Stock Market Highlights, April 29: Sensex soars 941 pts led by ICICI Bk, SBI; Nifty nears 22,650
Stock market highlights on April 29, 2024: ICICI Bank led the banking index with the gains of over 4.30 per cent. ICICI Bank was also the top gainer on both BSE and NSE, when the market closed
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Stock market highlights on April 29, 2024: Benchmark indices S&P BSE Sensex and NSE Nifty ended higher on Monday on the back of strong gains in banking stocks.
ICICI Bank led the banking index with the gains of over 4.30 per cent. ICICI Bank was also the top gainer on both BSE and NSE, when the market closed.
BSE Sensex closed 1.28 per cent or 941.12 points higher at 74,671.28 levels, while NSE Nifty50 closed 1 per cent or 223.44 points higher at 22,643.40 levels.
Individually, apart from ICICI Bank, SBI, IndusInd Bank, and Axis Bank were among the top gainers while Wipro, HCLTech, and ITC were among the major laggards.
In the broader markets, Nifty MidCap and SmallCap ended with gains of over 0.40 per cent and 0.20 per cent, respectively.
Sectorally, the Nifty Bank, PSU Bank and Private Bank jumped in the range of 2-2.60 per cent, followed by Financial Services, which rose nearly 2.14 per cent.
Nifty Realty, meanwhile, lost 1 per cent, in an otherwise positive day for the bourses.
3:58 PM
Tech View :: Next stop for Nifty Bank - 50,000
As far as the Bank Nifty is concerned, it closed at a new all-time high of 49,424 and expected to continue with the up move. The rally has been backed by a strong up move in the key heavyweights like ICICI Bank, AXIS Bank to name a few. Overall, the trend is positive, and the next immediate hurdle is placed at 49,900 – 50,000. Support base shifts higher to 48,800 – 48,900 zone.
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
3:49 PM
Views by: Rupak De, Senior Technical Analyst, LKP Securities
Tech View :: 'Nifty is projected to top 22,800'
Nifty continued to remain in the uptrend as the index closed with solid gains. The index maintained its position above the critical 21EMA, signaling a continuation of the bullish trend. The momentum indicator, RSI (14), shows a bullish crossover. It is projected to move towards 22,800-22,850 in the short term, with support at 22,550.
Views by: Rupak De, Senior Technical Analyst, LKP Securities
3:48 PM
Comment :: What drove the markets higher on Monday, April 29?
The Indian benchmark indexes rebounded, aided by an upbeat in US tech quarter earnings and a drop in US 10-year yield. Domestically, the Bank Nifty outperformed, driven by its strong performance in the fourth quarter.
An ease in Middle East tensions, coupled with stable earnings, is expected to maintain positive market sentiment. Moving forward, FED policy and US non-farm payroll data will dictate the overall market dynamic
Views by: Vinod Nair, Head of Research, Geojit Financial Services
An ease in Middle East tensions, coupled with stable earnings, is expected to maintain positive market sentiment. Moving forward, FED policy and US non-farm payroll data will dictate the overall market dynamic
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:45 PM
Currency check :: Rupee ends 13 paise weaker at 83.47/$
3:43 PM
Broader markets :: SmallCap index ends flat
3:42 PM
Sectoral trends :: Nifty Bank hits record high, Realty Index falls 1%
3:38 PM
Sensex Heatmap :: 26 gainers vs 4 losers
>> ICICI Bank surges 4.5%, IndusInd Bank 3%, Ultratech Cement and SBI 2.8% each
>> On the downside, HCL Tech fell 5.7%
>> On the downside, HCL Tech fell 5.7%
3:37 PM
Closing Bell :: Nifty ends near 22,650
3:36 PM
Closing Bell :: Sensex leaps 941 pts led by banks
3:24 PM
UltraTech Q4 net profit rises 35% to Rs 2,258.58 crore
>> Profit at Rs 2,258.58 crore vs Rs 1,670.10 crore YoY.
>> Revenue from operations stood at Rs 20,418.94 crore, up 9.8 per cent YoY
>> Board recommended a dividend of Rs 70 per share
>> Board recommended a dividend of Rs 70 per share
Topics : Markets Sensex Nifty stock market trading S&P BSE Sensex Nifty 50 Q4 Results ICICI Bank UltraTech Cement MARKET WRAP
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First Published: Apr 29 2024 | 7:35 AM IST