Sensex rises for 4th day in a row— 10 key highlights of Indian stock market today

Frontline indices, the Sensex and the Nifty 50, extended their gains for the fourth consecutive session on Thursday, April 17, amid across-the-board buying and easing concerns over the impact of the ongoing trade war on the Indian economy.

Sensex closed 1,509 points, or 1.96 per cent, higher at 78,553.20, while the Nifty 50 settled with a gain of 414 points, or 1.77 per cent, at 23,851.65. The mid and small-cap segments underperformed as the BSE Midcap and Smallcap indices ended 0.56 per cent and 0.52 per cent higher, respectively.

Investors earned over ₹4 crore in a day as the overall market capitalisation of BSE-listed firms rose to over ₹419 lakh crore from ₹415 lakh crore in the previous session.

Indian stock market: 10 key highlights

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

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

Easing concerns over trade war, improving macroeconomic outlook of the country and fresh foreign capital inflow are driving the stock market.

"A strong rally in large-cap stocks was observed today, primarily driven by financials, amid expectations of improved margins stemming from changes in savings deposit interest rates," said Vinod Nair, Head of Research, Geojit Investments Limited.

"Positive sentiment was further supported by a reversal in FII flows, although the sustainability of this trend remains uncertain. Nonetheless, optimism surrounding the domestic market persists, bolstered by the expectation of a favourable outcome from US-India trade negotiations and a relatively minimal disruption from the US-China trade tensions. Additionally, a moderating inflation trajectory towards more comfortable levels is further enhancing market sentiment," Nair said.

2. Top Nifty 50 gainers today

Eternal (earlier Zomato), Sun Pharmaceutical Industries and ICICI Bank ended as the top gainers in the Nifty 50 index. As many as 43 stocks ended higher in the Nifty index.

3. Top Nifty 50 losers today

Wipro, Hindalco and Tech Mahindra ended as the top losers in the Nifty pack of stocks.

4. Sectoral indices today

Nifty Bank jumped 2.21 per cent, while the Financial Services index clocked a gain of 2.27 per cent.

Nifty Private Bank and PSU Bank rose 2.23 per cent and 1.64 per cent, respectively.

All major sectoral indices ended with gains.

5. Over 80 stocks hit 52-week highs

Shares of HDFC Bank, ICICI Bank, Bharti Airtel and Bajaj Finserv were among the 83 stocks that hit 52-week highs in intraday trade on the BSE.

6. Over 30 stocks hit 52-week lows

Arigato Universe, Dhruva Capital Services and Gensol Engineering were among the 33 stocks that hit their 52-week lows in intraday trade on the BSE.

7. 13 stocks jump over 15% on BSE

Oswal Greentech, Royale Manor Hotels & Industries, Garment Mantra Lifestyle, SecMark Consultancy, Integrated Industries and Pentokey Organy India were among the 13 stocks that jumped over 15 per cent on BSE.

8. 6 stocks fall more than 15%

Bodhi Tree- RE1, Eureka Industries, Abhinav Leasing & Finance, Sonalis Consumer Products-RE, AA Plus Tradelink and Jackson Investments were the six stocks that crashed more than 15 per cent on the BSE.

9. Advance-decline ratio

Out of 4,106 stocks traded on the BSE, 2,396 stocks advanced and 1,563 declined. 147 stocks remained unchanged.

10. Market outlook

According to Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan, the daily momentum indicator has a positive crossover, which is a buy signal.

Gedia said minor degree pullbacks towards the support zone 23,750 – 23,700 should be considered as a buying opportunity.

On the downside, 23,500 shall act as a crucial support from a short-term perspective, said Gedia.

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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.