Stock Market Today: April 22: Indian stock markets opened slightly higher on Tuesday (April 22), despite weakness in global markets. Initially, both major benchmark indices, Nifty-50 and Sensex, slipped into the red, but buying in banking stocks supported the market, pushing it into positive territory.
The BSE Sensex, which consists of 30 stocks, opened at 79,728.39 points today. It experienced some volatility right after opening. By 12:00 PM, it had gained 297.84 points, or 0.38%, reaching 79,706.34 points. The Nifty-50 on the National Stock Exchange (NSE) also opened with a modest rise. After some fluctuations, it was trading at 24,213.20 points, up by 87.65 points, or 0.36%, by noon.
Top Losers: Out of the 30 stocks in the Sensex, 19 were trading in the red after market opening. Some of the biggest losers included IndusInd Bank, Asian Paints, Infosys, and PowerGrid.
Top Gainers: On the other hand, stocks like Eternal, Tata Steel, Kotak Bank, Bajaj Finance, HDFC Bank, Tech Mahindra, Hindustan Unilever, and Tata Steel were trading in the green.
US Markets Decline: In the U.S. markets, the Dow Jones Industrial Average fell by 2.48% to close at 38,170.41 points. The S&P 500 dropped 2.36% to close at 5,158.20 points, while the Nasdaq Composite fell 2.55% to 15,870.90 points. However, futures linked to Dow Jones were up by 0.33%, and S&P 500 and Nasdaq 100 futures saw gains of about 0.4%.
Nifty Outlook: Ajit Mishra, Senior Vice President (Research) at Religare Broking Ltd, said, “After two months of broader consolidation, Nifty has finally decisively crossed the 23,800 key resistance level, which suggests a potential rise towards 24,250, followed by gradual progress towards 24,600. We reiterate our positive view on the index and recommend continuing with a ‘buy on dips’ strategy. However, after the recent surge, a short-term pause or consolidation is likely. Investors should align their positions accordingly and avoid taking a contrarian view.”
Additionally, brokerage firm Nomura has revised its Nifty target for March 2026 to 24,970, which is higher than its previous target of 23,784 for December 2025. Nomura expects Nifty to trade at a multiple of 19.5 times its estimated earnings of ₹1,280 for FY27, compared to the earlier multiple of 18.5 times.
Q4 Results to Watch: Investors will keep an eye on the Q4 results of several companies, which are expected to be announced today, including HCL Tech, Delta Corp, and Sciant DLM.
