Market Wrap: Indian Equities Extend Gains Amid Robust Earnin

Indian equities demonstrated remarkable resilience today, April 29, 2026, extending their bull run amidst a flurry of strong Q4 corporate earnings. The Nifty continued its upward trajectory, contributing to India's smallcap segment recording its best monthly performance in over a decade, while largecaps like Adani Green, Adani Power, and Nestle India soared to new 52-week peaks. This bullish sentiment was largely fueled by impressive financial results from key players.

Vedanta [VEDL] emerged as a top performer, reporting a stunning 92% surge in Q4 FY26 consolidated profit and a 47% jump in revenue, sparking renewed analyst interest in its demerger plans aimed at unlocking value. Adani Power also shone brightly, with its Q4 net profit jumping 52% to ₹4,017 crore. The financial sector saw strong starts to FY25, with Bajaj Finance [BAJFINANCE] posting a 22% profit growth in Q4 and declaring a ₹6 dividend, while Indian Bank [INDIANB] registered a robust 5% profit growth and an ₹18.25 dividend. Gains were also evident in GRSE and CEAT, driven by their Q4 performances.

However, the day wasn't without its challenges. The Rupee hit a new record low of ₹94.85 against the USD, primarily influenced by a significant surge in crude oil prices past $115 per barrel. This oil surge, coupled with US Fed uncertainty, weighed heavily on Indian bonds. HDFC Securities remained optimistic on select counters, issuing an 'Accumulate' call for Oil India [OIL] and Reliance [RELIANCE] in anticipation of gains. Bandhan Bank [BANDHANBNK] also outlined ambitious FY27 targets, signaling a focus on asset quality turnaround. Meanwhile, MakeMyTrip confirmed its intentions for a domestic listing by 2027, eyeing the Indian capital markets.

Looking ahead, global cues will play a pivotal role in shaping tomorrow's market sentiment. US markets are bracing for a dual impact from forthcoming Fed decisions and critical tech earnings from global giants, which are expected to set the tone for AI and cloud growth. European markets, having retreated today due to earnings scrutiny and geopolitical tensions, add to the cautious global backdrop. Investors will closely monitor crude oil prices and the Rupee's movement, alongside ongoing domestic Q4 earnings. While long-term warnings like Robert Kiyosaki's 'Great Depression'-style crash by 2027 might sound an alarm, the immediate focus remains on earnings and global policy signals.

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