Opening Bell: Nifty50 Opens Strong Near 24,400; BSE Sensex Up By 200 Pts Despite Mixed Global Cues

The Indian stock market opened higher on Tuesday, April 29, as bulls continued their charge from the previous session.

The Nifty 50 index rose to 24,373.30, gaining 44.80 points or 0.18%, while the BSE Sensex up by 200 pts advanced to 80,459.23 despite subdued global cues.

Among the early gainers were Bajaj Finserv, HCL Technologies, IndusInd Bank, Mahindra & Mahindra (M&M), Hindustan Unilever (HUL), Bharti Airtel, HDFC Bank, NTPC, and Reliance Industries. On the flip side, ITC, Tech Mahindra, Tata Steel, Nestle India, ICICI Bank, and Power Grid Corporation were among the top laggards in early trade.

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Yesterday's Closing: Bulls Reign Supreme on Dalal Street
On Monday, April 28, Indian equities witnessed a stellar rally. The BSE Sensex surged 1,005.84 points or 1.27% to close at 80,218.37, while the Nifty 50 jumped 289.15 points or 1.20% to settle at 24,328.50.

The rally was spearheaded by heavyweights such as Reliance Industries, which climbed over 5%, and gains from Sun Pharma, Tata Steel, M&M, Axis Bank, and Tata Motors, each advancing around 2%.

However, pressure remained in the IT pack with TCS, Bajaj Finance, HUL, Nestle India, and HCL Technologies among notable losers.
 

Looking ahead, Sugandha Sachdeva, Founder of SS WealthStreet, noted, "The 24,350 mark remains a significant resistance zone for the headline index Nifty. A convincing break above the 24,350 level could open the door for a quick rally towards 24,800. However, if the Nifty fails to sustain above this level, a pullback towards 24,150 could be seen in the near term."

US Market: Cautious Trade Ahead of Big Tech Earnings
Overnight in the US, trading was mixed. The S&P 500 closed marginally higher by 0.06% at 5,528.75. The Nasdaq Composite slipped 0.1% to 17,366.13, while the Dow Jones Industrial Average added 114.09 points or 0.28%, ending at 40,227.59.

Investors remained cautious ahead of key earnings reports. Four members of the "Magnificent Seven" — Amazon, Apple, Meta Platforms, and Microsoft — faced mild selling pressure during the session.

Apple and Meta Platforms managed to end about 0.4% higher, while Microsoft dipped 0.2% and Amazon declined 0.7%.

Asian Markets: Mixed Start Amid Global Uncertainty
In Asia, markets were largely positive on Tuesday morning as investors tracked developments around US tariffs and awaited Wall Street’s economic signals.

Mainland China’s CSI 300 slipped 0.34% at the open, whereas Hong Kong’s Hang Seng Index rose 0.56%.

South Korea’s Kospi advanced 0.57% and the Kosdaq gained 0.77%, while Australia’s S&P/ASX 200 was up 0.58%.

Japan’s markets remained closed for a public holiday.
Market participants are closely monitoring trade negotiations involving the US and Asian economies, as well as fresh cues from the ongoing earnings season