Indian equity benchmarks closed significantly higher on Friday, April 17, with the SENSEX ending 505 points higher at 78,494 and the NIFTY50 advancing 157 points or 0.65% to close at 24,353. According to upStox, the indices outperformed their Asian peers despite regional markets facing pressure from profit booking ahead of the weekend. The SENSEX rose as much as 565 points during the session and the NIFTY50 touched an intraday high of 24,371.90 before settling at current levels. The volatility gauge, India VIX, ended at 17.21, down 4.86% from the previous close, indicating reduced market uncertainty.
All major sectoral indices compiled by the National Stock Exchange ended higher, with FMCG stocks leading the charge with a 2.65% gain. As reported by upStox, the NIFTY Capital Markets index advanced 2.56% with BSE shares closing at a record high of ₹3,538.10. The NIFTY Bank, Financial Services, Metal, PSU Bank, Realty, Consumer Durables and Oil & Gas indices also rose between 0.65% and 1.4%. Mid- and small-cap shares significantly outperformed the NIFTY50, with NIFTY Midcap 100 index climbing 1.27% and NIFTY Smallcap 100 index surging 1.5%. The positive momentum was driven by strong buying action in index heavyweights including Reliance Industries, Hindustan Unilever, HDFC Bank, State Bank of India, Kotak Mahindra Bank, IT and Axis Bank.
Hindustan Unilever emerged as the top gainer in the NIFTY50 index, rising 4.72% to close at ₹2,240. According to upStox, Nestle India, JSW Steel, Apollo Hospitals, Power Grid, Max Healthcare and Reliance Industries also rose between 1.6% and 2.2%. However, some large-cap names faced pressure after reporting weak March quarter earnings, with Wipro and HDFC Life being the top losers in the NIFTY50 index. Other notable laggards included Sun Pharma, Bajaj Auto, Mahindra & Mahindra and HCL Technologies. The overall market breadth remained positive with 2,364 shares ending higher while 894 closed lower on the NSE, as reported by upStox.
Among individual stocks, Apollo Micro Systems rallied as much as 18.51% after receiving an arms manufacturing license from the Government of India. As reported by upStox, the private defence player received a license to manufacture, assemble, integrate, and proof-test high-value strategic weapon systems and munitions. The positive sentiment was supported by strong buying interest in stocks like Bajaj Consumer Care, Kolte-Patil Developers, Waaree Renewable, Gujarat Gas, Bharat Wire Ropes, Tokyo Plast International and Oil Country Tubular. Among the most active stocks in value terms were Balkrishna Industries (₹219 crore), Waaree Renewable Technologies (₹214 crore), GMDC (₹193 crore), Reliance Industries (₹185 crore), and HDFC Bank (₹127 crore).
Asian markets ended lower on account of profit booking ahead of the weekend, with Japan's Nikkei falling 1.57%, China's Shanghai Composite index slipping 0.1%, Hong Kong's Hang Seng declining 0.9% and South Korea's KOSPI declining 0.55%. According to upStox, the regional weakness came despite United States President Donald Trump expressing optimism over a deal to secure a permanent ceasefire in Iran. However, Indian markets managed to outperform their Asian peers, benefiting from strong domestic institutional buying and positive sectoral performance across FMCG, banking, and capital markets.
