Sensex up 400 pts, Nifty Above 24,440 Amid Positive Cues

The Indian benchmark indices opened on a positive note today, April 29 on the back of positive global cues in the global equity markets. This comes after the trading session witnessed buying activity in PSU bank, auto and IT sectors in the early trade.

As of 9:25 am, Sensex was trading at 80,627.85, up 409.4 points or 0.51%, while Nifty jumped by 118.10 points or 0.49% at 24,446.60.

Nifty Bank shot up by 492.90 points or 0.89% at 55,925.70. The Nifty Midcap 100 was trading at 54,931.15, up 490.90 points or 0.43%. Nifty Smallcap 100 index soared by 183.15 points or 1.10% at 16,860.05.

“The charts of Bank Nifty indicate that it may get support at 55,300 followed by 55,000 and 54,700. If the index advances further, 55,600 would be the initial key resistance, followed by 55,900 and 56,200,” said Hardik Matalia from Choice Broking.

On the Sensex, shares of IndusInd Bank, Bajaj Finserv, Axis Bank, Tata Motors, M&M, Titan, SBI, Bajaj Finance, Eternal, Maruti Suzuki and Power Grid were the top gainers. Meanwhile, UltraTech Cement, Nestle India, Sun Pharma and Asian Paints were the top losers.

Among the Asian markets, China and Bangkok were trading on a negative note, while Jakarta, Seoul, Hong Kong and Japan markets cheered with gains.

Dow Jones gained by 0.28% to end at 40,227.59. S&P soared by 0.06% to 5,528.75, while Nasdaq fell by 0.10% at 17,366.13.

Foreign Institutional Investors (FIIs) bought shares worth ₹2,474.10 crore on April 28, denoting ninth consecutive session of inflows. Domestic institutional investors (DIIs) bought shares worth ₹2,817.64 crore on the same day.