Stock Market News: The headline indices snapped a losing streak on April 28 as the 30-share Sensex rallied 1,005.84 points or 1.27 per cent to close at 80,218.37 level. The Nifty 50 index also closed at 24,328.5 up by 289.15 points or 1.2 per cent.
Reliance Industries, Sun Pharma and JSW Steel Lead Gainers
Shares of Reliance Industries Ltd, Sun Pharmaceutical and JSW Steel gained the most among constituents of the Nifty 50 index as they ended higher by up to 5.07 per cent. On the other hand, shares of Shriram Finance, Eternal, Ultratech Cement, and HCL Technology emerged as the top drags among constituents of the Nifty 50 index as they closed lower by as much as 5.13 per cent. As many as 39 constituents of the index closed in the green while 11 stocks bucked the trend and closed in the red amid a broad-based rally.
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Most Major Sectoral Indices Rally
All major sectoral indices apart from the Nifty IT index closed in the green as the Nifty IT index closed lower by 0.22 per cent. On the other hand, sectoral indices such as the Nifty Oil & Gas ended higher by 3.18 per cent, and the Nifty Pharma index closed higher by 1.98 per cent. The Nifty MidCap 100 and the Nifty SmallCap 100 closed higher by as much as 1.62 per cent.
Global Markets
Wall Street indices such as the S&P 500, Dow Jones Industrial Average and Nasdaq Composite closed higher by as much as 1.26 per cent. At the time of writing European indices such as the FTSE 100, the CAC 40 and the DAX Performance index traded in the green up by as much as 0.49 per cent. Asian indices such as the Hang Seng and the Shanghai Composite traded lower by as much as 0.2 per cent. On the other hand, the Nikkei 225 traded higher by 0.38 per cent.
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Ather Energy IPO Opens For Subscription
Two new public issues opened for subscription on April 28. Ather Energy IPO garnered a tepid demand on the first day of bidding. The mainboard issue was booked 0.16 times on the first day of bidding. Iware Supply Chain Services IPO was booked 0.39 times on the first day of bidding.
Cues To Watch
Earlier today, Prime Minister Narendra Modi met Defence Minister Rajnath Singh to discuss possible next steps in the aftermath of the Pahalgam terror attack. Investors are closely tracking announcements from the Centre as tensions between the two countries escalate.
