Over 75 Nifty 500 stocks end April with gains of 10–47%; Data Patterns tops the list

Stock market today: The Indian stock market maintained its winning run for the second straight month in April, emerging as the best-performing equity market in Asia.

Domestic-focused stocks led the rally, with banking, FMCG, and realty sectors standing out as top performers, while tech stocks also made a strong resurgence during the second half of April. Despite rising tensions with neighboring Pakistan, investor sentiment was not damaged, as they continued to add stocks to their portfolios.

A shift in stance among overseas investors also supported strong local inflows, helping the Nifty 50 and Sensex gain 3% each in April. The broader market indices, including the Nifty Midcap 100 and Nifty Smallcap 100, also closed the month with gains of up to 4.7%.

Having largely been sellers in the months since Indian benchmarks scaled records in September, foreigners are coming back amid growing optimism that a domestically driven economy will make the South Asian nation withstand the global trade war better than most peers.

They remained net buyers over the last 10 trading sessions (April 15–30), pumping a cumulative ₹37,400 crore into Indian equities.

Top performers in April

78 stocks from the Nifty 500 pack ended April with gains of up to 47%, with Data Patterns (India) emerging as the top performer, gaining 47.14% during the month. It was followed by IndusInd Bank, Whirlpool of India, AU Small Finance Bank, Dixon Technologies, and six other stocks that concluded the month with gains of over 20%.

Other stocks such as Godfrey Phillips India, Devyani International, Delhivery, MRF, Bharat Dynamics, IDFC First Bank, Solar Industries India, Tata Consumer Products, KFIN Technologies, NBCC (India), BSE, SBFC Finance, and 55 others gained between 10% and 20% in April.

Will the rally in the Indian stock market to continue in the near term?

Vinod Nair, Head of Research, Geojit Investments Limited, said, "The broad market performed well this month, driven by reduced tariff risks, a potential US-India trade deal, and strong FII inflows. However, momentum is being capped by rising tensions between India and Pakistan and muted Q4 results. This negative bias is expected to persist in the near term, but the long-term outlook remains positive due to the minimal financial impact from the conflict. Consequently, any market consolidation is likely to be used as an investment opportunity."

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.