Market Update: Indian Indices Rally as Focus Shifts to Earnings

22 Apr 2024 , 01:38 PM

Indian benchmark indices displayed positive momentum on Monday, shifting attention from geopolitical tensions to corporate earnings.

The Sensex surged by 339 points or 0.46% to reach 73,433, while the Nifty rose by 130 points or 0.59% to 22,277. Market breadth was favorable, with 2398 shares advancing, 914 declining, and 119 remaining unchanged.

All sectoral indices recorded gains, with notable performances from PSU Bank, Consumer Durables, and Healthcare sectors. The broader market outperformed the benchmarks, with the SmallCap index rising by 1.40% and the BSE MidCap index by 0.99%.

Among the Nifty 50 stocks, only five, including NTPC, HDFC Bank, JSW Steel, ITC, and ONGC, recorded losses, while top gainers included BPCL, Eicher Motors, Tata Consumer Products, SBI Life, and Wipro.

Among the 30 Sensex stocks, four, namely NTPC, HDFC Bank, JSW Steel, and ITC, ended in the red, with Axis Bank, Wipro, Larsen & Toubro, Bajaj Finance, and UltraTech Cement emerging as top gainers.

Foreign institutional investors (FIIs) net bought shares worth ₹129.39 Crore, while domestic institutional investors (DIIs) sold stocks worth ₹52.50 Crore on April 19, according to provisional data from the NSE.

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