Sensex Jumps 609 Points, Nifty Gains 182 | Rupee Hits Record Low Amid Crude Surge

Indian equity markets staged a strong comeback on Wednesday, April 29, 2026, with the BSE Sensex surging 609 points to close at 77,496.36, while the Nifty 50 climbed 182 points, driven by robust buying across auto, IT, and FMCG sectors.

Heavyweight stocks including Maruti Suzuki, ITC, Tech Mahindra, Mahindra & Mahindra, Reliance Industries, and Infosys led the rally, reflecting renewed investor confidence after the previous session's decline. Sectorally, most NSE indices ended in positive territory, with Nifty Auto emerging as the top gainer, while only metals and financial services lagged behind.

However, the bullish momentum in equities contrasted sharply with pressure on the currency front, as the Indian Rupee weakened to an all-time closing low of 94.86 against the US dollar, signalling concerns over external economic factors.

A key driver behind this depreciation is the sharp rise in global crude oil prices, with Brent crude crossing $110 per barrel amid strong demand and heightened geopolitical concerns around the Strait of Hormuz, a critical artery for global oil supply.

The surge in oil prices raises fears of increased import costs and inflationary pressure for India, which heavily depends on crude imports. Analysts note that while domestic equities are currently buoyed by sector-specific buying and market optimism, persistent weakness in the rupee and volatility in global commodities could weigh on investor sentiment in the coming days.