Market Wrap, April 16: Indices end in the green; NIFTY50 rises 0.47%; SENSEX revisits 77,000; small-cap stocks jump

The Indian stock market on Wednesday, April 16, settled higher amid a volatile session supported by a rally in the broader market and banking stocks.

At close, the S&P BSE SENSEX stood at 77,044.29, jumping 309.40 points, or 0.40%, while the NSE's NIFTY50 index settled at 23,437.20, rising 108.65 points, or 0.47%.

The broader market rallied on Wednesday, with small-cap stocks outperforming the main indices.

Banking stocks were the biggest gainers, with the NIFTY PSU Bank index surging 2.37%.

The market breadth remained in favour of positives as 2,068 stocks advanced out of 2,977 traded on NSE.

Foreign institutional investors (FIIs) bought equities worth ₹6,065.78 crore on a net basis on Tuesday, according to exchange data.

Globally, tariff war uncertainty kept the investors on edge. US stocks slipped marginally on Tuesday. The Dow Jones Industrial Average slipped 155.83 points, or 0.38%, to 40,368.96, the S&P 500 fell 9.34 points, or 0.17%, to 5,396.63 and the Nasdaq Composite closed almost flat at 16,823.17, declining 8.32 points, or 0.05%.

Tracking the US market, bourses in Asia were settled lower as Nvidia and other technology companies were walloped by tighter US controls on exports of advanced computer chips used for artificial intelligence.

On Wednesday, Japan’s Nikkei was closed 1.02% lower, while South Korea’s Kospi index also lost 1.22%. The Taiwan Weighted Index slipped 2%.

Hong Kong’s Hang Seng declined 1.94%; however, the Shanghai Composite ended marginally up by 0.25% on Wednesday.

As many as 2,977 stocks traded on the NSE on Wednesday. Out of this, 2,068 advanced, and only 834 stocks declined, while 75 scrips remained unchanged.

A total of 54 stocks hit their 52-week highs, while 11 stocks touched their one-year lows. Besides, 126 stocks hit their upper circuit limits, and 30 touched their lower circuit bands on Wednesday.

NSE-listed firms market capitalisation rose to ₹412.43 lakh crore at the end of the session.

The volatility index India VIX declined 1.61% to 15.87 levels.

The broader market outperformed on Wednesday, with the Nifty Midcap 100 index settling at the 52,345.55 level, rising 0.71%, while the Nifty Smallcap 100 index jumped 1.05% to the 16,349.25 level.

IndusInd Bank was the top gainer on the NIFTY50 index, jumping 6.74%. Axis Bank, ONGC, Trent and Adani Ports were the other contributing scrips, rising as much as 4.33%.

On the other hand, Maruti Suzuki, Hindalco, Tata Motors, Infosys and NTPC were the biggest losing stocks, falling as much as 1.6%.

On March 10, the internal review by the bank had estimated an adverse impact of approximately 2.35% of its net worth as of December 2024.

At 11:48 AM, shares of the bank were trading 5.52% higher at ₹776.50 on the National Stock Exchange.

The stock was locked at ₹122.68 on the NSE, down 5%.

SEBI has also debarred Anmol and Puneet Singh Jaggi from holding the position of a director or key managerial personnel in Gensol until further orders.