

 

RIL share price advanced 5.03 per cent to ₹1,365.5 per share on the BSE today after analysts predicted robust growth for the Mukesh Ambani-led company in the current financial year 2025-26 (FY26).

 

"Over the last decade, RIL has successfully incubated businesses of the future, such as digital services and retail, and has transformed itself from being a legacy O&G (oil and gas) business. In telecoms, RIL is the industry leader, and has made significantly larger investments in 5G than its peers. We think RIL is well-positioned to benefit from rising data demand in India and an increase in telecom tariffs. The Group is industry leader in retail business, while the upstream O&G business had a significant turnaround," said analysts at BNP Paribas with an 'Outperform' rating. They have fixed RIL share price target at ₹1,685 per share.  ALSO READ | Can RIL stock hit ₹ 2,000-mark post Q4 results in 12 months? Trading view

 

Those at Nomura, too, reiterated their ‘Buy’ rating on RIL share with a target price of ₹1,650.

 

"RIL has three upside triggers in the near term: Scale up of the new energy business; upcoming tariff hikes for Jio; and potential IPO/listing for Jio, which will drive value-unlocking for RIL. Additionally, with the completion of streamlining of operations at Reliance Retail (RR), the retail business will sustain a healthy growth trajectory," it said.

 

India counters Pak’s ceasefire violations on LoC:

In a fourth such incident, Pakistan Army started an unprovoked, small arms firing across the Line of Control (LoC) in areas opposite Kupwara and Poonch districts on the intervening night of April 27 and 28, the Indian Army said on Monday. The Indian Army responded "swiftly and effectively", it added.

 

That apart, reports suggest security forces have bombed houses of, at least, nine terror suspects in Jammu and Kashmir, amid a crackdown on terrorists after the April 22-Pahalgam terror attack.

 

India-US trade deal:

India and US have likely agreed on a trade deal, as per a recent Bloomberg report. The deal is expected to cover 19 categories, including greater market access for farm goods, e-commerce, data storage and critical minerals. The terms of reference for a bilateral deal includes trade in goods as well as services, the report added.

 

Easing US-China trade war tensions:

In fresh signs of easing trade war rhetoric, US treasury secretary, Scott Bessent, told reporters over the weekend that “there is a path” to an agreement with China over tariffs.

 

However, while Donald Trump asserted last Friday that tariff negotiations were under way with China, the claim was denied by China’s foreign ministry, which said the US “should stop creating confusion”.

 

FIIs press 'buy' pedal:

Foreing investors have been chipping into Indian stocks for the past eight sessions. Data from NSE shows that foreign portfolio investors (FPIs) bought equities in Indian stock market worth nearly ₹32,500 crore during this period, with April 24's buy value of ₹8,250.5 crore being the second biggest purchase this calendar year.  ALSO READ | Midcap Alert: Marico, AIA Engg, Persistent can rally up to 22%; hint charts

 

Rising global markets:

Most stock markets in Asia were edging higher on Monday as investors tracked trade deal talks between the US and China, and awaited details on China’s plan to "support economic growth".

 

Over the weekend, China’s finance minister Lan Fo’an said that the country will "adopt more proactive macroeconomic policies to promote the realisation of the expected growth target for the whole year and continue to bring stability and momentum to the global economy".

 

Japan’s Nikkei and Australia’s ASX200 added 0.3 per cent each while South Korea’s Kospi gained 0.1 per cent. Markets in China, and Hong Kong, however, were flat.

 

Technical levels: Nifty, Sensex outlook

According to Shrikant Chouhan, Head Equity Research, Kotak Securities, a move above 24,150 on the Nifty and 79,400 on the Sensex could take the indices to 24,400-24,900, and 80,300-81,800 range.

 

"Traders can take a contra call between the 23,500-23,350 levels on the Nifty. Crossing the level of 24,400 levels would result in 24,900 levels," he said.