Market Snapshot
- Benchmark indices ended higher on Wednesday, with the Sensex up over 300 points and Nifty closing above 23,400, driven by late-session buying in financial and heavyweight stocks.
- Banking stocks surged for the third consecutive session, supported by softer inflation data and rising expectations of an RBI rate cut.
- Foreign investors net bought ₹6,065 crore on Tuesday—their highest single-day inflow since March 27—boosting market sentiment.
- IMD’s above-average monsoon forecast uplifted sentiment in FMCG, rural consumption, and agri-related sectors.
- The rupee appreciated 26 paise to 85.54 against the USD, supported by strong FII inflows, weak dollar, and a decline in crude oil prices, amid retail inflation falling to a nearly six-year low at 3.34%.
Sectoral Trends
|
Sector Name |
% Change |
Sector Name |
% Change |
|
NIFTY PSU BANK |
2.4 |
NIFTY FMCG |
0.8 |
|
NIFTY MEDIA |
1.9 |
NIFTY REALTY |
0.7 |
|
NIFTY PRIVATE BANK |
1.7 |
NIFTY CONSUMER DURABLES |
0.6 |
|
NIFTY OIL & GAS |
1.3 |
NIFTY METAL |
0.3 |
Top News
- Metal stocks declined on April 16 as the Nifty Metal index fell nearly 1%, dragged by heavyweights like Hindalco and JSW Steel, amid rising US-China trade tensions following the US probe into new tariffs on critical mineral imports.
- IREDA surged 7% after posting a strong Q4FY25 performance with a 49% YoY rise in net profit to ₹501.55 crore, driven by robust growth in its core lending operations.
- Banking stocks continued their rally, lifting the Nifty Bank index by over 380 points, supported by easing inflation at a 67-month low and gains in stocks like Bank of Baroda, Federal Bank, and Canara Bank.
Top Gainers and Losers
|
Top Gainers |
% Change |
Top Losers |
% Change |
|
INDUSINDBK |
6.7 |
MARUTI |
-1.6 |
|
AXISBANK |
4.3 |
HINDALCO |
-1.3 |
|
ONGC |
3.5 |
TATAMOTORS |
-1.0 |
Trade Ideas Update
- Our trade ideas success rate has 73% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
