The Indian stock market ended positively on April 21, with the Nifty 50 closing at 24,576.60, up 212 points or 0.87%. The index opened at 24,374.55, reached a high of 24,601.70, and touched a low of 24,354.90. The BSE Sensex also climbed, finishing at 79,273.33, reflecting a gain of 753 points or 0.96%.
Broad-based support came from the FMCG and retail sectors, with Nestle India surging 8.4%. Hindustan Unilever and Trent gained 4% and 3.8%, respectively. Conversely, SBI Life fell 3.5%, while BEL and Dr. Reddy’s Laboratories slipped by 1.3% and 0.9%.
Analysts noted that profit booking could occur in Nifty due to overbought conditions. Immediate support is at 24,400, with potential upside towards 24,800-25,000 levels. For Bank Nifty, the index could head towards 57,700 and 58,500 levels, remaining above 55,850.
Market volatility is expected due to geopolitical tensions and fluctuating crude oil prices. The next market direction may be influenced by US-Iran peace talks scheduled this week.
