Sensex Closes Above 77,000, Nifty Gains 108 Points As Banks, Oil And Gas Stocks Surge

Nifty, Sensex Today: Indian stock market investors rejoiced as the headline indices continued to gain for the second straight session. On April 16, the Sensex closed higher by 309.4 points or 0.4 per cent at 77,044.29 levels. The Nifty 50 index ended higher by 108.65 points or 0.47 per cent at 23,437.2 levels.

Top Gainers And Losers On April 16

As many as 33 constituents of the Nifty 50 index closed in the green and 17 stocks ended in the red zone. Banking and oil and gas sector stocks led the gains among Nifty 50 stocks. IndusInd Bank, Axis Bank and ONGC shares closed higher by up to 6.74 per cent on the NSE. Other major gainers included Trent Ltd and Adani Ports and Special Economic Zone Ltd closed higher by up to 3.38 per cent. On the other hand shares of automakers such as Maruti Suzuki India Ltd, Tata Motors along with Hindalco Industries Ltd declined the most as they closed lower by as much as 1.6 per cent.

Most Major Sectoral Indices Close In Green

Most major sectoral indices ended the trade in green with Nifty Bank, Nifty Oil and Gas and Nifty Media gaining the most as they closed higher by up to 1.88 per cent. On the other hand the Nifty Auto and the Nifty Pharma index closed lower by as much as 0.43 per cent. Broader market indices such as the Nifty MidCap 100 and the Nifty SmallCap 100 extended gains for the second straight day, closing higher by up to 1.05 per cent.

Global Markets

Wall Street indices traded mixed on April 15 with the Dow Jones Futures closing in the green and the S&P 500 and Nasdaq index closing lower by as much as 0.17 per cent. At the time of writing European indices such as the FTSE 100, CAC 40 and the DAX Performance Index traded lower by as much as 0.58 per cent. Asian indices also traded in the red with the Nikkei 225, Hang Seng and Shanghai Composite trading lower by up to 1.94 per cent.

Primary Market Action

As per a report by Moneycontrol, quick commerce major Zepto is also eyeing a D-street debut. Notably, the company has received a regulatory nod for changing its name from Kiranakart Technologies Private Limited to Zepto Private Limited.

Cues To Watch

The market is likely to be impacted by mounting trade tensions between the US and China. Notably, the US has excluded China from its tariff pause. On April 15, White House press secretary Karoline Leavitt addressed a press briefing where she quoted US President Donald Trump who has said “the ball is in China’s court”. She also mentioned that the US President has implied that China needs to make a deal with the US does not need to make a deal with China.