Sensex gains for 3rd consecutive session— 10 key highlights of Indian stock market today

Stock market today: The Indian stock market benchmarks- the Sensex and the Nifty 50- ended in the positive territory for the third consecutive session on Wednesday, April 16, with gains led by banking heavyweights, including Axis Bank, HDFC Bank and ICICI Bank.

However, weak global cues capped the gains for the benchmarks.

The Sensex ended 309 points, or 0.40 per cent, higher at 77,044.29, while the Nifty 50 settled at 23,437.20, up 109 points, or 0.47 per cent.

The BSE Midcap and Smallcap indices outperformed, rising 0.62 per cent and 0.91 per cent, respectively.

The overall market capitalisation of BSE-listed firms rose to nearly ₹415 lakh crore from ₹412 lakh crore in the previous session, making investors richer by about ₹3 lakh crore in a single day.

Indian stock market: 10 key takeaways

Let's take a look at 10 key highlights of the stock market today:

1. Why did the Indian stock market rise for the third consecutive session?

The Indian stock market ended higher on Wednesday, defying weak global cues. Major markets in Europe and Asia fell up to 2 per cent on persisting concerns over the ongoing trade war triggered by US President Donald Trump's tariff policies and its impact on global economic growth. US tariffs on select Chinese goods now stand at a whopping 245 per cent.

While a trade war is negative for the global economy, including India, experts say the domestic economy may be relatively less affected than countries like China.

There are expectations that China’s pain could lead to increased foreign capital inflows into India.

Moreover, India is actively negotiating with the US administration to find a resolution to the reciprocal tariff issue.

The improving macroeconomic situation—such as inflation falling to multi-year lows and a healthy growth outlook supported by forecasts of a normal monsoon—is also bolstering market sentiment.

"Participants responded positively to favourable cues, including the update on a normal monsoon, further easing of retail inflation, and, importantly, the absence of any negative surprises from global markets. Notably, the sustained strength in banking and financial stocks, along with rotational buying in other sectoral heavyweights, played a significant role in driving the momentum," said Ajit Mishra, SVP- Research at Religare Broking.

2. Top Nifty gainers today

As many as 33 stocks ended higher in the Nifty 50 index among which IndusInd Bank (up 6.74 per cent), Axis Bank (up 4.33 per cent) and Oil & Natural Gas Corporation (up 3.50 per cent) ended at the top.

3. Top Nifty 50 losers

Shares of Maruti (down 1.60 per cent), Hindalco (down 1.29 per cent) and Tata Motors (down 0.98 per cent) ended as the top losers in the index.

4. Sectoral indices today

Barring Nifty Auto (down 0.43 per cent), Pharma (down 0.18 per cent) and Healthcare (down 0.18 per cent), all major sectoral indices ended with gains.

Nifty Bank rose 1.41 per cent, while Financial Services index climbed 0.84 per cent.

Nifty PSU Bank index jumped 2.37 per cent, while Private Bank index jumped 1.74 per cent.

5. 78 stocks hit 52-week highs

Shares of HDFC Bank, Bharti Airtel, Eicher Motors and Shree Cement were among the 78 stocks that hit 52-week highs in intraday trade on the BSE.

6. 30 stocks hit 52-week lows

Sheela Foam, Bhagawati Oxygen and Gensol Engineering were among the 30 stocks that hit their 52-week lows in intraday trade on the BSE.

7. 15 stocks jump over 15% on BSE

Some 15 stocks, including Soma Textiles & Industries, Raj Oil Mills and H.M. Electro Mech, jumped over 15 per cent on the BSE.

8. 6 stocks crash more than 10%

Sonalis Consumer Products-RE, Eureka Industries-RE, Bodhi Tree Multimedia- RE1, Karnimata Cold Storage, JTL Industries and Goblin India were the six stocks that crashed more than 10 per cent on the BSE.

9. Advance-decline ratio

Out of 4,078 stocks that traded on the BSE, 2,636 advanced, and 1,309 declined on Wednesday. Some 133 stocks remained unchanged.

10. Nifty 50 outlook

According to Shrikant Chouhan, the head of equity research at Kotak Securities, on the daily charts, the Nifty 50 formed a bullish candle, and on the intraday charts, it is holding an uptrend continuation formation that is largely positive.

"For trend-following traders now, 23,275 would be the key support zone. Above this level, the market could maintain its positive momentum until 23,500. Further upside may also continue, potentially lifting the market to 23,575," said Chouhan.

"On the flip side, if it falls below 23,275, the sentiment could change. A drop below this level could lead the market to retest the 23,200-23,150 range," Chouhan said.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.