Sensex Jumps Over 1,000 Points to Reclaim 80,000; Oil & Gas Index Sees Best Gain in 11 Months on Reliance Surge
Post Market Commentary: Bulls returned to Dalal Street on April 28, as Reliance Industries surged after posting strong March quarter results, while other heavyweights like SBI also lent support. The overall market mood remained upbeat, with midcap and smallcap indices mirroring the positive trend.
The BSE Sensex ended nearly 1,005 points higher (1.27%) at 80,218, reclaiming its important psychological 80,000 mark. The Nifty 50 rose 273 points (1.14%) to close at 24,312. During the day, it hit an intraday low of 24,054 and made a recovery to end near the day’s high, snapping a 2-day losing streak.
Reliance Industries' share price jumped 5.07%, logging its best single-day gain in about 10 months. Reliance Industries alone contributed about 99 points to the Nifty 50’s tally after the quarterly profit beat.
Meanwhile, Nifty Bank outperformed Nifty 50, registering gains of 1.41%, to close above 55,400.
Leading Monday’s rally was the Nifty Oil & Gas Index, which surged 3.2%—its sharpest single-day gain in about 11 months, as Reliance Industries added gains to the index.
Reliance Industries stock rose 5.07% to ₹1,366, logging its biggest one-day gain since June 2024 and closing at a 5-month high, leading gains on the Nifty Oil & Gas index. The index jumped more than 3.55% in a day, emerging as the top-gaining sector and recording its sharpest rally in about 11 months.
At the close, the biggest contributors to Nifty 50’s gains were Reliance Industries (+98.71 points), ICICI Bank (+36.2 points), and HDFC Bank (+16.48 points). Meanwhile, Eternal (-3.24 points), HCLTech (-6.61 points), and Shriram Finance (-10.4 points) pulled the index down.
The broader market indices also ended higher, with the Mid-cap and Small-cap 100 indices gaining 1.62% and 0.78%, respectively, while 16 out of the 17 major sectoral indices ended in the green.
As of April 28, 2025, the Indian stock market showed a broadly positive market breadth. Out of 2,992 stocks traded on the NSE, 1,532 advanced, 1,375 declined, and 85 stayed unchanged.
A total of 24 stocks touched their 52-week highs, while 28 hit their 52-week lows. Additionally, 67 stocks were locked in their upper circuits, whereas 88 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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