Nifty and Sensex Rally on FII Optimism and Strong Bank Earnings
Out of 2,863 stocks traded on the exchange, 2,174 advanced while 609 declined and 80 remained unchanged. A total of 89 stocks touched their 52-week high, whereas 15 stocks recorded their 52-week low, reflecting a broadly positive market breadth.
Market Update at 2:15 PM: India's key benchmark indices extended their early gains, with the Nifty 50 climbing 1.4 per cent and the Sensex rising by 1.3 per cent.
The rally was supported by expectations of foreign investments due to a weakening U.S. dollar and upbeat quarterly results from major banks.
Sectors with significant foreign investor participation, particularly financial services and information technology, saw notable gains of 1.7 per cent and 3.3 per cent, respectively, contributing nearly two-thirds of the overall market upmove.
The U.S. dollar index fell to a three-year low against a basket of currencies, further boosting sentiment. Among individual stocks, HDFC Bank gained 1.3 per cent, ICICI Bank added 0.4 per cent, and Yes Bank surged 4.4 per cent following stronger-than-anticipated Q4 results released over the weekend. Infosys rose 3.4 per cent, leading the IT sector, with experts pointing to positive FY26 revenue guidance.
Out of 13 key sectors, 12 advanced in today’s session, with FMCG being the only laggard, down 0.8 per cent. Broader markets also participated in the rally, with mid-cap and small-cap indices gaining 2.4 per cent and 2 per cent, respectively.
Out of 2,863 stocks traded on the exchange, 2,174 advanced while 609 declined and 80 remained unchanged. A total of 89 stocks touched their 52-week high, whereas 15 stocks recorded their 52-week low, reflecting a broadly positive market breadth.
Market Update at 12:15 PM: India's benchmark indices extended their winning streak for the fifth consecutive session on Monday, supported by strength in banking stocks and a weakening U.S. dollar.
As of 12:00 p.m. IST, the Nifty 50 rose 1.2 per cent to 24,136, while the Sensex advanced 1 per cent to 79,355, marking their highest levels since January 6. Heavyweights ICICI Bank and HDFC Bank gained 0.5 per cent and 1.24 per cent, respectively, hitting record highs after announcing stronger-than-expected Quarterly Results.
Foreign portfolio investors (FPIs) have shown renewed interest in Indian equities over the past few sessions, aided by the falling U.S. dollar and improving domestic growth outlook. Anand Vardarajan from Tata Asset Management said that a constructive view on Large-Cap stocks is reinforced by the dollar’s depreciation, which often channels capital into emerging markets like India.
The dollar index dropped to a three-year low of 98.246, making imports cheaper and enhancing the appeal of Indian markets for global investors. Financial stocks led the charge, with the sectoral index climbing 1.3 per cent and contributing more than half of the Nifty's gains.
Meanwhile, the Mid-Cap and Small-Cap segments also saw gains of 1.6 per cent and 1.1 per cent, respectively.
Despite reporting lower-than-expected earnings and a muted outlook for FY26, Infosys rose 2.5 per cent, surprising investors with its stock performance.
By midday, the top-gaining stocks that supported the Nifty 50 were HDFC Bank (+39.52 pts), Reliance Industries (+34 pts), and Axis Bank (+25.65 pts). On the other hand, Hindustan Unilever (-4.53 pts), Bharti Airtel (-5.99 pts), and ITC (-11.01 pts) were among the key drags on the index.
On the sectoral front, 16 out of 17 sectors recorded gains, with Nifty PSU Banks, up more than 2.7 per cent, being the top-gaining sector.
Currently, 85 stocks are trading at their 52-week high, and 13 stocks are at their 52-week low. On the NSE, 132 stocks have hit their upper circuit, while 40 stocks are locked in their lower circuit.
Market Update at 09:30 AM: India’s key stock indices opened Monday on a positive note, supported by strong quarterly earnings from ICICI Bank and HDFC Bank. As of 9:15 a.m. IST, the Nifty 50 was trading 0.41 per cent higher at 23,949.15, while the Sensex climbed 0.45 per cent to 78,903.09.
The financial sector led the gains, with the Nifty Financial Services index rising by 1 per cent. ICICI Bank advanced 2.1 per cent and HDFC Bank rose 0.9 per cent following the release of their Q4 results over the weekend.
Apart from the IT sector, most major sectoral indices opened in the green. Broader market indices, including the Nifty Midcap and Smallcap, were also up by 0.5 per cent each.
Pre-Market Update at 8:00 AM: The Indian stock market is expected to open flat on Monday, with the Sensex and Nifty 50 showing a subdued outlook due to mixed global cues. Gift Nifty was down by 50 points at 23,801, signaling a weak start.
U.S. markets closed mixed on Thursday, with the Dow Jones dropping 1.33 per cent, while the S&P 500 gained 0.13 per cent. The Nasdaq fell by 0.13 per cent. Meanwhile, China's lending rates remain unchanged for the sixth consecutive month, and the European Central Bank cut rates again due to economic concerns.
The U.S. dollar weakened significantly, falling to a three-year low against the euro, and gold prices hit an all-time high due to safe-haven demand. Crude oil prices fell over 1 per cent amid progress in U.S.-Iran nuclear talks.
Asian markets showed a mixed trend, with Japan’s Nikkei 225 down 1.16 per cent, while South Korea's Kospi rose by 0.14 per cent. Hong Kong and Australia markets were closed for the Easter holiday.
Investors will focus on upcoming Q4 earnings, global tariff updates, and the monthly derivatives expiry. Indian markets were closed on Friday, April 18, for Good Friday, while on Thursday, the Sensex gained 1,508 points and the Nifty rose 414 points.
Q4 Results:
Infosys: Net profit rose 3.3 per cent QoQ to Rs 7,033 crore, but revenue fell 2 per cent QoQ.
HDFC Bank: Net profit grew 6.7 per cent YoY to Rs 17,616 crore, with a dividend of Rs 22/share.
ICICI Bank: Net profit increased 18 per cent YoY to Rs 12,629 crore, with a dividend of Rs 11/share.
Market Activity: FIIs were net buyers, purchasing Rs 4,667 crore worth of shares, while DIIs sold Rs 2,006 crore. Stocks banned for trading in the F&O segment on April 21 include Angel One, Hindustan Copper, Manappuram Finance, IREDA, and NALCO.
Disclaimer: The article is for informational purposes only and not investment advice.