Stock Market Buzz: Nifty, Sensex Gain In Opening Bell; RIL, M&M Rally; Top Gainers & Losers Here

Stock Market Opening: The Indian stock market indices opened on a strong note on Monday, April 28, shrugging the cautious sentiment dominating the Indian bourses last week. Nifty 50 was nominally higher at 29.2%, whereas Sensex was opened nominally higher at 79452.

Stock Market Opening Today

640 stocks were trading higher in the first minute of the Indian stock market's opening. Shri Ram Finance was down 6.6% after the company reported its Q4 results today. L&T Finance was down 8%. Reliance Industries Limited was trading in green after the December quarter results. M&M reacted positively to the acquisition. SBI Life, Hindalco, L&T, and other large-cap stocks were also trading in green.

Broadmarket Indices in Green

All the broad market indices were trading in green including Nifty 100, Nifty 200, Nifty 500, Nifty Midcap50, Nifty Midcap, Nifty SmallCap, etc. However, Nifty MicroCap emerged as the only exception as it was 0.08% lower.

Stock Market Recap

The thirty-membered benchmark index, BSE Sensex, ended the session 588.9 points down at 79,212.53 on Friday. While Nifty 50 fell by 207.35 points or 0.86% to end at 24,039.35. The decline in stock market in past few sessions has come after a period of recovery when the Indian bourses regained their April 2 levels, before US President Donald Trump's announcements. BSE Sensex gained over 2% in April and has recovered to its January level mark. Whereas, Nifty 50 has gained over 1.25% year to date (YTD).

Reviewing last week's trading session, Sameet Chavan, Head Research, Technical and Derivative - Angel One, said, "The week kicked off with a gap-up opening, pushing Nifty past the key 24000 mark. As the week progressed, the index continued its upward movement in a steady manner. However, on Friday, escalating geopolitical tensions between India and Pakistan triggered a sharp sell-off, wiping out the week's gains. Fortunately, bulls staged a bounce back in the latter half of the session, allowing Nifty to close with a modest weekly gain of 0.79%, just above the 24000 level."

"Given the strong uptrend, a time-wise correction seemed more probable, but the geopolitical uncertainty led to a sharper price correction instead. Despite this, the overall structure remains positive. By surpassing the February-March swing highs, Nifty has confirmed a strong bullish breakout on the charts. The breakout zone around 23900-23800 provided crucial support on Friday and continues to act as a key pivotal level. If geopolitical tensions escalate or this support is breached, a deeper correction towards the 23500-23300 zone could unfold. On the upside, while the broader trend remains bullish, immediate resistance is seen at 24250-24350.A move above this zone would confirm a continuation of the primary uptrend," noted Chavan.

Q4 Results Today

Several top firms, including Adani Green Energy, TVS Motor, Indian Railway Finance Corporation, Adani Total Gas, IDBI Bank, and UCO Bank. More than 45 companies will declare their Q4 earnings today. Aditya Birla Sun Life AMC, Nippon Life India Asset Management, Oberoi Realty, Castrol India, Enbee Trade & Finance, are other notable names on the list. Here are details about major companies set to release their Q4 earnings today.