Nifty50 and Sensex recoup opening losses to close in the green

On Friday, April 19, the NIFTY50 closed at 22,147, up 0.69%, recouping opening losses. While SENSEX closed above 73,088, gaining nearly 600 points. Markets recovered from a four-day losing streak with the SENSEX closing 0.83% higher in the session today. Banking heavyweights like HDFC Bank, ICICI Bank, and Axis Bank pushed overall markets into the green. 

Markets around the world remained cautious after the Fed’s hawkish commentary about delaying rate cuts till the second half of the year if they happen at all. The escalating tensions in the Middle East region further dented investor sentiment and led to weaker openings. 

The trends on Gift Nifty also indicated a gap-down start for the Indian markets, with NIFTY50 opening at 21,861 and SENSEX opening at 71,999. Markets closed today with investors expecting fourth-quarter earnings from Jio Financial Services and Wipro. 

Brent crude futures for May delivery were trading at $90.46 a barrel, up 4.09% as against the previous day’s close. Oil prices have remained under increased pressure since last week after Iran vowed to avenge the suspected Israeli strikes on its consulate in Damascus. Read More

Broader markets underperformed the benchmark indices as they closed lower on Friday. NIFTY Midcap 100 Index (-0.61%) and NIFTY Smallcap 100 Index (-0.10%) both closed lower today. 

Among sectoral indices, NIFTY Bank (+1.07%) and NIFTY Metal (+0.96%) were among the best performers, while NIFTY Media (-1.02%), NIFTY Realty (-0.70%), and NIFTY IT (-0.39%) were among the worst performers.

NIFTY Bank saw impressive gains today after a disappointing performance in the past few sessions. The index closed 1.07% higher after heavyweights like HDFC Bank (+2.64%), ICICI Bank (+1.19%) and Axis Bank (+0.75%) showed strong performance in the session today lifting the overall markets. 

Out of the NIFTY50 space, 30 stocks closed in green. Bajaj Finance (-3.15%), Mahindra & Mahindra (-2.92%) and HDFC Bank (-2.54%) were the top gainers, while Bajaj Auto (-2.48%), Nestle India (-1.32%) and Divi’s Lab (-1.32%) were the top losers. 

Among major stock movers, ICICI Securities rose nearly 2% after Q4 profit doubled to ₹536.53 crore in the fourth quarter as compared with ₹262.68 crore reported a year ago. The company’s consolidated revenue from operations jumped 74.4% to ₹1,543.17 crore in the March quarter. Shares of the company snapped a three-day losing streak to close 1.27% higher at ₹712.50 on the NSE. Read more

Aurionpro Solutions shares were locked in an upper circuit after the company announced it would acquire a majority stake of 67% in Arya.ai with an aggregate investment value of approximately $16.5 million. Shares of the company closed 5% higher at ₹2,436.85 on the exchange. Read more

Wipro shares closed 1.74% higher, with a day high of ₹453.9 per share on NSE. In a filing submitted after-market, the company reported a 5.8% QoQ rise in Q4 net profit to ₹2,858 crores, while its consolidated revenue remained flat at ₹22,208 crores. Read more

Premier Explosives rose more than 3% after the company’s board approved a 1:5 stock split. The company also announced that its Board has approved the proposal to raise ₹400 crore through public issues, preferential issues, and private placement. Shares of the company closed 3.33% higher at ₹2,087 on the exchange. Read more