Frontline indices, the Sensex and the Nifty 50, extended their gains for the fourth consecutive session on Thursday, April 17, amid across-the-board buying and easing concerns over the impact of the ongoing trade war on the Indian economy.
Sensex closed 1,509 points, or 1.96 per cent, higher at 78,553.20, while the Nifty 50 settled with a gain of 414 points, or 1.77 per cent, at 23,851.65. The mid and small-cap segments underperformed as the BSE Midcap and Smallcap indices ended 0.56 per cent and 0.52 per cent higher, respectively.
Investors earned over ₹4 crore in a day as the overall market capitalisation of BSE-listed firms rose to over ₹419 lakh crore from ₹415 lakh crore in the previous session.
Indian stock market: key highlights
Let’s take a look at 10 key highlights of the stock market today:
1. Why did the Indian stock market rise for the fourth consecutive session?
Easing concerns over trade war, improving macroeconomic outlook of the country and fresh foreign capital inflow are driving the stock market.
“A strong rally in large-cap stocks was observed today, primarily driven by financials, amid expectations of improved margins stemming from changes in savings deposit interest rates,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“Positive sentiment was further supported by a reversal in FII flows, although the sustainability of this trend remains uncertain. Nonetheless, optimism surrounding the domestic market persists, bolstered by the expectation of a favourable outcome from US-India trade negotiations and a relatively minimal disruption from the US-China trade tensions. Additionally, a moderating inflation trajectory towards more comfortable levels is further enhancing market sentiment,” Nair said.
2. Top Nifty 50 gainers today
Eternal (earlier Zomato), Sun Pharmaceutical Industries and ICICI Bank ended as the top gainers in the Nifty 50 index. As many as 43 stocks ended higher in the Nifty index.
3. Top Nifty 50 losers today
Wipro, Hindalco and Tech Mahindra ended as the top losers in the Nifty pack of stocks.
4. Sectoral indices today
Nifty Bank jumped 2.21 per cent, while the Financial Services index clocked a gain of 2.27 per cent.
Nifty Private Bank and PSU Bank rose 2.23 per cent and 1.64 per cent, respectively.
All major sectoral indices ended with gains.
5. Over 80 stocks hit 52-week highs
Shares of HDFC Bank, ICICI Bank, Bharti Airtel and Bajaj Finserv were among the 83 stocks that hit 52-week highs in intraday trade on the BSE.
6. Over 30 stocks hit 52-week lows
Arigato Universe, Dhruva Capital Services and Gensol Engineering were among the 33 stocks that hit their 52-week lows in intraday trade on the BSE.
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