HUL, Nestle Among Top Gainers As Sensex Soars Over 500 Points, Nifty Reclaims 24,300 in Broad-Based Rebound

Mumbai, April 17: Indian equity benchmarks staged a strong comeback on Friday, with the Sensex rebounding sharply to end higher by around 500 points, snapping the previous session’s weakness and reflecting renewed buying interest across sectors.

The BSE Sensex closed above the 78,400 mark, while the Nifty 50 reclaimed the 24,300 level, up about 155 points, as bulls regained control after a volatile start. As many as 2,906 shares advanced, 1,233 shares declined, and 152 shares remained unchanged. The recovery was largely driven by broad-based buying, with investors stepping in after Thursday’s mild decline.

Cautious Start

Markets began the session on a cautious note, tracking mixed global cues, but sentiment improved steadily through the day. Buying momentum picked up in the latter half of the session, pushing indices higher and helping them close near the day’s highs—a sign of underlying strength.

The rebound comes after a choppy week, where geopolitical developments and fluctuations in crude oil prices kept investors on edge. However, easing concerns around global tensions and relatively stable oil prices provided a supportive backdrop for equities.

Broad-based Rally

Sectorally, the rally was broad-based, with all sectoral indices ending in the green: FMCG, media, metal, oil & gas, power, capital goods, consumer durables, and energy were up 1-2%.

The broader markets outperformed once again, with midcap and smallcap indices extending their gains, up 1.2% and 1.5% respectively. Market breadth remained firmly positive, indicating strong participation beyond index heavyweights—a trend that has been visible over the past few sessions.

Stock-specific action remained in focus. HUL, Nestle, JSW Steel, Power Grid Corp and Apollo Hospitals were among major gainers on the Nifty, while losers were Wipro, HDFC Life, Sun Pharma, L&T, and M&M.

Constructive Undertone

Despite recent volatility, the overall market undertone remains constructive. The sharp rebound on Friday suggests that dips are being bought into, a sign of confidence among investors. This comes on the back of strong gains seen earlier in the week, when benchmarks had surged over 1,200 points on easing geopolitical concerns.

Looking ahead, analysts expect markets to remain range-bound with a positive bias. Focus will now shift to the ongoing earnings season, with key results from banking and financial heavyweights likely to dictate the next leg of market direction.

In summary, Friday’s session underscored the resilience of Indian equities, with the Sensex’s 500-point rebound highlighting strong buying interest at lower levels, even as global uncertainties continue to linger.

Source:

• BSE
• https://www.bseindia.com/index.html
• https://www.nseindia.com/