Closing Bell: Nifty 50 Erases Early 160-Point Gain, Ends Below 24,200 Mark; Sensex Down 122 Points

Market Update at 04:04 PM: The benchmark indices, Sensex and Nifty 50, ended lower on Thursday, April 16, reversing early gains as markets witnessed consolidation amid cautious optimism over a potential U.S.-Iran peace deal. The indices opened on a strong note but gradually lost momentum during the session.

The Nifty 50 started the day with a gap-up opening of 160 points; however, it declined nearly 200 points from the day’s high by the close. The index settled lower by 34.55 points, or 0.14 per cent, at 24,196.75, slipping below the 24,200 mark. The Sensex also declined by 122.56 points, or 0.16 per cent, to close at 77,988.68.

Among broader indices, Bank Nifty underperformed the frontline benchmarks, falling 0.38 per cent to settle at 56,086.40. Meanwhile, the Nifty Volatility Index remained largely steady during the session.

Global cues remained supportive as crude oil prices held firm near USD 95 per barrel, significantly lower than the March highs of nearly USD 120. Optimism surrounding easing geopolitical tensions between the U.S. and Iran lent some support to sentiment, though profit booking capped gains.

On the sectoral front, 7 out of 11 key indices ended in the green. Broader markets outperformed the benchmarks, with the Nifty Midcap index rising 0.63 per cent and the Nifty Smallcap 100 index gaining 0.89 per cent.

The Nifty Metal index emerged as the top-performing sector, advancing 1.53 per cent, with 13 out of its 15 constituents closing higher. The index also extended its gains for the second consecutive session. On the other hand, the Nifty Auto index declined 0.38 per cent, making it the top losing sector, although it remains up 11 per cent in April 2026.

In stock-specific action, HDB Financial surged over 6.7 per cent after reporting a 41.4 per cent rise in quarterly profit, supported by growth in its consumer portfolio and improving asset quality. In contrast, GTPL Hathway and Tejas Networks declined 4.36 per cent and 3.91 per cent, respectively, after reporting wider losses.

Market breadth remained positive, indicating underlying strength. Out of 3,325 stocks traded on the NSE, 2,147 advanced, 1,089 declined, and 89 remained unchanged. A total of 109 stocks hit their 52-week highs, while 3 stocks touched their 52-week lows. Additionally, 147 stocks were locked in Upper Circuits, whereas 27 stocks hit Lower Circuits.

Market Update at 12:33 PM: The benchmark indices Nifty 50 and Sensex erased early gains on Thursday as weakness in banking and media stocks weighed on the market. However, positive global cues, driven by hopes of a potential truce between the U.S. and Iran, helped limit the downside.

The Nifty 50 was trading 0.13 per cent, or 21.45 points lower, at 24,208.90. Meanwhile, the Sensex declined 79.98 points, or 0.10 per cent, to 78,031.26.

Among the Nifty 50 constituents, Titan Company, Oil and Natural Gas Corporation (ONGC), and HDFC Bank emerged as the Top Losers, dragging the index lower.

In the broader markets, performance remained mixed. The Nifty MidCap index slipped 0.04 per cent, while the Nifty SmallCap index managed to trade 0.26 per cent higher.

On the sectoral front, Nifty Metal and Nifty Financial Services Ex Bank indices were the Top Gainers. In contrast, the Nifty Auto index underperformed and emerged as the worst-performing sector with the least gains.

Market Update at 09:35 AM: The benchmark indices, Nifty 50 and Sensex, traded higher on Thursday, tracking positive cues from global equities amid rising hopes of a potential truce between the U.S. and Iran.

The Nifty 50 was trading 0.56 per cent or 136.15 points higher at 24,371, while the Sensex advanced 0.64 per cent or 499.26 points to 78,610.50.

Broader markets also witnessed strong buying interest, with the Nifty MidCap index rising 0.97 per cent and the Nifty SmallCap index gaining 1.13 per cent.

In the commodities segment, Brent crude traded with marginal movement during the Asian session as investors closely tracked developments in the ongoing U.S.–Iran talks ahead of the ceasefire agreement deadline on April 21. The April contract of Brent crude was slightly down by 0.05 per cent at USD 94.88 per barrel.

Meanwhile, precious metals remained firm, with gold futures trading 0.36 per cent higher and silver futures up 0.92 per cent.

Pre-Market Update at 7:38 AM: The benchmark indices of the Indian stock market, Sensex and Nifty 50, are expected to open higher on Thursday, tracking overnight gains on Wall Street amid hopes of easing tensions in the U.S.–Iran conflict. Asian markets traded in the green, while U.S. equities ended on a mixed note, with the Nasdaq recording its longest winning streak since November 2021.

As of 7:25 am, GIFT Nifty hovered around 24,308, up by 58 points from the previous close of Nifty futures, indicating a positive start for the Nifty 50.

Tensions between the United States and Iran remain elevated. Iranian official Mohsen Rezaei warned that if U.S. forces invade, Iran could capture American soldiers and target U.S. naval ships in the Strait of Hormuz. Meanwhile, Donald Trump stated that the war was “very close to over,” raising hopes of de-escalation.

In global bond markets, Japan’s yield curve steepened as expectations of a rate hike by the Bank of Japan weakened. The two-year bond yield fell to 1.365 per cent, while the 10-year yield rose to 2.415 per cent.

On the domestic front, India’s trade deficit narrowed to a nine-month low of USD 20.67 billion in March due to lower imports. Exports declined 7.44 per cent to USD 38.92 billion, while imports fell 6.51 per cent to USD 59.59 billion. For FY2025–26, exports rose slightly to USD 441.78 billion, while imports surged to USD 775 billion, widening the annual deficit to USD 333.2 billion.

India’s unemployment rate increased to 5.1 per cent in March 2026. Urban unemployment rose to 6.8 per cent, while rural unemployment remained largely stable at 4.3 per cent.

Crude oil prices declined on hopes of easing geopolitical tensions and smoother passage through the Strait of Hormuz. Brent crude fell to USD 94.49 per barrel, while WTI dropped to USD 90.59 per barrel. Meanwhile, the U.S. dollar remained near its lowest level since early March, with the dollar index at 98.027. The euro, pound, yen, and yuan posted modest gains against the dollar.

From a derivatives perspective, the Put-Call Ratio (PCR) stands at 1.12. Significant open interest on the Put side is concentrated at 24,200, indicating strong support, while the Call side shows heavy open interest at 24,500, marking a key resistance level.

Technically, the undertone for the Nifty 50 remains positive as long as it holds above the 24,075–24,050 zone. Immediate resistance is seen at 24,415, and a sustained move above this level could push the index towards 24,753.

In the derivatives segment, Sammaan Capital and SAIL remain under the F&O ban for April 16.

Institutional flows remained mixed on April 15. Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth Rs 666.15 crore, while Domestic Institutional Investors (DIIs) sold shares worth Rs 568.98 crore.

On Wednesday, the Indian stock market witnessed strong buying momentum. The Sensex rallied 1,263.67 points, or 1.64 per cent, to close at 78,111.24, while the Nifty 50 gained 388.65 points, or 1.63 per cent, to settle at 24,231.30.

On Wall Street, markets ended on a mixed but largely positive note. The Dow Jones Industrial Average declined 72.27 points, or 0.15 per cent, to 48,463.72. The S&P 500 rose 55.57 points, or 0.80 per cent, to 7,022.95, while the Nasdaq Composite surged 376.93 points, or 1.60 per cent, to 24,016.02.

Among stocks, NVIDIA rose 1.23 per cent and AMD gained 1.20 per cent. Microsoft jumped 4.63 per cent, while Apple advanced 2.95 per cent. Amazon edged down 0.21 per cent. Financial and tech stocks saw notable gains, with Morgan Stanley rising 4.5 per cent and Tesla surging 7.63 per cent. Broadcom gained 4.2 per cent, while Snap climbed 7.9 per cent. In a standout move, Allbirds shares skyrocketed 582 per cent.

In commodities, gold and silver prices moved higher amid easing inflation concerns linked to geopolitical developments. Spot gold rose 0.5 per cent to USD 4,812.95 an ounce, while silver gained 0.6 per cent to USD 79.39 an ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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