Stock market Update today, April 21, 2023: The Indian stock market had a lackluster and choppy week, with the Nifty closing marginally negative today, losing only 0.40 points. Investors showed no interest in buying before the weekend. The overhang of the Q4 results of Reliance Industries and ICICI Bank resulted in traders and investors doing nothing.
The Nifty and Banknifty closed at 17,624.05 or down 0.40 points and 42,118.00 or down 151.5 points, respectively. The auto, banking, real estate, and metals sectors were the main culprits for the market’s volatility today.
However, Nifty FMCG, Nifty IT, and Nifty Pharma supported the benchmark from a bad weekly closing. The mid-and small-cap indices also closed negative today, losing 0.42% and 0.34%, respectively.
Nifty 50 Top Gainers and Losers of the Day
| Company Name | Current Price | Change | % Change |
|---|---|---|---|
| ITC Ltd | 408.25 | 7.95 | 1.99% |
| Tata Consultancy Services Ltd (TCS) | 3,160.85 | 56.05 | 1.81% |
| Britannia Industries Ltd | 4,327.8 | 71.40 | 1.68% |
| Wipro Ltd | 368.05 | 5.20 | 1.43% |
| Asian Paints Ltd | 2,882.1 | 38.25 | 1.35% |
| Cipla Ltd | 915.05 | 11.05 | 1.22% |
| HCL Technologies Ltd (HCL Tech) | 1,048.95 | 11.45 | 1.10% |
| Divis Laboratories Ltd (Divi’s Lab) | 3,231.65 | 28.55 | 0.89% |
| Bharat Petroleum Corporation Ltd (BPCL) | 346.2 | 2.50 | 0.73% |
| Housing Development Finance Corporation Ltd | 2,759.4 | 16.40 | 0.60% |
| Company Name | Current Price | Change | Change % |
|---|---|---|---|
| HDFC Life Insurance Company Ltd | 513.30 | -16.95 | -3.20% |
| Tech Mahindra Ltd | 998.75 | -23.05 | -2.26% |
| Adani Enterprises Ltd | 1,803.00 | -39.90 | -2.17% |
| SBI Life Insurance Company Ltd | 1,106.55 | -22.30 | -1.98% |
| Maruti Suzuki India Ltd | 8,558.45 | -156.20 | -1.79% |
| Hindalco Industries Ltd | 422.35 | -7.50 | -1.74% |
| Tata Steel Ltd | 106.15 | -1.85 | -1.71% |
| UltraTech Cement Ltd | 7,358.50 | -117.30 | -1.57% |
| Grasim Industries Ltd | 1,661.95 | -25.50 | -1.51% |
| Eicher Motors Ltd | 3,200.70 | -46.25 | -1.42% |
Throughout the week, both the Nifty and Banknifty lost 203.95 points (1.14%) and 14.55 points (0.03%), respectively.
In the last five sessions, the market has been unstable and stagnant, with no sectors or stocks showing any resilience. Stocks were sold heavily, regardless of their fundamental strength, whenever there was an increase in price.
Investors and traders acted as if there were no signs of a further rally in the market. Despite the benchmark indices remaining relatively unchanged this week. Most stocks suffered heavily due to consistent profit booking. Positions in futures and options are a significant factor in the sluggish index movement and stock underperformance.
The upcoming week in the Indian market is expected to be influenced by the Q4 results of RIL and ICICI Bank. RIL will post numbers on Friday and ICICI will post on Saturday. Moreover, with the April F&O expiration taking place next week, many experts predict a week of trendsetting sessions.
