{"id":11458,"date":"2026-04-29T13:08:21","date_gmt":"2026-04-29T13:08:21","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=11458"},"modified":"2026-04-29T13:08:22","modified_gmt":"2026-04-29T13:08:22","slug":"india-market-outlook-29-april-2026","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/india-market-outlook-29-april-2026\/","title":{"rendered":"India Market Outlook – 29\u00a0April\u00a02026"},"content":{"rendered":"
\"nifty<\/figure>\n\n\n

Market snapshot<\/h2>\n\n\n\n
Index<\/th>Last close<\/th>Change*<\/th>Change %*<\/th><\/tr><\/thead>
Nifty 50<\/strong><\/td>24,177.65<\/strong><\/td>+181.95<\/td>+0.76 %<\/td><\/tr>
BSE Sensex<\/strong><\/td>77,496.36<\/strong><\/td>+609.45<\/td>+0.79 %<\/td><\/tr>
Nifty Bank<\/strong><\/td>~55,400<\/td>\u2013870<\/td>\u20131.54 %<\/td><\/tr>
Nifty Midcap<\/strong><\/td>little changed<\/td>\u22120.07 %<\/td>\u2013<\/td><\/tr>
Nifty Smallcap 100<\/strong><\/td>positive<\/td>+0.65 %<\/td>\u2013<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*Change compared with the previous trading session.<\/p>\n\n\n\n

The market staged a sharp rebound on Wednesday. After opening with healthy gains and briefly jumping over 1 %, the Nifty 50 settled at 24,177.65 (+0.76 %), while the Sensex finished at 77,496.36 (+0.79 %). Intraday, the Nifty climbed as high as 24,334.70 but surrendered part of the rally as crude\u2011oil prices spiked to fresh highs. The Bank Nifty underperformed, slipping around 1.5 % as financials lost ground. Market breadth was broadly balanced \u2013 of the 3,394 stocks traded on the NSE, 1,626 advanced, 1,667 declined and 101 closed unchanged. Volatility remained contained with the India VIX inching below 18.<\/p>\n\n\n\n

Sectoral performance<\/h2>\n\n\n\n

Seven of the eleven major Nifty sector indices finished in the green. Auto stocks led the rally:<\/strong> the Nifty Auto index jumped about 2\u00bd %<\/strong> as Maruti Suzuki\u2019s strong results fuelled buying. FMCG<\/strong> stocks delivered a 1.75 %<\/strong> gain and hit a two\u2011month high, supported by defensive buying and steady consumption demand. IT, Realty, Oil & Gas, Bank<\/strong>, Financial Services<\/strong>, and Private Bank<\/strong> indices rose between 0.7 %<\/strong> and 1.5 %<\/strong>. In contrast, Media<\/strong> and Metal<\/strong> indices slipped, reflecting cautious sentiment in cyclical sectors. The Nifty Midcap index edged lower by 0.07 %<\/strong>, while the Nifty Smallcap 100 outperformed with a 0.65 %<\/strong> rise. The small\u2011cap index has rallied more than 19 % in April, its best monthly performance since mid\u20112014.<\/p>\n\n\n\n

Key statistics and flows<\/h2>\n\n\n\n
    \n
  • Market breadth:<\/strong> 1,626 stocks advanced, 1,667 declined and 101 were unchanged.<\/li>\n\n\n\n
  • 52\u2011week highs\/lows:<\/strong> 139 stocks hit new 52\u2011week highs while 18 touched fresh lows. Around 106 stocks were locked in the upper\u2011circuit versus 57 in the lower\u2011circuit.<\/li>\n\n\n\n
  • Volatility:<\/strong> India\u00a0VIX fell below 18, indicating relatively calm sentiment despite geopolitical uncertainties.<\/li>\n\n\n\n
  • Institutional flows:<\/strong> Foreign institutional investors (FIIs) sold about \u20b92,103\u00a0crore<\/strong> worth of equities on Tuesday, while domestic institutional investors (DIIs) bought \u20b91,712\u00a0crore<\/strong>, cushioning the market.<\/li>\n<\/ul>\n\n\n\n

    Top gainers and losers – Nifty\u00a050 (close values)<\/h2>\n\n\n\n
    Top gainers<\/th>Last (\u20b9)<\/th>Change (\u20b9)<\/th>Change %<\/th>Notes<\/th><\/tr><\/thead>
    Maruti Suzuki<\/strong><\/td>13,459<\/td>+499<\/td>+4.4 %<\/strong><\/td>Record annual profit and strong Q4 results; auto index leader<\/td><\/tr>
    Tech Mahindra<\/strong><\/td>1,458.5<\/td>+50.4<\/td>+3.6 %<\/strong><\/td>Strong earnings outlook in IT; benefited from tech\u2011sector rebound<\/td><\/tr>
    Coal India<\/strong><\/td>~408<\/td>+13.9<\/td>+3.5 %<\/strong><\/td>Gains on higher coal price realisation and improving volumes<\/td><\/tr>
    ITC<\/strong><\/td>316.1<\/td>+11.7<\/td>+3.8 %<\/strong><\/td>FMCG heavyweight continued its rally on defensive buying<\/td><\/tr>
    Eicher Motors<\/strong><\/td>3,700<\/td>+109<\/td>+3.0 %<\/strong><\/td>Auto stock gained on upbeat two\u2011wheeler sales and demand outlook<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    Top losers<\/th>Last (\u20b9)<\/th>Change (\u20b9)<\/th>Change %<\/th>Notes<\/th><\/tr><\/thead>
    Dr Reddy\u2019s Lab<\/strong><\/td>~6,330<\/td>\u221240<\/td>\u22120.63 %<\/strong><\/td>Profit\u2011taking after recent pharma rally<\/td><\/tr>
    InterGlobe Aviation (IndiGo)<\/strong><\/td>4,340<\/td>\u221215<\/td>\u22120.36 %<\/strong><\/td>Fell as rising oil prices may pressure aviation margins<\/td><\/tr>
    NTPC<\/strong><\/td>322<\/td>\u22120.2<\/td>\u22120.07 %<\/strong><\/td>Minor decline amid profit\u2011booking in utilities<\/td><\/tr>
    ICICI Bank<\/strong><\/td>1,038<\/td>\u22125<\/td>\u22120.5 %<\/strong><\/td>Financials dragged by rising funding\u2011cost worries<\/td><\/tr>
    HDFC Bank<\/strong><\/td>1,604<\/td>\u22126.5<\/td>\u22120.4 %<\/strong><\/td>Weakness in banking stocks kept Bank Nifty under pressure<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Prices are rounded and approximate; percentage changes are based on closing data.<\/em><\/p>\n\n\n\n

    What moved the market<\/h2>\n\n\n\n

    Earnings optimism:<\/strong> A flurry of Q4 results helped underpin sentiment. Maruti Suzuki reported record profits and best\u2011ever annual vehicle sales, sending the stock up more than 4 %. CEAT<\/strong> rallied about 12 %<\/strong> after posting a 145 % jump in quarterly net profit and announcing a \u20b935 per\u2011share dividend. Eternal<\/strong>, the parent of Zomato and Blinkit, surged almost 5 %<\/strong> after its consolidated net profit leapt to \u20b9174 crore. Garden Reach Shipbuilders<\/strong>, Bandhan Bank<\/strong>, Netweb Technologies<\/strong>, and Emmvee Photovoltaic Power<\/strong> also posted robust earnings and attracted strong investor interest.<\/p>\n\n\n\n

    Oil shock and Middle\u2011East tension:<\/strong> Brent crude futures rallied above US$111 per barrel<\/strong>, the eighth straight session of gains, after reports that the United States plans to extend its blockade of Iranian ports. Talks between the US and Iran over shipping access remain stalemated, and the United Arab Emirates\u2019 decision to quit OPEC heightened concerns about supply. The elevated oil price tempered intraday gains and weighed on airlines and other oil\u2011sensitive sectors.<\/p>\n\n\n\n

    Macro\u2011policy cues:<\/strong> Investors remained cautious ahead of the US Federal Reserve\u2019s policy decision<\/strong> later tonight. Market expectations are for a hold on rates, but traders will scrutinise commentary for signals on rate\u2011cut timing amid global inflationary pressure. The Bank of Japan earlier left rates unchanged, and its governor signalled a cautious outlook.<\/p>\n\n\n\n

    Geopolitical and domestic political developments:<\/strong> The ongoing West\u2011Asia conflict and closure of the Strait of Hormuz continue to disrupt oil supplies. Indian markets also looked to state\u2011election exit\u2011polls scheduled for the evening, which could influence near\u2011term sentiment.<\/p>\n\n\n\n

    Stocks and themes to watch<\/h2>\n\n\n\n
      \n
    • CEAT (tyres):<\/strong> Shares surged over 12\u00a0% after the company\u2019s Q4 net profit rose sharply and a higher dividend was announced. The tyre maker reported revenue of \u20b94,219\u00a0crore (up 23\u00a0% YoY) and an EBITDA margin of 14.2\u00a0%. Traders may monitor follow\u2011through buying and any commentary from management.<\/li>\n\n\n\n
    • Eternal (Zomato\/Blinkit parent):<\/strong> Posted a 346\u00a0%<\/strong> YoY jump in consolidated profit to \u20b9174\u00a0crore. Blinkit\u2019s rapid commerce net order value grew 95\u00a0%, and management guides for more than 60\u00a0% compounded growth over the next three years. Watch the stock for momentum plays and post\u2011earnings downgrades or upgrades.<\/li>\n\n\n\n
    • Bandhan\u00a0Bank:<\/strong> Rallied ~14\u00a0% intraday on strong results and dividend announcement; analysts remain cautious on asset\u2011quality trends.<\/li>\n\n\n\n
    • Garden\u00a0Reach\u00a0Shipbuilders & Engineers (GRSE):<\/strong> Up about 14\u00a0% after a 24\u00a0% rise in Q4 profit and a final dividend proposal; defence stocks may remain in focus.<\/li>\n\n\n\n
    • Maruti\u00a0Suzuki and other auto majors (M&M, Eicher Motors, Tata Motors):<\/strong> Auto sales data and commentary on demand trends could drive further moves.<\/li>\n\n\n\n
    • IT stocks such as Tech\u00a0Mahindra:<\/strong> Gains were boosted by positive earnings expectations; however, global tech cues remain mixed.<\/li>\n<\/ul>\n\n\n\n

      Corporate updates<\/h2>\n\n\n\n
        \n
      • CEAT<\/strong> reported a 145\u00a0% YoY surge in consolidated net profit to \u20b9243.85\u00a0crore, revenue growth of over 23\u00a0%, and a proposed \u20b935 per\u2011share dividend (350\u00a0% of face value).<\/li>\n\n\n\n
      • Eternal<\/strong> (Zomato\/Blinkit) posted a 346\u00a0% YoY jump in Q4 net profit to \u20b9174\u00a0crore, with revenue rising 196\u00a0% due to a change in accounting treatment for its quick\u2011commerce business. Blinkit\u2019s net order value increased 95\u00a0% YoY, and the company added 216 new stores during the quarter. Management guided for Blinkit\u2019s NOV to grow over 60\u00a0% annually for the next three years.<\/li>\n\n\n\n
      • Bandhan\u00a0Bank<\/strong> reported net profit of \u20b9534\u00a0crore, up 68\u00a0% YoY, and declared a \u20b91.50 per\u2011share dividend.<\/li>\n\n\n\n
      • Garden\u00a0Reach Shipbuilders<\/strong> announced a net profit increase of 24\u00a0% YoY to \u20b9303\u00a0crore and proposed a final dividend of \u20b96.70 per share.<\/li>\n\n\n\n
      • CEAT<\/strong> and GRSE<\/strong> results highlight strong order books in the auto and defence segments, while Eternal<\/strong>\u2019s numbers signal improving unit economics in quick commerce.<\/li>\n<\/ul>\n\n\n\n

        Outlook for Thursday (30 April 2026)<\/h2>\n\n\n\n

        Market tone:<\/strong> After Wednesday\u2019s rebound, momentum is likely to be cautious. The spike in crude\u2011oil prices, continuing West\u2011Asia tensions and key global central\u2011bank meetings could keep volatility elevated. A hawkish tone from the US Federal Reserve or unfavourable exit\u2011poll results could spark profit\u2011booking. On the other hand, further positive earnings and strong domestic inflows may lend support on declines.<\/p>\n\n\n\n

        Technical levels:<\/strong><\/p>\n\n\n\n

          \n
        • Nifty\u00a050:<\/strong> Immediate support lies in the 24,000\u201324,050<\/strong> zone. A decisive break below this band could open the door to 23,850\u201323,650<\/strong> levels. On the upside, the index faces resistance around 24,200\u201324,250<\/strong>; a sustained move above this region may lead to 24,350\u201324,470<\/strong>. The Nifty\u2019s hourly charts show long lower wicks, suggesting buyers continue to emerge on dips, but a close above 24,200 is needed to restore bullish momentum.<\/li>\n\n\n\n
        • Bank\u00a0Nifty:<\/strong> Underperformed on Wednesday and closed around 55,400<\/strong>. Support is seen at 54,900\u201354,800<\/strong>; a break may drag the index to 54,400\u201354,000<\/strong>. Resistance lies in the 55,900\u201356,000<\/strong> zone; only a close above 56,475 would open room for 57,000\u201357,500<\/strong>.<\/li>\n\n\n\n
        • Market tone for Thursday:<\/strong> Expect a range\u2011bound to slightly negative bias<\/strong> with a focus on global cues (Fed decision, crude\u2011oil movement) and domestic exit\u2011poll developments. Investors may remain stock\u2011specific, emphasising companies delivering strong earnings. Fresh long positions should be taken selectively on dips, while trailing stop\u2011losses are advisable given heightened global uncertainty.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

          Market snapshot Index Last close Change* Change %* Nifty 50 24,177.65 +181.95 +0.76 % BSE Sensex 77,496.36 +609.45 +0.79 % Nifty Bank ~55,400 \u2013870 \u20131.54 % Nifty Midcap little changed \u22120.07 % \u2013 Nifty Smallcap 100 positive +0.65 % \u2013 *Change compared with the previous trading session. The market staged a sharp rebound on Wednesday. After opening with healthy gains and briefly jumping over 1 %, the Nifty 50 […]<\/p>\n","protected":false},"author":3,"featured_media":8209,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[512],"tags":[],"class_list":["post-11458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=11458"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11458\/revisions"}],"predecessor-version":[{"id":11459,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/11458\/revisions\/11459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/8209"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=11458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=11458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=11458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}