Closing Bell: Nifty closes above 24,100 | Maruti, ITC shine

29 Apr 2026 , 04:59 PM

The Indian benchmark indices ended higher on April 29, 2026, with Nifty reclaiming the 24,100 mark and Sensex surging over 600 points to close at 77,496. Strong buying in auto and FMCG stocks drove the recovery, with Maruti Suzuki, ITC, and Coal India leading the charge.  

Market Overview: Nifty, Sensex, and Bank Nifty Performance 

• Nifty 50 closed at 24177.65, up 181.95 points (0.76%) 

• Sensex ended at 77,496.36, up 609.45 points (0.79%) 

• Nifty Bank settled at 55,403.60, up 3.25 points (0.01%) 

Top Gainers  

1. Maruti Suzuki India Limited-  

• Closed at ₹13,494.00, up 4.67%  

• Shares of Maruti Suzuki India Limited rose over 4% after strong Q4 FY26 updates.  

• SUV Strategy Working: Strong demand for SUVs like Brezza, Grand Vitara, and Fronx improved average selling price (ASP).  

• Attractive Dividend: Announced a final dividend of ₹140 per share, boosting investor sentiment.  

2. Tech Mahindra LTD–  

• Closed at ₹1,454.60, up 3.30%  

• Shares of Tech Mahindra rose over 3% amid strong buying interest.  

• Revenue & Margins: Revenue came in at ₹15,076 crore (above estimates), while EBIT margin improved to 13.8%, indicating better efficiency. 

• Dividend & Outlook: Announced ₹36 final dividend (₹51 total FY26 payout), while AI initiatives and sectoral rally added to positive sentiment. 

3. ITC Limited–  

• Closed at ₹316.25, up 3.88%  

• Shares of ITC Limited rose over 4% amid strong buying interest.  

• Price Hike Trigger: Reports of a 17% increase in cigarette prices from May 2026 boosted sentiment. 

• High Volumes: Stock saw heavy buying for the third straight session, indicating strong investor interest. 

• Sector Support: Positive momentum in the FMCG sector also supported the up move. 

4. Coal India Limited–  

• Closed at ₹483.30, up 3.49% 

• Strong Q4 Results: Net profit rose 11% YoY to ₹10,839 crore, while revenue increased 5.8% to ₹46,490 crore.  

• Better Profitability: EBITDA grew 12%, supported by improved price realisations.  

• Dividend Boost: Declared a final dividend of ₹5.25 per share, attracting investors.  

• 52-Week High: Stock hit around ₹485, showing strong market momentum.  

• Positive Outlook: Rising power demand and expansion in coking coal capacity support future growth. 

 

Top Losers  

• Dr. Reddy’s Laboratories Ltd-
  • Closed at ₹1,327.70, up 1.99%  Shares of Dr. Reddy’s Laboratories declined amid weak sentiment.  
  • Brokerage Caution: Global firms like Goldman Sachs and Citigroup flagged limited growth visibility and valuation concerns. 
  • Regulatory Setback: Received a Non-Compliance Notice (NON) in Canada for its semaglutide injection, delaying launch. 
  • Pricing Pressure: Ongoing price erosion in US generics market is impacting the margins

• INDIGO –
  • Closed at 4,340.00 down by 2.31%
  • Rising costs of ATF Fuel amid rising crude oil prices have hammered investor sentiment across airline operating companies
•  NTPC –
  • Closed at 400.10 down by 1.66%

Currency Market –

The Indian Rupee has continued to weaken against the US Dollar, with USD/INR rising to around 94.85. This depreciation reflects persistent pressure on the currency due to both global and domestic factors. Sentiment in currency markets has also been affected by geopolitical developments. Reports that US President Donald Trump has directed aides to prepare for a prolonged blockade of Iran have raised concerns over potential disruptions in oil supply routes through the Strait of Hormuz, a critical global energy chokepoint.

 

Sectoral Performance 

Auto:  

• Maruti Suzuki surged over 4% after guiding for 10% domestic volume growth in FY27, lifting the entire auto sector.  

• Company reported its highest-ever quarterly sales of 6,76,209 units in Q4 FY26 and declared a ₹140/share dividend boosting investor confidence.  

• Union Minister Nitin Gadkari’s push for electric vehicles further boosted stocks focused on EV alternatives.  

• Strong SUV and passenger vehicle demand kept the overall sector outlook positive  

 

FMCG:   

• Expectations of a good monsoon and rural income recovery are boosting consumption outlook for everyday goods companies.  

• Investors moved funds from uncertain sectors like IT into safe, stable FMCG stocks a classic defensive rotation.  

• HUL, Nestlé, and Marico led the rally with steady volume growth and strong pricing power. 

 

Summary– 

April 29, 2026, reflected a positive and recovery-driven market trend: 

• Auto and FMCG stocks led the rally, supported by strong Q4 earnings, demand optimism, and defensive buying
• IT stocks gained, driven by better-than-expected results and strong deal momentum (e.g., Tech Mahindra)
• Energy stock like Coal India performed well, backed by strong profitability, dividends, and positive outlook

With Nifty rising 181.95 points (+0.76%) and Sensex gaining 609.45 points (+0.79%), market sentiment improved significantly, supported by strong earnings, sectoral momentum, and broad-based buying.