Prime End of the Day Summary: View on Market Performance 29 April 2026

Nifty kicked off the May series on a strong note, rising 181 points to close at 24,177 after a brief correction in the previous session. The index opened over 100 points higher and surged to an intraday high of 24,337 during the morning session before afternoon profit-taking erased nearly 192 points from the peak.

ITC, Tech Mahindra, and Reliance Industries led the gains, providing strong support to the index. On the downside, IndiGo, Dr. Reddy’s Laboratories, and NTPC faced selling pressure and ended as the top laggards of the day.

Sectoral performance remained mixed, with FMCG, Realty, and Auto stocks outperforming, while Media, PSU Banks, and Consumer Durables lagged.

Broader markets showed a divergent trend, as the Nifty Midcap 100 slipped 0.10 percent, while the Nifty Smallcap 100 advanced 0.65 percent. Market breadth turned marginally positive, with the advance-decline ratio at 1.01, indicating selective buying following selective profit booking in the previous session.

The Indian rupee depreciated by 30 paise to close at a record low, pressured by rising crude oil prices and a strengthening US dollar. Tight domestic liquidity, driven by higher importer demand and limited supply, along with the central bank staying on the sidelines, further weighed on the currency.

Technically, the Nifty decisively moved above the key 50 DEMA resistance at 24,195 during the session, but afternoon profit booking pushed the index back below this level by the close. Immediate support is placed at 23,800, while the day’s high of 24,334 now acts as the immediate resistance.