Sensex, Nifty 50 | Stock Market Highlights: Sensex ends 639 points higher, Nifty around 24,100; Sun Pharma share up 7%

Markets witnessed a strong rebound on Monday amid mixed cues, snapping the recent losing streak. The benchmark opened gap-up, tracking favourable indications from global markets, and maintained a positive tone throughout the session. It eventually settled near the day’s high at 24,092.70, up 0.81%.

The recovery was broad-based, with pharma, realty, and IT leading the gains, while financials remained relatively subdued. Broader markets outperformed the benchmarks, with midcap and smallcap indices advancing around 1.5–2%, indicating improved risk appetite and market breadth.

The upmove was primarily driven by a rebound in beaten-down heavyweights across sectors, particularly Reliance, along with positive developments such as a sharp rally in pharma majors following global acquisition news. Additionally, optimism around potential progress in US–Iran negotiations supported global sentiment, even as crude oil prices remained elevated.

Going ahead, with the Nifty reclaiming its short-term moving average (20 DEMA) near the 23,950 level ahead of the monthly derivatives expiry, sustaining above this mark will be crucial. A continued hold could enable the index to regain strength and gradually move towards the 24,600–24,800 zone.

However, any failure to maintain this level may lead to a resumption of the decline, with the next key support placed around 23,500. We continue to advocate a stock-specific approach, focusing on sectors and themes showing strength—particularly energy, metals, capital markets, and pharma—while closely tracking earnings developments and geopolitical cues for further direction."

Vinod Nair, Head of Research, Geojit Investments, explained:

"Investor sentiment improved on renewed prospects for the resumption of U.S.–Iran talks, coupled with stronger-than-expected Q4 FY26 earnings. Although oil prices remain above $100 per barrel and markets continue to assess the room for the opening of the Strait of Hormuz, domestic-oriented sectors—particularly Banking, FMCG, capital goods, consumer discretionary, and manufacturing-related businesses—supported the recovery.

Meanwhile, the IT sector, though reporting subdued results, attracted investor interest due to valuation comfort and long-term accumulation strategies. Inflation risks remain a key concern, and market participants are expected to closely monitor the upcoming Fed's policy announcement, particularly its medium-term interest rate trajectory."

India’s largest cement maker, UltraTech Cement, announced its financial results for the March quarter on Monday, April 27, surpassing market expectations on most fronts. The company also announced its highest-ever dividend payout for shareholders.

The earnings were announced during the market hours on Monday. UltraTech Cement shares were marginally trading lower, down 0.04% to ₹11,959 apiece. The cement maker reported a 21.2% year-on-year (YoY) rise in its net profit, rising to ₹3,011 crore in the quarter ending on March 31, 2026, from ₹2,484 crore in the same period last year.

Revenue from operations for the January–March 2026 quarter rose 12% YoY to ₹25,799 crore, according to the exchange filing.

Meanwhile, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter rose 21.3% YoY to ₹5,600.5 crore.

Rupee traded marginally stronger near 94.16 (+0.07%), as markets reacted to early signs of de-escalation in the US–Iran conflict, with proposals around reopening the Strait of Hormuz and extending the ceasefire supporting sentiment. The recovery remains cautious, as clarity is still evolving and markets continue to price in both escalation and resolution scenarios.

Going ahead, rupee direction will largely depend on US dollar movement and FII flows, while the upcoming Fed policy decision will be a key trigger for global currency trends. In the near term, rupee is expected to trade in a range of 93.75–94.50, with volatility likely to remain elevated, said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Sensex ended 639 points higher at 77,304, while the Nifty 50 settled 195 points higher at 24,093.

Extending its upward momentum, shares of Suzlon Energy gained another 6.6% in Monday's intraday trade, 27 April, to hit a four-month high of ₹57.48 apiece, as the wind energy player continued to attract aggressive buying, with the Street now pointing to a combination of operational, seasonal and geopolitical triggers behind the move. The rally has also lifted the stock’s April gains to a massive 45% and puts it on track to snap a five-month losing streak, during which it had declined 33%.

According to analysts, wind power has emerged as an unintended beneficiary of the ongoing Middle East crisis, which has tightened global energy supply and boosted the appeal of alternative energy sources.

JM Financial has described Suzlon as an “unintended beneficiary” of the ongoing Iran-US conflict. The brokerage said that in an El Nino year, peak power demand during hot and humid evenings is similar to solar-hour demand; hence, there is greater stress on supply at night when 80 GW of solar generation is unavailable.

Shares of Aye Finance Ltd gained momentum after the micro-enterprise lender reported a sharp rise in Q4FY26 earnings, marking its first full-year audited results since listing in February 2026.

Net profit for the March quarter more than doubled to ₹86 crore. The stock surged to a 52-week high of ₹150.49 on the NSE and was trading at ₹140.15, up 3.91% from the previous close of ₹134.87, with heavy volumes of 43.69 lakh shares worth ₹62.51 crore.

For FY26, the Gurugram-based NBFC reported profit after tax of ₹194 crore, up 13% YoY, on total revenues of ₹1,797 crore. Annual disbursements grew 20%, with 2,06,833 new borrowers added, while overall profit growth remained moderated due to higher costs linked to new labour regulations.

One MobiKwik Systems share price rallied over 16% on Monday, 27 April, after it announced the Reserve Bank of India's (RBI) approval to launch a non-banking finance company (NBFC).

The stock opened at ₹205.15 apiece today, as compared to the previous close of ₹202.22 on Friday last week, and hit the day's high of ₹241.90 on the BSE. The sharp spike likely reflects investor optimism about potential new revenue streams and growth opportunities. In an exchange filing this afternoon, Mobikwik said that the NBFC licence will facilitate the launch of a new lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary.

Bitcoin edged higher on Monday, continuing its gradual move toward the $80,000 mark, as investors assessed recent tensions between the US and Iran over the Strait of Hormuz.

The world’s largest cryptocurrency rose as much as 1.6% to $79,488—its highest level since January 31, when it last traded around $80,000—and was hovering around $79,100. Meanwhile, Ether, the second-largest digital asset, climbed 1.7%.

Bitcoin has gained 16% so far in April, positioning it for its first double-digit monthly rise since May 2025, according to Bloomberg. Read more

Emerging market stocks touched record highs while currencies edged up on Monday, largely driven by Asian markets that rallied on renewed enthusiasm for artificial intelligence, while stalled U.S.-Iran talks pushed oil prices higher.

MSCI's gauge of global EM stocks advanced 1.3%, after marking their fourth consecutive week of gains on Friday.

The rise on Monday was largely led by Asian bourses, as investors bought into a revived appetite for AI ahead of earnings from U.S. big tech companies this week.

Equities in South Korea and Taiwan climbed 2.2% and 1.8%, respectively, hitting record highs, and were headed for their best month in more than three decades. (Reuters)

Shares of RBL Bank slipped around 5% on Monday after its Q4FY26 results, even as net profit more than tripled to ₹230 crore from ₹69 crore a year ago.

The sharp earnings growth was overshadowed by margin pressure, with net interest margin (NIM) declining to 4.41%, the lowest in five quarters, compared to 4.63% in Q3 and 4.89% a year earlier. Net interest income rose 7% YoY to ₹1,671 crore, while operating profit increased 11% to ₹955 crore.

Asset quality improved, with GNPA easing to 1.45% and NNPA to 0.39%. However, return on assets remained flat at 0.55%.

The bank also announced a dividend of ₹1 per share. Managing Director R Subramaniakumar said the West Asia crisis has not materially impacted the bank so far.

Shares of Aurobindo Pharma are in focus as its ₹800 crore share buyback, opened on April 23, remains available for eligible shareholders till April 29, with analysts flagging short-term opportunity.

The company plans to repurchase 54.23 lakh shares (0.93% of equity) at ₹1,475 per share, a premium of over 4% to the previous closing price of ₹1,413.80. The buyback is being conducted via the tender route.

Retail investors have been given relatively favourable terms, with an entitlement of 7 shares for every 61 shares held, compared to 2 shares for every 249 shares in the general category. Final acceptance, however, will depend on overall participation.

Shareholders holding the stock as of the April 17 record date are eligible, with offer documents dispatched on April 21.

Shares of Mahindra & Mahindra Financial Services rallied 10% to ₹325 on Monday after the company reported a strong Q4FY26 performance, driven by robust growth and margin expansion.

Standalone net profit rose 55% YoY to ₹873 crore, supported by steady business momentum and disciplined cost control. AUM grew 12% YoY, while disbursements increased 11%.

Margins improved sharply, with NIM expanding by 101 basis points to 7.5%, aided by better yields and lower funding costs. Credit costs remained stable at 1.5%.

For FY26, profit after tax rose 19% YoY to ₹2,782 crore. Disbursements grew 6%, while asset quality stayed within guidance, with GS3 at 3.4% and GS2+GS3 at 8.2%, reflecting stable risk metrics.

Pepsico’s bottling partner Varun Beverages, on Monday, April 27 announced their results for the quarter ended March 2026, wherein the company reported a consolidated net profit of ₹872.3 crore, which is up by 20% YoY. Meanwhile, the revenue from operations rose by 18.3% YoY.

The company’s revenue from operations stood at ₹6,721 crore, up from ₹5,680 crore reported in the corresponding quarter of the previous financial year.

The firm has also announced an interim dividend of ₹0.50 per share, fixing Friday, May 1 as the record date for determining the shareholder eligibility.

For the quarter ended March, Varun Beverages revenue (ex-excise) rose 18% year-on-year to ₹6,574 crore. EBITDA increased 21% to ₹1,528.7 crore compared to ₹1,264 crore in the year-ago period, indicating strong operating leverage.

Shares of InterGlobe Aviation recovered over 1% from early losses on Monday, 27 April, even as UBS downgraded the stock to “neutral” from “buy”. The brokerage also cut its target price for the stock to ₹4,940 from ₹5,480, citing rising headwinds for the aviation sector.

IndiGo started the day on a flat note but in the red. However, it later recovered 1.4% to its day's high of ₹4571.

According to a CNBC-TV18 report, UBS flagged rising volatility in the airline sector as jet fuel prices nearly doubled amid the US-Iran conflict. The brokerage also pointed to early demand fatigue, with passenger traffic weakening due to fare hikes, and trimmed growth assumptions. While IndiGo remains better positioned than peers due to strong liquidity and scale, UBS believes its recent outperformance looks stretched amid rising costs and currency headwinds. Read more

Shares of Hindustan Zinc gained up to 4.63% to ₹615.75 on Monday after the company reported strong Q4FY26 results, driven by higher production and improved margins.

Net profit surged 68% YoY to ₹5,033 crore, while revenue rose 49% to ₹13,544 crore. EBITDA climbed 61% to a record ₹7,747 crore, with margins expanding to 57%.

Operational performance remained robust, with mined metal output at a record 315 kt and refined metal production at 282 kt. Cost of production fell 9% YoY to $903 per tonne, while silver output rose 11% sequentially to 176 tonnes.

The company also announced an interim dividend of ₹11 per share (550%), amounting to ₹4,648 crore. The record date has been set for April 30.