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Informist, Friday, Apr. 17, 2026

 

By Gopika Balasubramanium

 

MUMBAI – The benchmark indices closed higher Friday, going against the grain in Asia where all major indices closed in the red as traders waited for clarity on the peace negotiations between the US and Iran. Derivatives analysts said traders added long positions in the options chain, helping the Nifty 50 to hold on to its gains. Barring the Nifty IT, Nifty Auto, and Nifty Pharma, which were largely flat, all sectoral indices closed higher. The broader market indices fared better than the benchmarks, rising over 1%. Wipro was hit the hardest among large-cap stocks as its margin guidance for the June quarter and the current financial year failed to cheer the Street.

 

The Nifty 50 closed at 24353.55 points, up 156.80 points or 0.7%. The index has risen over 1% in the week, logging off with gains for the second week running. Prior to this, the index had been under selling pressure for six weeks in a row. The BSE Sensex closed at 78493.54 points, up 0.7%. Additionally, the India VIX, the market's fear gauge, eased significantly. It closed 5% lower at 17.2050, falling 9% this week.

 

"I expect Nifty 50 to head up to 25500 points in another six months, post which it is bound to consolidate," an equity dealer at a small finance bank said. "Even in a 12-month perspective, this (25500) could be the level." Asked whether the recovery in the index can be justified, the dealer said, "...this is completely just not buying that we have seen, it's a lot of short covering that has been happening... is the reason for this swift recovery. ...it is going to be difficult for the index to move higher up because there are disruptions in various sectors." His defensive picks are defence and the information technology sector. He said he would look to exit from oil marketing companies until crude oil prices come down. 

 

The broader market indices have recovered from the lows hit after the war in West Asia began. Traders had trimmed their exposure to mid- and small-cap stocks to position against the volatility in the market and risks due to supply chain disruptions. However, these stocks have now bounced back to pre-war levels, with most of the recovery happening in April. The recovery was led by the Nifty Smallcap 100 among small-cap indices and the Nifty Midcap 100. These indices closed 1-2% higher Friday.

 

The mid- and small-cap indices had fallen 11-12?ter the war began as these indices are generally hit the hardest in periods of market uncertainty and external crises. While the mid-cap indices have risen 13-15% from the lows, their small-cap peers have jumped 16-17%. Analysts said there is no valuation comfort in this space, and if there is a correction in the near term, these indices will suffer a steeper fall, and the recovery would take longer. They also said the correction could be time-wise or price-wise.

 

Among Nifty 50 stocks, Wipro closed at INR 204.32, down around 3%. The company's margin guidance for the financial year 2026-27 (Apr-Mar) fell short of analysts' expectations. They do not expect the company to do better in the June quarter either as client-specific challenges may persist and deal conversions may be slow. Brokerages see timely execution of deals as a determining factor to improve growth visibility for the company in the near term. However, some find Wipro's valuations attractive as the fall in number of outstanding shares after the buyback will translate into higher earnings per share. Most brokerages have retained their "buy" call on the stock.

 

Persistent Systems and HCL Technologies came off their intraday highs and closed less than 1% higher. Infosys closed largely flat after being marginally lower in the day's trade. The remaining six companies in the Nifty IT index closed higher. The index closed almost flat at 31809.85 points and was the underperformer among sectoral indices.

 

HDFC Life Insurance Co. closed 2.4% higher at INR 616.45. Factors such as aggressive non-par product pricing by competitors in the HDFC Bank channel, which led to loss of counter share, loss following exemption of life insurance from goods and services tax, and new surrender regulations in FY26 affected the company's showing for the March quarter, hitting the value of new business. Most brokerages have retained their "buy" recommendation on HDFC Life after its weak showing in the quarter but have cut their estimates for value of new business for FY26, which is a key metric for the performance of an insurance company. Emkay Global cut its estimate for value of new business for FY27 by 3%. Nuvama cut its estimate by as much as 7.3%.

 

Hindustan Unilever and Nestle were the top gainers in the 50-stock index, closing 5% and 2% higher, respectively. Their rise pushed the Nifty FMCG to be the top gainer among sectoral indices, closing 2.7% higher at 49657.75 points. Technical analysts said the rise was a "bounce-back" from oversold positions. Some media reports said FMCG companies are likely to raise prices in the first quarter of FY26. HUL has raised prices across its soaps portfolio, passing on rising raw material and packaging costs to consumers, The Times of India reported quoting sources. Earlier, analysts had said price hikes by consumer durables companies had led to a rise in stocks in the sector.

 

Among others, Kalyan Jewellers ended over 3% lower. The fall in the stock came after the government allowed only a set of banks to import gold and silver. Meanwhile, MMTC ended over 10% higher and was among the top gainers in the Nifty 500. CNBC-TV18 reported, quoting sources, that all gold import applications except those from MMTC and India International Bullion Exchange have been rejected from Apr. 1.

 

* Of the Nifty 50 stocks, 39 rose and 11 fell

* Of the Sensex stocks, 24 rose and 6 fell

* On the NSE, 2,347 stocks rose, 905 fell, and 91 were unchanged

* On the BSE, 3,051 stocks rose, 1,285 fell, and 153 were unchanged
* Nifty FMCG: up 2.7%; Nifty Energy: 1.8%; Nifty IT: flat

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BSE                                               NSE

Sensex: 78493.54, up 504.86 points or 0.7%        Nifty 50: 24353.55, up 156.80 points or 0.7%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

Edited by Rajeev Pai

 

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