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The Indian equity benchmarks staged a gap up opening and extended gains in opening deals on Wednesday, April 29, led by gains in Reliance Industries, Bharti Airtel, Infosys, Maruti Suzuki, Mahindra & Mahindra and ITC. The SENSEX rose as much as 695 points and NIFTY50 index touched an intraday high of 24,211.

Most of the Asian markets were trading higher as crude oil stabilized in international markets. China's Shanghai Composite advanced 0.11%, Hong Kong's Hang Seng gained 1.12% and South Korea's KOSPI gained 0.17%. Overnight, AI stocks and another climb in oil prices because of the Iran war helped pull Wall Street off its record heights on Tuesday, news agency AP reported. Dow Jones Industrial Average declined 0.05%, S&P 500 fell 0.5% and tech heavy Nasdaq dropped 0.9%. Back home, foreign institutional investors sold shares worth ₹2,103 crore on Tuesday while domestic institutional investors bought stocks worth ₹1,712 crore, as per NSE data. 13 of 15 sector gauges compiled by the National Stock Exchange (NSE) were trading higher led by the NIFTY Auto index's over 2% gain. NIFTY FMCG, IT, Realty, Bank, Financial Services and Private Bank indices also rose between 0.7% and 1.5%. On the flip side, media and metal indices were trading lower. Broader markets were trading in line with their larger peers as NIFTY Midcap 100 index rose 0.74% and NIFTY Smallcap 100 index advanced 0.7%. Among the individual shares, Garden Reach Shipbuilders shares rose as much as 16% to hit an intraday high of ₹3,339 after its net profit rose 24% to ₹303 crore in March quarter. Maruti Suzuki was top gainer in the NIFTY50 index, the stock rose 4.4% to ₹13,459 after the company on Tuesday reported a record annual consolidated net profit of ₹14,679.5 crore in FY26, a year-on-year (YoY) growth of 1.24%, riding on its best-ever annual sales of over 24.22 lakh units, propelled by the GST rate reduction. The company had posted a consolidated net profit of ₹14,500.2 crore in the previous fiscal, Maruti Suzuki India said in a regulatory filing. Mahindra & Mahindra, The Mahindra, Bharti Airtel, Reliance Industries, tata Motors Passenger Vehicles, ITC and Eicher Motors also rose between 2.4% and 3.2%. On the other hand, Dr Reddy's Labs, Asian Paints, Hindalco, JSW Steel and Axis Bank were notable gainers in the NIFTY50 index. The overall market breadth was positive as 2,036 shares were advancing while 957 were declining on the National Stock Exchange.