1. Benchmarks Extend Winning Streak; Nifty Reclaims 23,000 on IT & Pharma Surge
Indian equity benchmarks closed higher for a second consecutive session, overcoming global headwinds. The BSE Sensex rose 308.49 points (+0.42%) to finish at 74,459.53, while the NSE Nifty 50 gained 116.35 points (+0.51%) to close at 23,053.10. Mega-cap IT exporters and healthcare heavyweights drove the rally, compensating for persistent selling across midcap and smallcap space.
2. Large-Cap IT Exporters Rally Following Strong Earnings Signals
The Nifty IT index climbed 2.32%, leading sectoral performance on Dalal Street. Frontline software exporters saw strong institutional inflow following better-than-expected quarterly commentary from international peers, with Infosys (+3.37%) and HCLTech (+2.00%) spearheading the sector’s upward move.
3. GAIL Reports 139% Net Profit Jump; Approves GAIL Gas IPO
Energy major GAIL (India) Ltd reported a stellar Q2 FY27 performance, with consolidated net profit surging 139% YoY to ₹4,720 crore alongside a 33% increase in revenue. Sentiment was further boosted as the board granted in-principle approval for the initial public offering (IPO) of its subsidiary, GAIL Gas.
4. IndiGo Soars 4% as Quarterly Losses Narrow on Robust Passenger Yields
Aviation leader InterGlobe Aviation (IndiGo) jumped over 4% to feature among the top Nifty 50 gainers. Investors reacted positively to the carrier’s quarterly update, which highlighted narrowing net losses and strong operational yields amid elevated festive travel demand across domestic and international routes.
5. Broader Markets Plunge Under Heavy Profit-Taking; Smallcaps Down 1.85%
Divergence between frontline indices and the broader market widened sharply. While benchmark heavyweights held up, retail risk aversion triggered heavy liquidation in mid-tier and smaller capitalizations. The Nifty Midcap 100 fell 0.93%, while the Nifty Smallcap 100 plunged 1.85%, as risk-off sentiment dominated retail counters.
Stock Markets News as on 23rd April, 2026
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The Indian stock market closed lower on April 23, 2026, extending losses for the second straight session amid geopolitical tensions, FII selling, and rising crude oil prices. The BSE Sensex plunged 852 points, or 1.09%, to settle at 77,664, after opening at 77,983.66 and touching a high of 78,178.54. Meanwhile, the NSE Nifty 50 fell 205.05 points, or 0.84%, to end at 24,173.05, having opened lower at 24,202.35 and peaking at 24,310.20.
Sectoral indices mirrored the downturn, with banking and financials dragging the benchmarks. Nifty Bank dropped 1.43% to 56,305, Nifty Financial Services shed 1.42% to 26,247.20, and Nifty Auto declined 2.35%. Nifty PSU Bank crashed 2.19%, while private banks and financial services lost over 1% each. Broader markets showed mixed resilience, but advance-decline ratio favored decliners at 1,779 losers versus fewer advancers. India VIX rose 4.04% to 27.89, signaling heightened volatility.
Key laggards included IT heavyweights like Tech Mahindra and ICICI Bank, alongside banking stocks amid profit booking after recent rallies. Union Bank of India tumbled over 7% post weak Q4 results with slipping net interest income. Standouts among gainers were Oracle Financial Services (up over 8% on 31% YoY profit jump), Jio Financial Services (up 4% on Allianz JV news), and Dr. Reddy’s Laboratories (up 10.63%).
The selloff stemmed from US-Iran tensions, including ship seizures in the Strait of Hormuz and failed peace talks, pushing Brent crude above $103/barrel and weakening the rupee to 94.20/USD. FIIs resumed net selling after brief buying, while DIIs booked profits. GIFT Nifty indicated a gap-down open, down nearly 160 points.
Technically, Nifty faces resistance at 24,250-24,500 and support at 24,100-24,000; Bank Nifty support at 56,000. Globally, Asian markets ended lower, Europe traded cautiously, and gold dipped amid inflation fears. Markets eye US-Iran developments, Q4 earnings, and oil for cues, with short-term consolidation likely
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Top Gainers on NSE (April 23, 2026)
The biggest gainers today on the NSE included Dr. Reddy’s Laboratories, which surged 10.63% leading the pack amid positive pharma sector momentum. Oracle Financial Services jumped over 8% following a 31% year-over-year profit increase in its latest quarterly results. Jio Financial Services rose about 4%, boosted by news of its joint venture with Allianz. Other notable performers were Tata Consumer Products (up 3.33% to ₹1,180), Hindustan Unilever (up 2.39% to ₹2,366), and NTPC (up 2.26% to ₹405.15), reflecting resilience in FMCG and power sectors despite the broader market decline.
Top Losers on NSE/BSE (April 23, 2026)
Trent topped the losers, declining sharply as a key drag on consumer discretionary stocks. Union Bank of India plunged over 7% after disappointing Q4 results with declining net interest income. Tech Mahindra and ICICI Bank were among major laggards, contributing to the IT and banking sector slumps. HCL Tech fell significantly, alongside other IT names amid profit booking. Broader losers included banking heavyweights like those in Nifty Bank, down 1.43% overall
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Markets at Close
23rd April, 2026
Nifty closes in red for the second consecutive session; declines over 0.9% and closes below 24,200 mark
Rupee at Close
23rd April, 2026
Rupee plummets past 94/USD level; settles 33 paise lower
Source : the hindu
FII’s & DII’s Activity on 23rd April, 2026
Net value in crores
| BUY | SELL | |
| DII | 941.35 | |
| FII | -3,254.71 |
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