Maruti, Eternal, Tata Motors Push Sensex 988 points Up at Midday; Nifty Reclaims 24,300 

Mumbai, April 29: Around noon, BSE Sensex rallied 987.79 points or 1.28% to 77,874.70 and Nifty50 traded 297.60 points or 1.24% higher at 24,293.30 at 12:14 pm. After gap-up opening at 9: 19 am with Sensex opening at 77,305 and Nifty opening at 24,099, Indian markets rallied strongly through noon session.

Sensex, Nifty Rebound Strongly: Top Gainers

Maruti Suzuki topped the gains’ list surging ₹496 or 3.85% from previous close of ₹12,892 to ₹13,388. Eternal ₹4.57 or 1.81% to ₹257.64 from previous close of ₹253.07. Tata Motors (TMPV) ₹5.80 or 1.65% to ₹356.60 against previous close of ₹350.80. Eicher Motors ₹99.50 or 1.41% to ₹7,171. Bharti Airtel ₹24.10 or 1.31% to ₹1,867.90 from previous close of ₹1,843.80.

Laggards

Hindalco was the top loser on the Sensex, plunging ₹15.15 or 1.41% to ₹1,059.15 against previous close of ₹1,074.30. Dr. Reddy dropped ₹14.40 or 1.06% to ₹1,340.20 against its previous close of ₹1,354.60. JSW Steel ₹11.90 or 0.93% to ₹1,269.70. ICICI Bank ₹9.70 or 0.75% to ₹1,282.30. Axis Bank ₹9.10 or 0.71% to ₹1,279.90 from previous close of ₹1,289.

Broad Markets

Nifty Smallcap 100 added 1.18% to 18,188.80. Nifty 500 gained 1.03% to 23,000.05. Nifty Midcap 100 rose 0.77% to 60,887.

Sectoral Indices

Sectoral indices rallied on the Nifty with Auto Sector powering the broader market rally. Nifty Auto gained 2.28% to 26,379.35. Nifty FMCG rose 1.93% to 51,862.55. Nifty Realty jumped 2.18% to 811.15. Nifty IT increased by 1.45% to 29,378.80.

Asian, US Markets

Asian markets ended with a mixed picture — Hong Kong’s Hang Seng rose 1.26% to 26,002.76 while Malaysia’s KLCI edged up by 0.23%. Japan’s Nikkei ended down 1.02% to 59,917.46, Indonesia’s JSX fell 0.48%, Pakistan’s KSE 100 dropped 0.64%. US Markets closed lower overnight — Nasdaq fell 0.90%, S&P 500 declined 0.49% while Dow Jones shed 0.05%.

Oil Prices

Oil prices rebound on Wednesday on reports US to extend port blockade of Iran. Brent crude surged for eighth straight session on Wednesday by 0.47% to $111.78 a barrel while US’ WTI crude increased by 0.57% to $100.50 a barrel after surging by 3.7% in previous session. US crude has risen in seven of the last eight sessions. Oil prices remain near 14-year highs — rising supply risks due to the crisis in Ukraine — pressure India’s import bill.

Middle East Conflict

Tensions over the two-month-old war in Iran failed to ease on Tuesday with diplomatic efforts at a stalemate. Trump took to Truth Social on Tuesday morning to say Iran had called the US and said they were in a “State of Collapse” and want the Strait of Hormuz reopened as soon as possible. This comes as Tehran’s new offer aims to put off nuclear talks until after a ceasefire has been reached – something Trump has categorically ruled out. With Iran’s supreme leader Ayatollah Khamenei killed on day 1 of the war power is now in the hands of the Islamic Revolutionary Guard Corps who don’t have a single voice to negotiate a deal with.

Separately, UAE oil minister announced the UAE will officially leave OPEC+ next month on May 1 after almost six decades as a member, cutting supply of 3-4 million barrels per day from the grouping.

Sources:

• https://www.nseindia.com/market-data/top-gainers-losers
• https://www.nseindia.com/market-data/live-market-indices
• https://www.reuters.com/world/asia-pacific/irans-guards-seize-wartime-power-blunting-supreme-leaders-role-2026-04-28/
• https://www.reuters.com/business/energy/oil-rises-reports-us-will-extend-iran-blockade-prolonging-mideast-supply-2026-04-29/
• https://www.reuters.com/business/energy/uae-exit-weakens-opec-power-over-oil-market-group-stay-together-sources-say-2026-04-28/