Nifty 50, Sensex Rise Over 0.5%; FMCG, Oil & Gas Stocks Lead Gains as Brent Crude Falls Below $100

Market Update at 2:35 PM: The Indian equity benchmarks, Nifty 50 and Sensex, extended their gains in today’s session, supported by strength in FMCG and oil and gas stocks. The Nifty 50 was trading 0.51 per cent, or 123.85 points, higher at 24,320.60, while the Sensex rose 0.49 per cent, or 380.70 points, to 78,369.38 as of 14:24 IST on April 17, 2026.

Market sentiment remained positive amid easing geopolitical concerns. U.S. President Donald Trump reiterated that the ongoing conflict with Iran could end soon. He also stated that Lebanon and Israel have agreed to a 10-day ceasefire. Reports suggest that Israel halting its attack on Lebanon was one of Iran’s key conditions to de-escalate tensions.

Further supporting optimism, the U.S. and Iran are scheduled to hold discussions over the weekend, raising hopes of a potential resolution.

Broader markets outperformed the benchmark indices, indicating improved risk appetite among investors. The Nifty MidCap index gained 0.85 per cent, while the Nifty SmallCap index advanced 1.11 per cent during the session.

On the sectoral front, the Nifty FMCG and Nifty Oil and Gas indices emerged as top performers. In contrast, the Nifty IT and Nifty Construction Durable indices lagged behind, reflecting sector-specific weakness.

In the commodities market, Brent crude prices declined as expectations of easing tensions between the U.S. and Iran improved the global supply outlook. The April futures contract of Brent crude was trading at USD 98.15 per barrel, down 1.12 per cent.

Market Update at 12:33 PM: The Indian equity benchmarks extended their gains on Friday, supported by strength in FMCG and oil and gas stocks. The Nifty 50 rose 0.36 per cent, or 74.25 points, to 24,266.80, while the Sensex advanced 0.40 per cent, or 291.28 points, to 78,279.96 during the session.

Investor sentiment remained positive amid easing geopolitical concerns. U.S. President Donald Trump reiterated that the war with Iran could end soon. He also stated that Lebanon and Israel have agreed to a 10-day ceasefire. Reports suggest that Israel halting its attack on Lebanon was a key condition set by Iran for de-escalation. Meanwhile, the U.S. and Iran are scheduled to hold discussions over the weekend, further boosting optimism in global markets.

Broader markets outperformed the benchmark indices, reflecting improved risk appetite among investors. The Nifty MidCap index was up 0.80 per cent, while the Nifty SmallCap index gained 0.85 per cent.

On the sectoral front, the Nifty FMCG and Nifty Oil and Gas indices emerged as top performers, driving the market higher. In contrast, the Nifty IT and Nifty Construction Durable indices lagged, weighing on overall gains.

In the commodities market, Brent crude prices declined as hopes for a resolution between the U.S. and Iran improved the global supply outlook. The April futures contract for Brent crude was trading at USD 98.15 per barrel, down 1.12 per cent.

Market Update at 09:35 AM: The Indian equity benchmarks, Nifty 50 and Sensex, opened on a muted note on Friday as investors remained cautious ahead of further clarity on ongoing negotiations between the U.S. and Iran.

As of 9:19 AM, the Nifty 50 was trading marginally higher by 0.04 per cent, or 8.55 points, at 24,205.30. The Sensex was up 124.5 points, or 0.16 per cent, at 78,113.17.

Investor sentiment remained sensitive to geopolitical developments after U.S. President Donald Trump reiterated that the conflict with Iran could end soon. He also stated that Lebanon and Israel have agreed to a 10-day ceasefire. Reports suggest that Israel halting its attack on Lebanon was among Iran’s key conditions for de-escalation.

Further, the U.S. and Iran are scheduled to hold discussions over the weekend, which market participants are closely tracking for potential outcomes.

Meanwhile, broader markets showed mixed trends. The Nifty MidCap index declined 0.13 per cent, while the Nifty SmallCap index gained 0.50 per cent.

In the commodities segment, Brent crude prices edged lower amid optimism over improved supply prospects if tensions ease. The April futures contract was trading at USD 98.30 per barrel, down 1.10 per cent.

Precious metals also witnessed mild selling pressure, with gold futures down 0.06 per cent and silver futures slipping 0.32 per cent.

Pre-Market Update at 7:48 AM: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat to lower on Friday, tracking mixed global cues, even as optimism builds around a possible resolution in the U.S.–Iran conflict. Asian markets traded lower, while U.S. markets ended higher overnight, with the Nasdaq extending its rally for a 12th consecutive session—its longest winning streak since July 2009.

As of 7:23 am, GIFT Nifty hovered around 24,170, largely unchanged from the previous close of Nifty futures, indicating a muted start for the Nifty 50.

Geopolitical developments remain in focus. A 10-day ceasefire between Israel and Lebanon has come into effect, signaling easing tensions in the broader U.S.–Iran conflict. Former U.S. President Donald Trump has hinted at possible talks with Iran over the weekend, while reports suggest Iran may commit to avoiding nuclear weapons development for over 20 years.

On the corporate front, Wipro reported a 2.73 per cent quarter-on-quarter (QoQ) increase in IT services revenue to Rs 24,017 crore, while dollar revenue rose 0.6 per cent to USD 2,651 million. EBIT grew 1 per cent to Rs 4,155 crore, though margins declined slightly to 17.3 per cent. The company also announced a share buyback worth Rs 15,000 crore, aiming to repurchase up to 60 crore shares, representing 5.7 per cent of equity, at Rs 250 per share.

In commodities, crude oil prices declined amid easing geopolitical concerns. Brent crude futures fell 1.35 per cent to USD 98.05 per barrel, while West Texas Intermediate dropped 1.74 per cent to USD 93.40 per barrel. Gold prices remained largely flat at USD 4,790.61 per ounce, while silver slipped 0.25 per cent to USD 78.15 per ounce.

From a derivatives standpoint, the Put-Call Ratio (PCR) stands at 0.86. Significant open interest on the Put side is concentrated at the 24,000 strike, indicating strong support at this level. On the Call side, heavy open interest between 24,200 and 24,500 suggests strong resistance in this zone.

Technically, the Nifty 50 faces immediate resistance in the 24,415–24,423 range, which coincides with the 50-day moving average and a key gap area. A sustained move above this level could revive bullish momentum. On the downside, support is placed near the 8-day exponential moving average around 23,770, indicating a potential consolidation range between 23,770 and 24,423 in the near term.

In the derivatives segment, Sammaan Capital and SAIL remain under the F&O ban for April 17.

Institutional activity showed mixed trends. On April 16, Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth Rs 382.36 crore, while Domestic Institutional Investors (DIIs) were net sellers, offloading shares worth Rs 3,427.75 crore.

On Thursday, the Indian stock market ended lower after giving up early gains due to profit booking in select heavyweight stocks. The Sensex declined 122.56 points, or 0.16 per cent, to close at 77,988.68, while the Nifty 50 fell 34.55 points, or 0.14 per cent, to settle at 24,196.75.

Globally, U.S. markets closed higher, with the Nasdaq Composite and S&P 500 hitting Intraday record highs amid optimism over easing geopolitical tensions. The Dow Jones Industrial Average rose 115 points, or 0.24 per cent, to 48,578.72, while the S&P 500 gained 18.33 points, or 0.26 per cent, to close at 7,041.28. The Nasdaq Composite advanced 86.69 points, or 0.36 per cent, to end at 24,102.70. Among key stocks, Nvidia declined 0.26 per cent, AMD surged 7.80 per cent, Microsoft gained 2.20 per cent, while Apple fell 1.14 per cent and Tesla declined 0.78 per cent. Voyager Technologies jumped 8.8 per cent.

Overall, markets are expected to remain range-bound with a cautious undertone, as investors track global developments, earnings announcements, and key technical levels.

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

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