NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

Market Rallies Despite Uncertainties Over US-Iran Talks

On Wednesday, 29 April, the Indian stock market witnessed a significant rally, with the Sensex and the Nifty 50 indices jumping more than 1% during the session. This surge comes despite crude oil prices staying at higher levels and the rupee's weakness amid persisting uncertainties over the possible US-Iran talks.

Brent Crude prices traded above the $111 per barrel mark, while the Indian rupee declined by 13 paise to 94.81 per US dollar in early trade on Wednesday. The US-Iran peace talks remain stalled, and according to the Wall Street Journal, US President Donald Trump has instructed aides to prepare for an extended blockade of Iran.

Despite the persisting headwinds, the Nifty 50 jumped over 300 points, or more than 1%, to reach near the 24,300 mark in intraday trade. The 30-share pack Sensex jumped nearly 1,000 points to the day's high of 77,880.

Read also: Expert Portfolio Manager Raja Venkatraman Names Top Investment Picks for June 4

The most active stocks in terms of volume on the NSE were Vodafone Idea, Eternal, Jaiprakash Power Ventures (JP Power), Bandhan Bank, Suzlon Energy, YES Bank, Asian Granito India, Ola Electric Mobility, Reliance Power, and HCC.

StockVolume (in shares)Percentage Change
Vodafone Idea42 crore6%
Eternal12 crore5%
JP Power11 crore5%
Bandhan Bank7 crore13%
Suzlon7 crore1%

Some of the most traded stocks on the NSE also included Tata Gold Exchange Traded Fund, Billionbrains Garage Ventures (Groww), Adani Power, PC Jeweller, Orient Green Power Company, GTL Infrastructure, RattanIndia Power, IRM Energy, Tata Steel, and Emmvee Photovoltaic Power.

Vodafone Idea, Eternal, and JP Power were the top performers among the most traded stocks, with each stock extending gains for the third consecutive session. Vodafone Idea jumped 6% during the session, looking set to extend gains for the third consecutive session. In April, the stock has surged 22%. Eternal jumped 5% a day after the company said its consolidated net profit for Q4FY26 surged 346% year-on-year to ₹174 crore. Sequentially, it rose 70.58% from ₹102 crore in the December quarter. JP Power also jumped over 5% during the session, looking set to extend gains for the third consecutive session. The stock has jumped 45% in April so far.

Read also: MarketSmith India's 4 June Stock Recommendations

Bandhan Bank surged over 13% to hit its 52-week high of ₹202.39 on the NSE after reporting a 68% YoY jump in net profit to ₹534.14 crore for the March quarter. Suzlon Energy climbed more than 1% during the session, with the stock surging over 45% in April so far.

Investor Takeaway

Investors should be cautious of the market's volatility due to global uncertainties.

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