Stock Market Outlook Today: Sensex, Nifty Surge | Top Stocks to Watch | April 29, 2025 📈
The Indian stock market continues its bullish momentum as both the Sensex and Nifty 50 witnessed impressive gains today, April 29, 2025. Positive corporate earnings, strong buying from institutional investors, and stable global cues are providing strong support to domestic equities.
Let’s take a detailed look at today’s market scenario, key drivers, and top stock recommendations for investors.
📊 Market Highlights
- Sensex opened sharply higher, crossing the 80,600 mark, up by over 400 points.
- Nifty 50 also surged above 24,450, building on Monday’s strong rally.
- On April 28, the Sensex closed at 80,218.37 (+1,005 points) and Nifty ended at 24,328.50 (+289 points).
Technical indicators suggest that Nifty's short-term outlook remains positive. A breakout above 24,400 could push the index towards resistance zones around 24,600–24,800.
🏦 Key Drivers Behind the Rally
1. Strong Institutional Buying
- Foreign Institutional Investors (FIIs) net bought shares worth ₹2,474 crore.
- Domestic Institutional Investors (DIIs) purchased stocks worth ₹2,817 crore.
2. Positive Corporate Earnings
- Heavyweights like Reliance Industries posted strong Q4 numbers, boosting overall sentiment.
- More key companies like Bajaj Finance, Ambuja Cements, and BPCL are expected to announce their earnings later today.
3. Sectoral Support
- Financials, Consumer Staples, Defense, and Healthcare sectors are driving the rally.
- Top funds are shifting focus to sectors that are less dependent on global demand, ensuring domestic resilience.
4. Global Cues
- Emerging markets, especially India, are holding firm while developed markets like the US are witnessing volatility.
- India's stable macroeconomic environment and pro-growth policies are attracting global investors.
| Index | Support Levels | Resistance Levels |
|---|---|---|
| Nifty 50 | 23,710 / 23,327 | 24,600 / 24,800 |
| Sensex | 79,800 / 79,500 | 80,500 / 80,700 |
- Nifty is showing strength, trading well above key trend lines.
- Sensex formed a long bullish candle on daily charts, indicating a sustained uptrend.
⭐ Top Stock Picks for Today
Here are some expert-recommended stocks you might consider for your portfolio:
| Stock | Action | Target Price | Stop Loss |
|---|---|---|---|
| Canara Bank | Buy | ₹109 | ₹95.50 |
| Bharat Forge | Buy | ₹1,257 | ₹1,090 |
| ABB India | Buy | ₹6,200 | ₹5,200 |
| Godrej Properties | Buy | ₹2,250 | ₹2,050 |
| NBCC India | Buy | ₹104 | ₹95 |
| Sun Pharma | Buy | ₹1,950 | ₹1,785 |
| Hindustan Aeronautics Ltd (HAL) | Buy | ₹4,350 | ₹4,050 |
| Indian Bank | Buy | ₹450 | ₹420 |
📢 Note: Always do your own research or consult with a financial advisor before investing.
🌐 Broader Global Perspective
- The MSCI Emerging Markets Index remains resilient.
- Indian equities continue to outperform amidst global uncertainties like US market volatility and geopolitical tensions.
📅 Important Events to Watch
- Q4 Earnings Announcements: Bajaj Finance, Ambuja Cements, Trent, BPCL, among others.
- Global market trends and US Fed commentary expected later this week.
📢 Conclusion
The Indian stock market is firmly in a bullish grip supported by institutional flows, strong corporate earnings, and sectoral rotation into domestic-focused industries. While short-term volatility may persist around key resistance levels, the broader trend remains positive.
Investors are advised to ride the momentum but remain cautious around profit-booking zones and global triggers.
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