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Markets Extend Gains as IT, Oil & Gas Stocks Rally

Updated: April 29, 2025 15:06

Image Source : Moneycontrol
Indian stock markets continued their upward momentum, with Sensex and Nifty edging higher as IT, oil & gas, and banking stocks fueled the rally. Midcap and smallcap indices outperformed, reflecting strong investor sentiment across broader market segments.  
 
The Sensex climbed over 1,100 points, crossing the 80,000 mark during intraday trade, while the Nifty surged past 24,350. Reliance Industries, ICICI Bank, Tata Steel, and Sun Pharmaceuticals emerged as top gainers, contributing to the market’s positive trajectory.  
 
Banking stocks led the charge, with the Bank Nifty index gaining over 2 percent, driven by strong performances from HDFC Bank and Axis Bank. Oil & gas stocks also saw significant buying interest, supported by favorable global crude price trends.  
 
Midcap and smallcap indices mirrored the broader market’s strength, posting gains of 1.2 and 0.8 percent, respectively. Analysts attribute the rally to robust Q4 earnings, easing inflation concerns, and renewed foreign institutional investor participation.  
 
Market analysts suggest that the bullish trend could continue, with technical indicators pointing to further upside potential. Investors are closely watching upcoming corporate earnings reports and global trade developments for cues on market direction.  
 
Key market movements:  
 
- Sensex crosses 80,000, Nifty surges past 24,350 amid strong sectoral performance  
- IT, oil & gas, and banking stocks drive gains, with Bank Nifty rising over 2 percent  
- Midcap and smallcap indices outperform, reflecting broader market strength  
- Reliance Industries, ICICI Bank, Tata Steel, and Sun Pharmaceuticals among top gainers  
- Analysts anticipate continued momentum, supported by Q4 earnings and easing inflation  
 
Sources: Moneycontrol, Business Standard, MSN Money, Economic Times

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