Reliance fuels market surge: Sensex up 1,006 pts, Nifty above 24,300

The domestic share market indices, Sensex and Nifty, rallied over 1% at the start of the holiday-shortened week, as a rally in Reliance Industries and strong foreign inflows buoyed sentiment. Firm global cues also supported the domestic market rally.At close, the Sensex was up 1,005.84 points or 1.27 percent at 80,218.37, and the Nifty was up 289.15 points or 1.20 percent at 24,328.50. About 1877 shares advanced, 1961 shares declined, and 179 shares unchanged.
Reliance Industries, SBI Life, Bharat Electronics, Sun Pharma, JSW Steel were top gainers on the Nifty, while losers included Shriram Finance, HCL Technologies, Eternal, UltraTech Cement, HUL.On the sectoral front,except IT, all other indices ended in the green with metal, realty, oil & gas, pharma, PSU Bank up 1-3 percent.BSE Midcap index rose 1.3 percent, smallcap index added 0.4 percent.
Rupee Close:
On 28 April'25,the Indian rupee appreciated 38 paise to close at 85.03  against the US dollar on Monday, supported by sustained foreign fund inflows, easing crude oil prices and a bullish trend in domestic equities. Forex traders reportedly stated strong domestic fundamentals, such as rising forex reserves also boosted investor sentiments.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the domestic market recouped from the losses incurred during the last two days of the previous week, which stemmed from the border tensions. While sustained buying from FIIs and better results from RIL also boosted the investor sentiment. A weakening dollar and inflationary pressure in the US may attract FIIs into the domestic market. However, investors are advised to exercise caution in the near term as the market is yet to discount the impact of retaliation for the Pahalgam terror attack. For a new investor, holding a position on cash and debt of about 40% with a bottom-up approach on equity based on the earnings outcome will be a beneficial strategy.

(Business Correspondent)