SENSEX climbs over 1,050 points, NIFTY50 firm above 24,300; Here are key factors behind the surge

The Indian equity benchmarks extended gains in noon deals on Wednesday, April 29. The SENSEX rose as much as 1,087 points and NIFTY50 index was firm above 24,300 as investor sentiment remained positive on the back of fourth quarter earnings while crude oil prices remained stable in global markets.

As of 12:46pm, the SENSEX was up 1,067 points at 77,953 and NIFTY50 index advanced 321 points to 24,316.

Strong Q4 earnings

Investor sentiment got a boost after the country's largest car maker, Maruti Suzuki, post earnings announcement said that it has earmarked a record capital expenditure of ₹14,000 crore for FY27, as it gears up to add capacity to meet rising demand.

The two lines to be added at Kharkhoda (Haryana) and Hansalpur (Gujarat), with a total production capacity of 5 lakh units annually, will help the company meet demand, especially for small cars, he said in an earnings call, while also ruling out any drastic impact on demand in India due to the West Asia war.

"Capex for this year (FY27) is estimated to be around ₹14,000 crore. As we have said, this is the highest in any of the past years. This higher capex is because we are continuing to install units in Kharkhoda. We are starting work on a new site in Gujarat, and therefore, the capex has gone up because of these new investments in manufacturing capacity," Chairman R C Bhargava said.

In another development, the country's leading tyre maker Ceat reported over two-fold jump in consolidated net profit at ₹243.8 crore in the fourth quarter ended March 2026, riding on robust growth and brushing aside concerns over surging crude prices.

The company posted a consolidated net profit of ₹98.71 crore in the corresponding quarter of the preceding fiscal, CEAT Ltd said in a regulatory filing.

Consolidated revenue from operations in the latest fourth quarter stood at ₹4,218.89 crore as compared to ₹3,420.62 crore in the year-ago period, it added.

Star Health insurance, the leading private sector life insurer said that its net profit surge multi-fold jump to ₹111 crore in fourth quarter of financial year 2025-26.

The standalone health insurer posted a net profit of ₹50 lakh during the same quarter of the previous year.

Bandhan Bank reported a 68% year-on-year jump in net profit for the quarter ended March to ₹534 crore, driven largely by strong performance in its retail banking and treasury segments, along with improved asset quality.

Retail banking registered a profit of around ₹434 crore in the quarter, a sharp turnaround from losses in the preceding quarters and the year-ago period.

Heavyweights rally

Index heavyweights like Reliance Industries, Bharti Airtel, ITC, Larsen & Toubro, Infosys and Mahindra & Mahindra were top movers in the SENSEX they alone contributed over 500 points towards gain in the SENSEX.

Sectoral landscape

Buying was visible across board as all the major sector gauges compiled by the National Stock Exchange (NSE) were trading higher led by the NIFTY Auto index's over 2% gain. NIFTY Bank, FMCG, IT, PSU Bank, Realty and Oil & Gas indices also rose between 1.25% and 2.5%.

Broader markets were also witnessing buying interest as NIFTY Midcap 100 index advanced 0.8% and NIFTY Smallcap 100 index climbed 1.15%.

NIFTY50 top gainers and losers

Maruti Suzuki was top gainer in the NIFTY50 index, the stock rose 4.34% to ₹13,452.

ITC, tech Mahindra, Coal India, Mahindra & Mahindra, Eicher Motors, Hindustan Unilever, Bharti Airtel and Larsen & Toubro also rose between 2.14% and 3.7%.

On the flip side, Dr Reddy's Labs, Apollo Hospitals, interGlobe Aviation, JSW Steel, ICICI Bank and NTPC were notable losers in the NIFTY50 index.

The overall market breadth was extremely positive as 2,066 shares were advancing while 1,120 were declining on the NSE.