Noida, Apr 29 (APAC Media): Indian equity benchmarks ended the session on a positive note on April 29, with the Nifty 50 closing above the 25,150 level, indicating steady buying interest across select sectors. At the closing bell, the Sensex rose 609.45 points, or 0.79 per percent, to settle at 77,496.36, while the Nifty gained 181.95 points, or 0.76 per cent, to close at 24,177.65.
The immediate support for Bank Nifty is placed in the 55,000–54,900 zone. A sustained break below this range could trigger further downside momentum, potentially dragging the index towards 54,600 and then 54,300 in the short term.
On the upside, the 55,900–56,000 zone is expected to act as a strong resistance level. A decisive move above this resistance band may be required for the index to regain bullish momentum and extend gains further.
The Indian rupee ended the trading session at its day’s low of 94.85 per US dollar on Wednesday, weakening from its previous close of 94.54 per dollar. The domestic currency remained under pressure through the session amid ongoing global uncertainty and demand for the US dollar from importers.
“Gold may not immediately surge to USD 5,000 as geopolitical tensions in West Asia continue to influence investor sentiment in the near term. However, the long-term outlook remains firmly bullish, supported by strong fundamentals, including sustained central bank demand, persistent inflationary pressures, and limited supply growth. While short-term volatility is inevitable, gold’s role as a safe-haven asset ensures it will continue to remain a key instrument for wealth preservation, with significant upside potential once global uncertainties begin to ease,” said Hareesh V, Head of Commodity Research at Geojit Investments.
The Democratic Republic of Congo’s economic growth is projected to rise to 6.2% this year, up from 5.8% last year, according to Central Bank Governor André Wameso, who made the announcement on Tuesday in Kinshasa.
Wameso also highlighted that the country’s foreign exchange reserves currently stand at $7.7 billion, providing a cushion against external economic pressures. Inflation has remained relatively contained, recorded at 2.36% over the past year, reflecting a degree of macroeconomic stability.
He further noted that the Congolese franc has held firm against the US dollar, which has helped limit the pass-through impact of rising global prices, particularly those linked to ongoing tensions in the Middle East. The stability of the currency has played a key role in containing inflationary pressures and supporting overall economic resilience.
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
Also Read:
Bandhan Bank Shares Jumps 9% After Strong Q4 Results; Profit Surges 68%, Asset Quality Improves
Discussion about this post