Nifty 50 Extends Winning Streak to Third Day; Defence Index Hits All-Time High
Post Market Commentary: Indian frontline indices ended in the green with modest gains on Tuesday, after a two-day rally. The Nifty traded within a 167-point range, while India VIX saw a surge.
The BSE Sensex ended 70 points higher (+0.09%) at 80,288, slightly off from its day’s high. The Nifty 50 closed 7 points higher (+0.03%) at 24,336. The Nifty 50 gained 7 points (+0.03%) to settle at 24,336. Both indices opened strong, driven by optimism over a potential U.S. trade deal and ongoing foreign portfolio inflows. However, by the end of the day, most of the gains were pared, and the indices closed flat.
On Monday, foreign investors extended their longest buying streak since July 2023, driven by optimism surrounding a possible U.S. trade deal and corporate earnings. The buying spree by FIIs has helped the market overcome concerns about India-Pakistan tensions.
Over the past nine sessions, FPIs have invested approximately $4.11 billion into Indian equities, contributing to a 6.6% rise in the benchmark Nifty 50 index.
Shares of major defence-related companies surged over 5% following the finalisation of an agreement between India and France on Monday for the purchase of 26 Rafale-M fighter jets. The deal, valued at approximately ₹63,000 crore, sparked significant interest in defence stocks. Reacting to the news, the Nifty India Defence Index recorded a new all-time high and its highest intraday gains since inception.
Meanwhile, the Nifty Bank Index lost momentum, slipping 0.07% to close below the 55,400 mark.
The Nifty IT index jumped more than 1% in a day, emerging as the top-gaining sector and recording a monthly high.
At the close, the biggest contributors to Nifty 50’s gains were Reliance Industries (+45.08 points), Trent (+14.76 points), and Infosys (+12.65 points). Meanwhile, Kotak Mahindra Bank (-7.64 points), Sun Pharma (-9.87 points), and HDFC Bank (-23.88 points) pulled the index down.
The broader market indices ended higher, with the Mid-cap and Small-cap 100 indices gaining 0.27% and 0.37%, respectively, while 4 out of the 17 major sectoral indices ended in the green.
As of April 29, 2025, the Indian stock market showed a broadly positive market breadth. Out of 2,933 stocks traded on the NSE, 1,365 advanced, 1,478 declined, and 90 stayed unchanged.
A total of 33 stocks touched their 52-week highs, while 17 hit their 52-week lows. Additionally, 78 stocks were locked in their upper circuits, whereas 46 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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