Share Market Today: Nifty 50 Rebounds to 24,177 | Bank Nifty Analysis & Key Support Levels

April 29, 2026

Indian Stock Market Today | The Indian share market staged a sharp recovery on April 29, 2026, marking a strong start to the May series. While the benchmark indices trimmed some gains due to late-session profit-booking, the Nifty 50 managed to close at 24,177.65, up 0.76%.

Simultaneously, the BSE Sensex surged by 609 points to end at 77,496.36. However, the Nifty Bank index lagged behind the benchmark, ending nearly flat at 55,404.

Market Breadth & Midcap Performance

The broader market presented a mixed picture. While the Nifty Smallcap 100 gained 0.65%, the Nifty Midcap 100 ended marginally lower.

This divergence was reflected in a neutral 1:1 Advance-Decline ratio on the NSE, indicating that while headline indices rose, the underlying market sentiment remains selective.

Rupee Hits Record Lows Amid $115 Brent Crude

The Indian Rupee (INR) remains under intense pressure, closing near an all-time low of 94.85 against the US Dollar.

This weakness is primarily driven by a volatile energy market, where Brent Crude has surged to $115 per barrel. Energy supply concerns are escalating globally due to two critical factors:

• OPEC Instability: The United Arab Emirates’ shock decision to exit OPEC (effective May 1).
• Geopolitical Friction: Reports of a potential U.S. blockade of Iranian ports, threatening prolonged supply disruptions.

India-New Zealand FTA 2026: New Trade Opportunities

A significant long-term driver for the domestic economy is the newly signed India-New Zealand Free Trade Agreement (FTA).

This landmark deal provides duty-free access to over 8,000 Indian products and is projected to trigger a $20 billion investment surge, bolstering trade and job creation.

Economic Data: IIP Growth Slows to 5-Month Low

Domestic industrial momentum is showing signs of cooling. India’s Index of Industrial Production (IIP) growth decelerated to 4.1% in March.

This slowdown is attributed to subdued manufacturing and flat expansion in the power sector, exacerbated by the ongoing West Asia crisis.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 101.20 points higher at 24,096.90, reached a high of 24,334.70 and closed at 24,177.65.

The index formed a bullish candle with an upper shadow, indicating a positive trend with selling pressure at higher levels.

• Immediate Support: 24,060
• Immediate Resistance: 24,250

BANK NIFTY: Opened 234.15 points higher at 55,634.50, reached a high of 56,178.75 and closed at 55,403.60.

The index formed a small bearish candle with a noticeable upper wick and a small lower wick, highlighting its continued inability to hold higher levels.

• Immediate Support: 55,000
• Immediate Resistance: 55,700

Market Analysis: Key Nifty Indices

Sector Performance

Nifty Top Gainers & Losers

Top Trending Stocks Today

• Greenply Industries: Stock surged ~12% after Q4 profit jumped 86% YoY to ₹30.7 crore, while revenue grew 20% YoY to ₹776.2 crore.
• Bandhan Bank: Stock rallied 11% as Q4 profit rose 68% YoY to ₹534.1 crore, with net interest income up 1.4% YoY to ₹2,795.6 crore.
• Garden Reach Shipbuilders: Stock gained ~7% after net profit increased 24% YoY to ₹303.2 crore, while revenue climbed 29% YoY to ₹2,119.2 crore.

Global Trends & Commodity Update

• Asian Equities: Ended mixed as investors stayed cautious amid global growth concerns.
• European Shares: Edged lower, with risk sentiment subdued ahead of key economic data and corporate earnings.
• Crude Oil Prices: Rose ~3%, with Brent Crude hitting a one-month high on reports that the U.S. may extend its blockade of Iranian ports, raising concerns over prolonged supply disruptions from the Middle East.
• Gold Prices: Slipped, as rising oil prices heightened inflation worries, while investors awaited cues from Jerome Powell on the future trajectory of interest rates.

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