The Indian stock market ended Thursday’s session on April 16 with modest losses, as key indices failed to hold on to their opening gains after touching their highest levels since early March. After a 1.6% surge in the previous session, the Nifty 50 closed 0.14% lower at 24,196, while the Sensex settled at 77,988, down 0.16% from the previous close.
The broader markets, however, extended their bull run, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices ending with gains of over 0.60%, indicating that the underlying tone of the market continues to favour bulls.
Sentiment towards equities improved on hopes of a second round of negotiations between the US and Iran to end the month-long conflict, with expectations strengthening as both sides reportedly showed willingness to move forward with peace talks.
US President Donald Trump wrote late Wednesday on Truth Social that leaders from Israel and Lebanon would speak the next day in a renewed effort to broker a ceasefire, after the countries’ first direct talks in decades ended the previous day in Washington without a deal.
Recent media reports suggest that Washington and Tehran are considering extending their two-week ceasefire to allow more time for talks, even as the Strait of Hormuz remains effectively closed under a dual blockade.
Tech and EMS stocks surge, Adani group extends gains; GMDC tops rally with 20% jump
Gujarat Mineral Development Corporation emerged as the top performer among Nifty 500 stocks, hitting the 20% upper circuit at ₹746 apiece. Gallantt Ispat also posted a strong surge of 17.3%, closing at ₹927 apiece.
Strong buying interest was seen in mid- and small-cap technology stocks, with Firstsource Solutions and Sonata Software both rallying over 11%. Other stocks such as Zensar Technologies and Netweb Technologies also advanced, gaining up to 4.5%.
EMS stocks, too, witnessed robust buying activity, with Syrma SGS Technology surging 8.2%, while Kaynes Technology India advanced 4.6%. Similarly, PG Electroplast and Dixon Technologies gained 3.7% and 2.%, respectively.
Select Adani Group stocks, including Adani Power, Adani Energy Solutions, Adani Enterprises, and Adani Ports & Special Economic Zone, rose in the range of 2.5% to 4.5%. Extending its winning run to a second session, Hyundai Motor India closed 4% higher at ₹1,852 apiece.
Swiggy also ended higher for the second consecutive session, gaining 3% to ₹279.95 apiece. Continuing its recovery rally, YES Bank shares advanced a further 3% to ₹19.95, rebounding 16% from their March lows.
Supreme Industries, Tejas Networks lead losses
Among the top losers, Supreme Industries emerged as the biggest laggard, with the stock declining 4.35% to ₹3,663 apiece. It was followed by Tejas Networks, which fell 3.8% to ₹432 apiece after the company reported loss for fifth straight quarter in Q4FY26
Astral and Zee Entertainment Enterprises also ended the session with losses of over 3%.
Other stocks, including GMR Airports, Piramal Finance, Vardhman Textiles, Hero MotoCorp, Groww, Timken India, Ajanta Pharma, HDFC Bank, Minda Corporation, Meesho, Poonawalla Fincorp, JSW Cement, and Dr. Lal PathLabs, all closed lower by up to 2%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
