Indian Stock Market Today: Sensex Rebounds 400 Points, Nifty Reclaims 24,000 After IT-Led Crash

After three straight sessions of losses — its worst losing streak since early March — the Indian stock market tried to find its footing on Monday, April 27. The BSE Sensex climbed around 400 points in morning trade to hover near the 77,100 zone, while the Nifty 50 pushed above 24,000, gaining roughly 0.4% from Friday's battered close.

This came after a brutal week. On Friday, the Sensex crashed nearly 1,000 points to close at 76,664. The Nifty shed 275 points to settle at 23,897 — falling below 24,000 for the first time since March 2026. The IT sector was the main villain, with the Nifty IT index collapsing 5.29% in a single session. Infosys fell 7%, HCL Tech nearly 6%, and TechMahindra took its own beating — all following Infosys's conservative revenue guidance of just 1.5 to 3.5% constant currency growth for FY27.

Also Read: Six Days of Gains, Two Days of Blood — Indian Markets End a Turbulent Week

What's driving Monday's bounce?

Partly global — Asia-Pacific markets advanced after reports emerged that Iran had submitted a fresh proposal to the US through Pakistani mediators, aimed at reopening the Strait of Hormuz. Any hint of de-escalation in West Asia sends risk assets higher. Crude oil also eased slightly from the 06 per barrel level, which gave some breathing room to energy-sensitive sectors.

Domestically, Monday's session was also front-loaded with quarterly results. Varun Beverages, Coal India, UltraTech Cement, AU Small Finance Bank, Bajaj Housing Finance, and SBI Cards all reported on the same day — giving the market fresh data to work with rather than sitting in a news vacuum.

Also Read: IDFC First Bank Q4 FY26 Results: The Numbers Are In, and the Story Is More Complicated Than the Headline

What technical analysts are saying

HDFC Securities analyst Nagaraj Shetti noted that the Nifty had broken below the 10-day and 20-day EMA on Friday, filling a gap from April 15. He flagged the next significant support at 23,500 in the short term. Centrum Finverse VP Nilesh Jain said the 38.2% Fibonacci retracement level around 23,690 could be tested this expiry week, and that India VIX — which rose 15% over the past week to close near 20 — needed to cool down for bulls to feel confident.

The Bank Nifty closed Friday at 56,089 and is trading in the 55,500–57,500 range. Analysts from Master Capital Services say as long as the index holds above the 54,600–55,000 zone, the "buy on dips" approach remains valid.

What's weighing on sentiment

The structural issues haven't gone away. JP Morgan downgraded Indian equities from "overweight" to "neutral" last week, citing high valuations and earnings headwinds linked to the energy shock from the Iran war. Brent crude holding above 00–106 per barrel is feeding inflation concerns. The rupee hit a five-session low of Rs 94.25 against the dollar on Friday, adding currency headwinds for FII flows.

TCS reported its first annual revenue dip in over 20 years. Pharma and FMCG held up better than IT, and analysts are now suggesting a selective rotation toward defensive sectors — energy, metals, FMCG — while keeping IT exposure light until the guidance cycle turns more optimistic.

Moody's also cut India's FY27 GDP forecast to 6%, citing weak consumption, slower industrial activity, and rising energy costs. The Index of Eight Core Industries contracted 0.4% year-on-year in March — fertilisers, coal, crude oil, and electricity all showed weakness.

What to watch this week

The US Federal Reserve's policy decision on Wednesday is the global event everyone is tracking. The Bank of Japan and ECB also meet this week. Rate commentary from the Fed — especially if it signals a longer hold — will influence the dollar index, which in turn shapes FII activity in India.

For retail investors: avoid chasing the Monday bounce without clarity. The market is in a technically weak structure, macro headwinds are real, and earnings season is still unfolding. Quality stocks in FMCG, pharma, and energy remain preferred until the IT sector finds stable ground.

FAQs

Q: Why is the Indian stock market rising today?
A: The market is rising due to positive global cues, easing crude oil prices, and fresh earnings announcements, although underlying risks remain.

Q: Is this a good time to invest in the stock market?
A: Analysts suggest caution as the market remains volatile, with macroeconomic concerns and weak IT sector outlook still impacting sentiment.