Stock Market Today: Bulls return to D-Street, Sensex jumps 400 pts, Nifty above 24,400

Stock Market Today: Indian benchmark indices BSE Sensex and Nifty 50 opened on a flat note on Tuesday, April 21.

The Sensex opened at 78,617.16, slightly above its previous close of 78,520.30, and was trading at 78,716.23, up 195.93 points or 0.25 per cent at 9:15 AM.

The Nifty 50 opened at 24,374.55 compared to its previous close of 24,364.85, and was marginally higher at 24,367.40, up just 2.55 points or 0.01 per cent.

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Volatility eases, sentiment stable

The India VIX, also known as the fear gauge, declined 4 per cent to 18.04. This indicates easing volatility expectations and relatively stable near-term sentiment.

Sectoral trends: Realty leads, IT lags

Sectoral indices showed a positive bias. All indices, except IT, traded higher after opening. The Nifty Realty index gained 1.45 per cent, emerging as the top sectoral performer. Stocks such as Lodha Developers, Godrej Properties, and Oberoi Realty led gains in the realty pack.

Banking stocks also supported the market, with the Nifty Private Bank and Nifty Bank indices outperforming. In contrast, IT stocks remained under pressure, making Nifty IT the worst-performing sector in early trade.

Top movers on Sensex

Among Sensex constituents, ICICI Bank, Axis Bank, Adani Ports, Larsen & Toubro, and HDFC Bank were among the top gainers.
On the other hand, IT majors like Infosys, Tech Mahindra, and TCS traded lower. UltraTech Cement and Bharat Electronics also saw some weakness.

Broader markets outperform

The broader markets showed better momentum. The Nifty Midcap 100 index rose around 0.47–0.48 per cent, while the Nifty Smallcap 100 index gained between 0.66–0.73 per cent in early trade. This indicates continued buying interest beyond large-cap stocks.

Global cues: Rising geopolitical tension

As geopolitical tensions rose, investors around the world were still cautious. As per reports, Mohammad Bagher Ghalibaf said that Iran does not support negotiations under threats and is ready to escalate if necessary. At the same time, US President Donald Trump warned that escalation could happen if an agreement is not reached before the ceasefire deadline. These developments are keeping investors on edge.

Earnings in focus

Several companies are set to report Q4FY26 results today. These include HCLTech, Nestle India, Persistent Systems, Tata Elxsi, and Tata Investment Corporation, among others. Stock-specific action is expected to remain high.

FII-DII activity

Foreign institutional investors (FIIs) showed a slight reduction in bullish positioning. Their index futures long position dipped to 20.71 per cent from 20.80 per cent. FIIs also snapped a three-day buying streak and sold Rs 1,069 crore in the cash market. Overall, FIIs recorded a net selling of Rs 1,583 crore across cash and derivatives.

Domestic institutional investors (DIIs), however, provided support. They broke a three-day selling streak and bought equities worth Rs 2,967 crore in the cash segment.

Rupee movement

The Indian rupee opened 14 paise weaker at 93.26 against the US dollar, compared to the previous close of 93.12.