Indian Stock Market Today: Nifty and Sensex Rise, Top Stocks to Buy
The domestic benchmark indices, Nifty 50 and Sensex, opened higher on Monday, April 27, ending a recent decline, though disappointing quarterly results from conglomerate Reliance and Axis Bank, along with rising crude prices due to an Iran war crisis, capped the gains.
At 10:03 IST, the Nifty 50 rose by 0.73% to reach 24,076.60, while the BSE Sensex increased by 0.77% to hit 77,249.78.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
Indian equity benchmarks snapped a three-weeks winning streak to close in the red, pressured by escalating Middle East tensions and surging crude oil prices. The Nifty 50 ended the week at 23,897, marking a 1.90% decline.
Interestingly, broader markets displayed notable resilience; while mid-caps dipped a modest 0.8%, small-caps managed to remain flat. On the sectoral front, IT faced the heaviest selling pressure with a 10% slump, whereas Energy and Pharma emerged as the week’s outperformers.
Technical Outlook
The index opened the week on a positive note and witnessed profit booking around its long term 200-day EMA. The weekly price action resulted into bearish candle with long upper shadow, indicating selling pressure at elevated levels.
Index managed to hold its higher high-low structure for third-consecutive week. However, following a robust 11% rally, the market has entered a phase of healthy consolidation. Given that the weekly stochastic oscillator is currently in overbought territory (placed at 85), prolongation of ongoing consolidation cannot be ruled out in the upcoming truncated week.
Stocks to Buy This Week
Dharmesh Shah of ICICI Securities recommends buying JSW Steel Ltd and Power Grid Corporation of India Ltd.
Buy JSW Steel in the range of ₹1,240-1,266. He has JSW Steel share price target of ₹1,445 with a stop loss of ₹1,115.
Buy Power Grid in the range of ₹306-316. He has Power Grid share price target of ₹352 with a stop loss of ₹289.
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Disclaimer
The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 24/04/2026 or have no other financial interest and do not have any material conflict of interest.