Market Wrap, April 21: SENSEX surges 855 pts, NIFTY50 ends above 24,000 mark as banking stocks soar; broader market outperforms

The Indian stock market on Monday, April 21, ended the session on a higher note for the fifth straight session following optimism among investors after heavyweight stocks like HDFC Bank and ICICI Bank posted good Q4 earnings.

Rally in the broader market also supported the equity indices. Market participants’ sentiment remained buoyant after gains in the banking and IT stocks as well.

On Monday, the 50-share index crossed the 24,000 level for the first time since January 6, 2025. Meanwhile, the Nifty Bank hit a record high during the opening session, jumping over the 55,000 level.

At close, the S&P BSE SENSEX stood at 79,408.50, jumping 855.30 points, or 1.09%, while the NSE's NIFTY50 index settled at 24,125.55, soaring 273.90 points, or 1.15%.

The BSE-listed companies market capitalisation touched $5 trillion after first time in three months.

During the holiday-truncated week ended April 18, the foreign portfolio investors (FPIs) made a net investment of ₹8,472 crore in equities. According to depository data, FPIs have pulled out ₹23,103 crore from the equities in April so far.

Globally, the Asian indices were mixed on Monday following the Easter weekend holiday. Market investors were cautious ahead of earnings releases by the US tech companies.

During the morning session, Tokyo's Nikkei 225 index declined 1.31% to 34,279.92, while South Korea’s Kospi was marginally up by 0.20% to 2,488.42 levels. The Shanghai Composite Index gained 0.45% to 3,291.43.

Hong Kong and Australia markets remained closed on Monday.

The US markets on Thursday closed mixed as investors waited for further progress in the trade war situation. The S&P 500 gained 0.13% to close the session at the 5,282.70 level.

The Nasdaq lost 0.13% to 16,286.45 points, while the Dow Jones Industrial Average slipped 1.33% to the 39,142.23 level.

As many as 3,014 stocks traded on the NSE on Monday. Out of this, 2,251 advanced, and only 683 stocks declined, while 80 scrips remained unchanged.

A total of 93 stocks hit their 52-week highs, while 16 stocks touched their one-year lows. Besides, 166 stocks hit their upper circuit limits, and 54 touched their lower circuit bands on Monday.

At the end of the session, NSE-listed firms market capitalisation stood at ₹423.22 lakh crore.

The volatility index India VIX was marginally up by 0.30% to 15.52 levels.

Tech Mahindra, Trent, IndusInd Bank, Power Grid and Hero MotorCorp were the most contributing stocks on NIFTY50, jumping as much as 5.14%.

On the flip side, Adani Ports, HDFC Life Insurance, ITC, Hindustan Unilever and Asian Paints were the biggest losers, declining as much as 1.27% on the 50-share index.

Except for Nifty FMCG (-0.96%), all the other sectoral indices ended positive. Nifty PSU Bank (2.47%), Nifty Oil and Gas (2.38%), Nifty IT (2.29%), Nifty Realty (2.25%) and Nifty Private Bank (2.13%) were the top gainers.

This was largely driven by a strong 5.4% YoY jump in advances at ₹26.19 lakh crore as compared to ₹24.8 lakh crore in the Q4FY25. Similarly, the deposits remained strong at ₹27.14 lakh crore, which grew 14% YoY.

The company said that its revenue in rupee terms came in at ₹908.3 crore, up 0.3% YoY, but down 3.3% QoQ. In constant currency terms, the company's revenue saw a decline of 2.9% YoY and 5.3% QoQ.