1 week Ago By Moneycontrol
Sensex and Nifty rebounded over 1 percent in early trade on Monday in a holiday-shortened week amid a sharp rally in blue-chip stock Reliance Industries and the robust foreign inflows. A firm trend in global markets also propelled rally in the domestic equities. The BSE Sensex jumped 814.
56 points or 1.03 percent to 80,027.09, while the NSE Nifty rallied 237.
10 points or 0.99 percent to 24,276.45.
Here are the key factors behind the market rise today: 1) Buying in index heavyweight : Reliance Industries shares jumped 3 percent to emerge as the top gainer on the Nifty50 pack , after the Mukesh Ambani-led index heavyweight beat earnings estimates for the fiscal quarter ended March 31, 2025. The company's net profit attributable to shareholders grew 2.4 percent to Rs 19,407 crore for Q4 FY25, beating Street expectations, as a result of lower depreciation, interest and tax rate.
Revenue for the three months ended March 31 climbed 8.8 percent from a year ago to Rs 2.88 lakh crore, driven by company’s digital services, retail and oil-to-chemicals business.
Reliance Industries shares soar on Q4 profit 2) Easing fears of full scale India-Pak war : The investors seems to have shrugged-off fears of the rising geopolitical developments between India and Pakistan after the equity markets witnessed profit-taking in the previous two sessions due to escalating tensions following the death of 26 people in a terror attack on tourists at Pahalgam in Jammu and Kashmir. VK Vijayakumar, Chief Investment Strategist at Geojit Investments noted that going by the resilience of the market, it can be said that the market has not discounted a scenario of the tensions culminating in a war between the two countries. "It is important to remember that markets have an uncanny ability to surprise by climbing many walls of worries," he added.
3) Robust FII inflows : Foreign Institutional Investors (FIIs) bought equities worth Rs 2,952.33 crore on Friday. Foreign investors have infused Rs 17,425 crore in the country's equity markets last week, supported by a combination of favourable global cues and strong domestic macroeconomic fundamentals.
This came following a net investment of Rs 8,500 crore in the preceding holiday-truncated week ended April 18. "FIIs have turned sustained buyers in a dramatic reversal of their sustained selling strategy. This, in turn, is due to the relative under performance of US stocks, US bonds and dollar.
In an environment of weakening US economy and depreciating dollar FIIs may continue to buy providing support to the market," added VK Vijayakumar. 4) Positive global cues : In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225 and Hong Kong's Hang Seng were trading in the positive territory while Shanghai SSE Composite quoted lower. U.
S. stock markets rallied significantly, with all major indices posting substantial weekly gains as reports suggested easing trade tensions between the U.S.
and China. Potential agreements with other trading partners further bolstered market sentiment. What technical analysts suggest? Anand James, Chief Market Strategist at Geojit Investments noted that an evening star formation followed by Friday’s solid down move has unfolded at the top of a relentless up move that has been on since the 7th of April.
"Ideally this down move aims for the 23300-23050 region, with initial support seen near 23670. Meanwhile, the support offered by the March peak, from which a pullback was staged in the dying hours of Friday lends some hope for a quick resumption of uptrend, without a long-drawn correction. However, for this, Nifty needs to remain above 24190, in which case 24500-850 could come back into the horizon.
For opening trades, we will keep 23950-24070 as the key pivots," he added. Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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