Market Wrap: Nifty and Sensex Surge Over 1% as Banks and Defense Sectors Lead the Rally

Market Overview

The Indian stock market concluded on a strong note on April 28, 2025, with both benchmark indices, Nifty 50 and BSE Sensex, posting significant gains of over 1%. The Nifty 50 closed at 24,328.50, up 289.15 points or 1.20% from its previous close. Similarly, the BSE Sensex finished at 80,218.37, registering a robust increase of 1,005.84 points or 1.27%.

Sectoral Performance

Top Performing Sectors

1. Aerospace & Defense (Avg. Per Change: 2.66%)
2. Banks (Avg. Per Change: 1.66%)
3. Petroleum Products (Avg. Per Change: 1.07%)
4. Insurance (Avg. Per Change: 1.06%)
5. Engineering Services (Avg. Per Change: 0.71%)

Underperforming Sectors

1. Aviation (Avg. Per Change: -1.50%)
2. Media (Avg. Per Change: -0.41%)
3. Transport Services (Avg. Per Change: -0.38%)
4. Telecom (Avg. Per Change: -0.33%)
5. Information Technology (Avg. Per Change: -0.29%)

Buzzing Stocks

1. Jayaswal Neco Industries Ltd emerged as the top gainer, surging 19.99% to close at ₹42.37. The company reported a significant increase in Q4 net profit to ₹1.02 billion, up from ₹20.3 million in the same quarter last year.

2. RBL Bank Ltd saw its stock price rise by 10.11% to ₹207.10, despite reporting an 80% drop in Q4 net profit to ₹68.7 crore. The bank's asset quality improved, and some brokerages upgraded their ratings citing improving business momentum.

3. Tejas Networks Ltd was among the top losers, plummeting 12.93% to ₹747.85. The company reported a Q4FY25 net loss of ₹71.8 crore, compared to a profit of ₹146.8 crore in Q4FY24, attributed to increased R&D investments and one-time charges.

4. Associated Alcohols & Breweries Ltd also saw a significant decline, falling 11.98% to ₹1,133.90. The company reported a lower consolidated net profit of ₹223 million for Q4, down from ₹814 million in the same quarter last year.

Market Breadth

The overall market breadth was slightly negative, with more stocks declining than advancing:

Conclusion

The Indian stock market ended the day on a positive note, with significant gains in the benchmark indices. The Aerospace & Defense and Banking sectors led the rally, while Aviation and Media sectors underperformed. Despite the overall positive sentiment, the market breadth remained slightly negative, indicating a mixed performance across the broader market.