Market recovers from opening lows, NIFTY50 at 22,049, SENSEX gains over 200 points

Benchmark indices recovered from opening lows to trade in green at midday on Friday, April 19. At 1:10 pm, NIFTY 50 was trading 0.25% higher at 22,049, while SENSEX gained 0.30% or 215 points at 72,704.

Out of the NIFTY50 space, 25 stocks were advancing. Grasim, Mahindra and Mahindra, HDFC Bank, ITC and Apollo Hospital gained the most, while Bajaj Auto, Nestle India, HCLTech, Shriram Finance and Tata Motors were major laggards.

The benchmark index outperformed the broad market indices. While NIFTY Midcap100 is down 0.46%, NIFTY Smallcap 100 rose 0.02%.

NIFTY Pvt Bank (+0.67%), NIFTY Bank (+0.58%), and NIFTY Financial Services (+0.55%) were the top sectoral indices, while NIFTY Realty (-0.93%), NIFTY Media (-0.93%) and NIFTY IT (0.46%) fell the most.

Infosys declined 0.7% after the company's revenue growth guidance for FY 2024-2025 failed to meet market expectations. The IT giant expects a revenue growth of 1-3% in constant currency for FY25 and an operating margin of 20-22%.

Also read: OMCs, paint stocks tank up to 4% amid reports of Israel attack on Iran

Shares of Bajaj Auto Ltd slipped 2.7% after the company's earnings for Q4 FY24 failed to meet investor expectations. The company's revenue during the March quarter stood at ₹11,485 crore, up 29% compared with a year ago. Read more.

Shares of HDFC Life Insurance Company also dropped 1% after the private insurer's earnings for the fiscal year ended March 2024 (FY24) disappointed investors. Read more.