Stock Market Today | Nifty crosses 24,200 mark | Sensex holds 78,100 | Indigo, Zomato surge 4%

15 Apr 2026 , 05:13 PM

Market Wrap

The Indian stock market witnessed a strong bullish session, with benchmark indices rallying sharply on the back of improving global cues and easing geopolitical concerns. The BSE Sensex surged 1,264 points to close at 78,111, while the Nifty 50 gained 389 points to settle at 24,231. This sharp rally in the stock market added nearly Rs 9 lakh crore to investor wealth, taking the total market capitalisation of BSE-listed companies to around Rs 458 lakh crore. The rally reflected a broad-based buying trend across sectors, supported by a notable decline in volatility, as the India VIX dropped over 8 percent to 18.76.

The primary trigger behind the rally was the renewed optimism around potential de-escalation between the United States and Iran. Expectations of fresh negotiations between the two nations pushed crude oil prices below the USD 100 per barrel mark, easing concerns for an oil-import dependent economy like India. Additional support came from a stronger rupee, falling bond yields, and positive global market trends, all of which contributed to improved investor sentiment.

Stock Performance

Among the top performers, stocks like InterGlobe Aviation, Eternal Limited, Power Grid Corporation of India, Tata Consultancy Services, Tech Mahindra, Larsen & Toubro, Asian Paints, and Adani Ports and Special Economic Zone advanced between 3 and 4 percent. On the other hand, Bharti Airtel, Axis Bank, and ICICI Bank ended the session with marginal losses.

In the broader market, midcap stocks also participated actively in the rally. Notable gainers in the Nifty Midcap 100 index included Suzlon Energy, Rail Vikas Nigam Limited, Dixon Technologies, and Oracle Financial Services Software, all of which posted gains of over 5 percent, indicating strong participation beyond large-cap stocks.

Stock-specific action remained in focus as well. Shares of InterGlobe Aviation climbed around 5 percent to Rs 4,644, supported by easing fuel costs, improving travel demand outlook, and short covering. However, the stock continues to trade below its recent highs seen in February, suggesting that the current move is more of a recovery from earlier declines rather than a decisive breakout. Meanwhile, Eternal Limited gained over 4 percent, driven by positive brokerage commentary and optimism around its growth trajectory.

On the earnings front, ICICI Prudential Life Insurance reported a strong set of numbers for Q4 FY26. The company’s profit after tax surged 578 percent year on year to Rs 609 crore. For the full financial year, profit grew 34.6 percent to Rs 1,600 crore. Business growth remained robust, with new business premium rising 30.6 percent and annualised premium equivalent registering a 16.4 percent increase, highlighting sustained momentum in the insurance segment.

Technical View

From a technical perspective, the Nifty index has shown a strong recovery after forming a higher bottom at 23,555 levels earlier this week. The index opened with a significant upside gap and maintained its gains throughout the session, indicating strong buying interest. The short-term trend remains positive, with immediate support placed in the 24,070 to 24,050 zone, followed by a stronger base around 24,000 to 23,900 levels. On the upside, resistance is seen in the 24,350 to 24,400 range, and a sustained move above this could push the index towards 24,550 and higher levels. The formation of a bullish candle on daily charts and a higher bottom structure on intraday charts further reinforces the positive outlook.

The Bank Nifty index, however, showed relatively subdued performance. Despite opening higher, it failed to sustain above its 200-day exponential moving average and witnessed mild profit booking. Technically, the index has immediate support in the 55,800 to 55,700 zone, while resistance is placed around the 56,700 to 56,800 band. A decisive breakout above this resistance could open the path towards 57,300 levels in the near term.

Overall, the market sentiment remains optimistic in the short term, supported by favourable global developments and improving technical indicators. However, sustainability of the rally will depend on continued geopolitical stability, movement in crude oil prices, and follow-through buying in the coming sessions.

 

Disclaimer – The stocks and indices mentioned in this article is discussed solely for informational and educational purposes. It should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult a financial advisor before making any investment decisions.