Indian equity markets opened on a positive note on 16 April 2026, as Sensex rose over 250 points in early trade, while the Nifty50 moved back above 24,300, driven by buying interest in financials, autos, and energy counters.
Buying momentum was visible across heavyweight stocks, with ICICI Bank, HDFC Bank, Reliance Industries, and Mahindra & Mahindra leading early advances. Banking stocks continued to attract investor interest on expectations of steady credit growth and stable earnings outlook, while Reliance supported index strength through consistent institutional demand.
The IT sector traded mixed in early action. While select mid-cap technology names showed mild recovery, TCS remained under pressure, weighing slightly on sentiment due to cautious growth expectations. Profit booking was also seen in a few defensive and recently strong-performing counters.
Broader market sentiment remained constructive, supported by steady foreign institutional inflows and positive global cues. FIIs were seen active on the buy side in select large-cap names, while Domestic Institutional Investors (DIIs) provided additional support, helping sustain early gains.
On the downside, TCS, Jio Financial Services, and select metal stocks saw mild weakness, reflecting stock-specific selling pressure. However, overall market breadth remained positive, with more advancing stocks than declining ones in early trade.
Sector-wise, banking and auto stocks led gains, followed by energy, while IT and metals showed mixed performance.
Also Read: SEBI eases IPO rules, plans checks on trading errors