Stock Market Highlights | Nifty, SENSEX end higher | Gautam Adani becomes richest Asian

17 Apr 2026 , 04:38 PM

Indian equity markets closed on a positive note on Friday – 17th April 2026, with benchmark indices extending gains on strong sectoral participation across FMCG, banking, and select mid-cap counters.

The Nifty 50 ended the session at 24,353.55, up 156.80 points (0.65%), with 41 stocks advancing and 9 declining, indicating broad-based strength. The BSE Sensex also gained 504.86 points (0.65%), closing at 78,493.54, mirroring similar momentum in large-cap names. The Nifty Bank outperformed slightly, rising 478.30 points (0.85%) to close at 56,565.70, supported by steady buying in select banking majors.

FMCG Leads the Charge; Defensive Buying Supports Market Tone

FMCG heavyweights were among the top contributors to index gains. Hindustan Unilever Ltd surged 4.72%, while Nestle India Ltd rose 2.20%, reflecting defensive buying amid inflation expectations and supply-side concerns. Market participants noted that FMCG stocks benefited from their perceived resilience to macro uncertainty, even as input cost pressures remain a key watchpoint due to global supply disruptions.

Select Lagging Stocks: Wipro, HDFC Life, Sun Pharma led the Losers list

On the losing side, IT and pharma stocks saw mild profit booking. Wipro declined 2.83% after reporting Q4 FY26 results showing a net profit of ₹3,502 crore, down 2% year-on-year but up 12% sequentially. Despite sequential improvement, the stock faced pressure amid broader IT sector weakness.

Other notable losers included HDFC Life Insurance Company Ltd, down 2.41%, and Sun Pharmaceutical Industries Ltd, which slipped 1.04%.

Banking Stocks Remain Strong; PSU Banks Outperform

Banking stocks continued to attract buying interest. Federal Bank rose 3.31%, while Yes Bank gained 2.31%. Market heavyweight State Bank of India also advanced 1.23%, supporting the broader banking index.

Separately, HDFC Bank remained in focus after approving an investment of up to ₹1,000 crore in HDFC Life Insurance Company Ltd, subject to regulatory approval. The development kept the stock largely steady.

Mid- and Small-Cap Action: Defence and Seafood Stocks Surge

Mid-cap and thematic stocks saw sharp moves. Apollo Micro Systems Ltd jumped 17.15% after receiving a government license to manufacture and proof-test advanced defence systems. The lifetime validity of the license marked a key structural milestone for the company’s defence manufacturing ambitions.

In the seafood export space, Avanti Feeds Ltd surged 5.13%, while Apex Frozen Foods Ltd rallied 8.29%, driven by strong export data indicating approximately 14% year-on-year growth in India’s marine exports to around $8.43 billion in FY26.

Indian Rupee vs US Dollar 

The Indian rupee opened stronger, appreciating 28 paise to 92.86 against the US dollar, reflecting early supportive sentiment in currency markets.

Om Power Transmission IPO Debut

Om Power Transmission made a positive market debut on Friday, closing at ₹193.75 per share on the NSE, a 10.71% premium over its IPO price. The ₹150 crore issue, priced in the band of ₹166–₹175, was subscribed 3.33 times during the April 9–13 subscription window.

Gautam Adani overtakes Mukesh Ambani as Asia’s Richest Person

In broader global wealth rankings, Gautam Adani emerged as Asia’s richest person with an estimated net worth of $92.6 billion, surpassing Mukesh Ambani, who holds an estimated $90.8 billion, according to the Bloomberg Billionaires Index.

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