Stock Market Today Highlights: Sensex jumps 505 points, Nifty 50 closes above 24,350

Indian equity markets ended higher today, with both the Nifty 50 and BSE Sensex gaining 0.65%, supported by easing global tensions, selective buying, and stock-specific triggers. Overall sentiment remained positive throughout the session.

On the domestic front, buying interest was seen in defensive sectors such as FMCG and select banking stocks, which helped sustain gains despite mixed global cues. Among stock-specific developments, Federal Bank’s partnership with Zaggle Prepaid Ocean Services Ltd stood out, with Zaggle securing a three-year deal to provide its employee expense management platform—an agreement viewed positively for its stable and scalable revenue potential.

Meanwhile, the ongoing Q4FY26 earnings season kept investors engaged, with corporate results and management commentary across sectors like banking, IT, and automobiles continuing to drive stock-specific movements.

A total of 40 stocks within the Nifty 50 index closed higher, with Hindustan Unilever (up 4.75%), Nestle India (up 2.24%), JSW Steel (up 2.09%), and Apollo Hospitals Enterprise (up 1.93%) emerging as the leading gainers.

Conversely, Wipro (down 2.83%), HDFC Life Insurance Company (down 2.38%), and Sun Pharma (down 1.04%) were the primary laggards in the index.

The rupee strengthened by 29 paise to close at 92.85 (provisional) against the US dollar on Friday, supported by a declining US currency and falling crude oil prices, amidst rising optimism for reduced geopolitical tensions.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, after showing weakness from the highs on Thursday, Nifty 50 bounced back sharply on Friday and closed the day higher by 156 points. After opening on a weak note the market moved up quickly after the knee jerk action of the opening. The upside momentum continued in the middle to later part of the session and the market finally closed at the highs.

Shetti stated that long bull candle was formed on the daily chart that has overlapped the bear candle of previous session. Technically, this market action indicates strong uptrend in the market with minimal downward correction in between. Nifty 50 is currently placed at the hurdle of 24,400 levels and a sustainable move above this resistance could open the next upside towards 24,800 in the near term. Immediate support is placed at 24,100.

Investors gained approximately ₹5 lakh crore in just one session as the total market capitalisation of companies listed on the BSE increased from around ₹461 lakh crore to nearly ₹466 lakh crore in the subsequent session.

Domestic benchmark indices Nifty 50 and BSE Sensex rebounded from a weak start to end higher on Friday, April 17, supported by improving geopolitical sentiment and renewed foreign institutional investor (FII) inflows.

The Nifty 50 settled at 24,353.55, gaining 156.80 points or 0.65%, while the Sensex advanced 504.86 points, or 0.65%, to close at 78,493.54.

According to market experts, the positive momentum was driven by easing tensions in West Asia and a shift in FII activity back into net buying territory, boosting overall investor confidence.

Sensex jumps 504.86 points to settle at 78,493.54; Nifty 50 climbs 156.80 points to 24,353.55.

Despite the positive undertone, the Nifty 50 continues to face stiff resistance in the 24,400–24,500 zone. The index has repeatedly failed to sustain gains above this level, having touched 24,400 in the previous session before retreating. In Friday’s session as well, it pared early gains after hitting an intraday high of 24,323. Technically, the 24,400 level has emerged as a strong resistance zone for Nifty 50 due to multiple confluences.

Consumer sector overvaluation in April 2026 stands at 14%, versus 15% in March 2025. In Q4FY26, consumer staples sustained its volume growth momentum, supported by a mix of grammage actions and gradual demand recovery. However, input cost pressures emerged during the quarter, led by inflation in crude-linked derivatives (LAB, HDPE etc.) following the disruption in the Gulf region. While most companies were able to manage RM price inflation, its full impact will likely reflect in H1FY27, said ICICI Securities.

According to the brokerage firm, such cost environments tend to favour large players like HUL, Marico, Nestle, given their superior pricing power, distribution strength, and ability to absorb short-term shocks—potentially gaining market share at the expense of regional/smaller brands.

India’s sugar production has increased by around 8% so far in the ongoing sugar season (SS 2025-26), reaching 274.8 lakh tonnes as of April 15, compared to 254.96 lakh tons during the same period last year, according to data released by the Indian Sugar and Bio-Energy Manufacturers Association.

In an official statement, ISMA said that while production has risen, the number of operational mills has declined significantly. A total of 19 factories are currently operational, compared to 38 mills operating at the same time last year, indicating that the crushing season is nearing its end.

Kotak Mahindra Bank, IndusInd Bank, IDFC First Bank, Bank of Baroda and Canara Bank were the top gainers on the Bank Nifty index.

Banks are expected to keep their gross non-performing assets (NPAs) in check at 2.0-2.2% by the end of March 2027, compared with a historical low of an estimated ~2.0% as of March 2026, said Crisil Ratings.

Amid the conflict in West Asia, the corporate segment’s healthy balance sheets will support resilience in their credit quality.

However, loans to the micro, small and medium enterprise (MSME) segment will be impacted more on account of two key factors - firstly, the West Asia conflict affecting underlying borrowers and secondly, seasoning of the portfolio in a period of high growth. That said, government measures are expected to contain the stress on MSMEs, and in turn, the cascading effect on bank NPAs, it added.

Asset quality in the retail loan segment is estimated to remain manageable with performance of the unsecured book stabilising compared to trends seen in the recent past.

The small-cap segment of the Indian stock market has been witnessing strong momentum lately as sentiment improves, driven by a fall in crude oil prices from a multi-year high, signs of easing tensions in West Asia, and strong retail participation.

The Nifty Smallcap 250 index has gained over 13% on a month-to-date basis as of 16 April, compared with an 8% rise in the benchmark Nifty 50.

Small-cap stocks, such as Ola Electric and Gallantt Ispat, have surged up to 70% this month. In fact, more than 230 stocks in the Nifty Smallcap 250 index are in the green in April so far, with as many as 175 stocks rising more than 10%.

On Friday, 17 April, the Nifty Smallcap 250 index rose by more than 1% during the session, even as the Nifty 50 was up by half a per cent.

Bajaj Consumer share price jumped 10% to 52-week high of ₹470.00 apiece on the BSE after Q4 results.

Bajaj Consumer Care Q4 results (YoY):

> Net profit at ₹63.6 crore versus ₹31 crore

> Revenue up 31% at ₹327 crore from ₹251 crore

> EBITDA up at ₹77 crore from ₹32 crore

> Margin at 23.4% versus 12.7%

MCX gold rate traded lower by ₹263, or 0.17%, at ₹1,52,889 per 10 grams, while MCX silver rate was up by ₹718, or 0.29%, at ₹2,49,346 per kg.

Aurobindo Pharma share price touched a 52-week high of ₹1,394.10 apiece on the BSE. The stock traded ex-buyback today.

Bitcoin prices have moved back above $75,000, supported by evolving narratives. There’s growing belief that Bitcoin could develop into a neutral, borderless form of money, especially as pressure builds on traditional dollar-led systems. Reports of Iran exploring the token for payments, while still early, hint at emerging real-world use. On the positioning side, activity remains concentrated around $74,000 – $76,000, suggesting this is a key near-term zone. A put/call ratio of 0.55 reflects a mildly positive bias, said CoinSwitch Markets Desk.

Wipro is witnessing increased enterprise focus on scaling AI adoption across applications, workflows, and data platforms. The company expects to perform better sequentially, supported by recent large deal wins and a healthy pipeline. Therefore, the growth outlook for the company is expected to improve sequentially, said Axis Securities.

The brokerage firm has maintained a ‘Hold rating on Wipro shares, but slashed its target price to ₹225 per share from ₹290 earlier.

Waaree Energies share price is in a strong uptrend, offering a favorable buy-on-dips opportunity. Buy around ₹3,300 – 3,350 on retracements towards support. Stop-loss should be placed below ₹3,100 to protect against structure breakdown. On the upside, target levels are placed at ₹3,650 initially and ₹3,800 as an extended target, aligning with the next resistance zones. Avoid fresh buying at current highs; better risk-reward lies near support. Overall, trend remains bullish unless price breaks below ₹3,100 decisively, said Virat Jagad, Sr. Technical Research Analyst at Bonanza.

Rail Vikas Nigam Ltd (RVNL) share price jumped over 6% after the company emerged as the Lowest Bidder (L1) from East Coast Railway for various projects on EPC mode. RVNL share price rallied as much as 6.21% to ₹311.90 apiece on the BSE.