Weekly Update- 30 April 2026

NIFTY50

Nifty closed the week at 23,998, gaining 100 points (+0.42%). It was a short week with four trading sessions. The week began on a positive note, with the index showing initial strength, but some profit booking emerged toward the end, leading to a slight fade in gains on the last day. Despite this, the index managed to close in positive territory, indicating underlying resilience. Looking ahead, state election results on Monday are likely to influence market sentiment. For the coming week, key support is placed around 23,500, while resistance lies near 24,400, with the overall view remaining buy on dips with controlled risk.

BANKNIFTY

Bank Nifty closed the week at 54,863, declining 2.19%. It was a short week with four trading sessions. The week began on a positive note, but the index gradually lost momentum and faced selling pressure toward the end, leading to a weaker close. Despite initial strength, the overall sentiment turned cautious in the latter part of the week. Looking ahead, state election results on Monday are likely to influence market direction. For the coming week, key support is placed around 52,800, while resistance lies near 56,100, with the overall view remaining cautious with a buy-on-dips approach near support levels.

TOP GAINING SECTOR

NIFTY OIL GAS was top gainer sector for the week

Major gainers were:-

CHENNPETRO:- up by 9.02%

RELIANCE:- up by 7.76%

ONGC:- up by 5.18%

OIL:- up by 3.61%

TOP LOSING SECTOR

NIFTY PSUBANKS was top losing sector for the week

Major losers were:-

UNIONBANK:- down by 6.25%

CANBK:- down by 4.4%

PNB:- down by 3.3%

SBIN:- down by 2.97%

IMPORTANT NEWS

• Kotak Mahindra Bank reported a 13.4% rise in PAT (profit after tax), with shares in focus on the outlook. Avenue Supermarts (DMart) missed some estimates despite a 19% revenue/profit rise

• The Indian rupee is under pressure, falling to near 95 against the dollar. Brent crude prices spiked temporarily to near $120, fueling inflation concerns.

• The government notified 100% FDI in the insurance sector. Mazagon Dock acquired Colombo Dockyard for ₹452 crore.

• The S&P 500 and Nasdaq reached record highs, fueled by strong corporate earnings.

• IndiGo and SpiceJet will be in focus this week as fuel prices remain unchanged for domestic carriers despite a spike in global Brent crude.