Stock market today: Experts are expecting a flat-to-positive opening for the Indian stock market, as the Gift Nifty live chart signals a constructive start during the Opening Bell.(An AI-generated image)AI Quick ReadStock market today, 29 April 2026: Witnessing a highly volatile session, the key benchmark indices of the Indian stock market finished lower on Friday, the monthly derivatives expiry day. The Nifty 50 index went off 97 points and closed at 23,995. The BSE Sensex lost 416 points and ended at 76,886. The Bank Nifty index crashed 863 points or 1.54% and finished at 55,400.
Sectorally, the trend remained mixed—energy, metals, and select pharma stocks lent support, while banking, auto, and financials faced notable pressure. Broader markets showed resilience, with midcap and smallcap indices advancing nearly half a per cent each, indicating selective participation.
The Gift Nifty live index is trading flat since early morning deals. The index opened lower at 24,075 and made an intraday low of 24,072 within a few minutes. However, the index bounced back, reaching an intraday high of 24,128.
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is cautious but expects a flat opening on Wednesday, as the Gift Nifty index is signalling a flat-to-positive opening.
However, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, expects a positive opening today.
“Indian markets are poised to open on a constructive note, with the Gift Nifty indicating a positive start around the 24,110 mark. The signal suggests early resilience in domestic equities, even as global cues remain mixed and somewhat fragile,” said Hariprasad K of Liveliong Wealth.
Overnight, US markets pulled back, with both the S&P 500 and the Nasdaq Composite closing lower after retreating from recent record highs. The decline was largely driven by weakness in the technology sector, following concerns about growth expectations in the AI segment. This has introduced a layer of caution in global risk sentiment, particularly for tech-heavy indices.
Asian markets are reflecting this uncertainty with a mixed opening. Investors are balancing the impact of softer US cues with fresh developments in the energy space.
According to the news agency AFP, the US central bank is widely expected to keep interest rates unchanged at its policy meeting next week, as energy prices stay high and supply chains are snarled due to the war in the Middle East.
The Federal Reserve's two-day meeting, starting Tuesday, could be Chairman Jerome Powell's last at the helm of the independent institution.
But it takes place against a tricky backdrop. Powell's likely successor — Trump's nominee, Kevin Warsh — has faced a bumpy road to confirmation, while policymakers battle competing pressures as steeper fuel prices drive inflation and job-market worries linger.
The US Fed officials are set to keep rates steady in a range of 3.50% to 3.75%, extending their pause since the start of the year.
"We still have a very high level of uncertainty on what's happening in the Middle East," KPMG senior economist Kenneth Kim told AFP.
Following developments among OPEC members, crude oil prices rose in the early morning session on Wednesday. WTI crude oil prices regained the psychological $100/bbl level, inching close to a three-week high. The WTI crude oil price today opened flat, but soon gained momentum, reaching an intraday high of $100.36/bbl. The Brent crude oil price also hit an intraday high of $104.97/bbl, rising more than 1.25% against the intraday low of $103.68 per barrel.
The COMEX gold rate today is trading flat at around $4,615 per ounce, whereas the COMEX silver rate today is around $73.720/oz, logging an intraday gain of over 0.50%.
From a domestic standpoint, volatility indicators suggest a relatively stable yet sensitive setup. India VIX has moderated to around 18 levels, indicating that while extreme fear has receded, the market still carries a premium for uncertainty. Any sustained bullish momentum could further ease volatility, improving risk appetite and compressing option premiums.
Notably, the decision by the Organization of the Petroleum Exporting Countries (OPEC) to see the exit of the United Arab Emirates (UAE) from May 1 adds a new dimension to the global oil supply outlook. Such shifts within major producer alliances could influence crude price stability in the near term, keeping energy markets in focus.
Regional politics are also likely at play. The UAE has had increasingly frosty relations with Saudi Arabia, OPEC's largest producer, over political and economic matters in the Mideast, even after both came under attack by fellow OPEC member Iran during the war.
Earnings will remain the key driver for stock-specific action. The spotlight is firmly on Bajaj Finance, widely seen as a critical domestic trigger for today’s session. A strong performance could help offset global concerns and support financials. Other important results include Federal Bank, Adani Power, and Vedanta Limited, which are expected to drive sector-specific momentum.
Vedanta also remains in focus from a corporate action standpoint, with today marking the final opportunity for investors to be eligible for its demerger benefits before the stock turns ex-demerger. This could lead to heightened activity and positioning in the counter.
The underlying pressure persists in the banking space. The recent implementation of the Reserve Bank of India Expected Credit Loss framework continues to weigh on PSU banks, as higher provisioning requirements may impact near-term profitability and capital adequacy.
Speaking on the outlook of the Nifty 50 and Sensex today, Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, "We believe the intraday market structure is non-directional; therefore, level-based trading would be the best strategy for day traders. On the upside, 24,210/77500 will act as an immediate resistance zone for traders."
The Kotak Securities expert said that as long as the market trades below this level, weak sentiment is likely to continue. This correction could extend towards the 20-day SMA or 23,725–23,650/76300–76200. Conversely, a move above 24,210/77500 could reverse sentiment. Above this level, the market could bounce back towards 24,400-24,500/78100-78400.
On the outlook for the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index closed weakly, forming a bearish candlestick below its immediate swing support, indicating sustained selling pressure. Momentum indicators also remain weak, with RSI showing a bearish crossover and hovering below key levels.
“This setup suggests a slightly negative short-term outlook. The index is likely to drift towards its 20-day moving average, placed near the 54,800 zone. Going ahead, the index may continue to trade with a bearish bias, with support seen at 55,000 levels, while resistance is placed around the 55,800 zone,” said Vatsal Bhuva of LKP Securities.
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: Aditya Birla Real Estate, MCX, GRSE, HAL, IRFC, MOIL, OIL, and Mishra Dhatu.
1] Aditya Birla Real Estate: Buy at ₹1511, Target ₹1617, Stop Loss ₹1458; and
2] MCX: Buy at ₹2898, Target ₹3102, Stop Loss ₹2796.
3] GRSE: Buy at ₹2875, Target ₹3000, Stop Loss ₹2825;
4] HAL: Buy at ₹4341, Target ₹4430, Stop Loss ₹4300; and
5] IRFC: Buy at ₹105, Target ₹115, Stop Loss ₹100.
6] MOIL: Buy at ₹332, Target ₹350, Stop Loss ₹324;
7] OIL: Buy at ₹497, Target ₹525, Stop Loss ₹486; and
8] Mishra Dhatu: Buy at ₹393, Target ₹415, Stop Loss ₹384
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).