The Indian stock market closed Monday’s session, April 20, largely unchanged, as it consolidated following a recent recovery while traders continued to monitor developments in West Asia amid resurfacing tensions.
After three straight weeks of gains, the Nifty 50 ended flat at 24,831, while the S&P BSE Sensex also closed flat at 78,603.
Broader markets were closed in red, with the Nifty Midcap 100 index falling 0.18% and the Nifty Smallcap 100 dropping 0.45%, slightly outperforming the benchmark indices.
On the geopolitical front, the United States said it had seized an Iranian cargo ship that attempted to breach its blockade, prompting Iran to vow retaliation. This triggered a rebound in crude oil prices after they had slipped last week to levels seen in the early days of the Iran conflict.
US President Donald Trump said on Sunday that the US had seized an Iranian-flagged cargo ship that tried to bypass a naval blockade. Iran’s joint military command said Tehran would respond soon and termed the US action an act of piracy.
A fragile two-week ceasefire between the US and Iran is set to expire on Wednesday, while escalating tensions in the Strait of Hormuz are raising questions over fresh talks to end the conflict. Iran also reportedly said on Monday that it has no immediate plans to attend any talks with the United States.
Triveni Turbine leads gains, capital goods stocks see strong buying
Triveni Turbine emerged as the top performer among Nifty 500 stocks, surging 9.5% to ₹564.5 apiece. Zee Entertainment, Balrampur Chini Mills, Radico Khaitan, and Schneider Electric also posted strong gains, each rising over 5%.
Amid a sharp jump in trading volumes, Jyoti CNC Automation shares closed 5.11% higher at ₹743.45 apiece, while Graphite India gained 4.8% to ₹712. The stock also touched a fresh one-year high of ₹711 during intraday trade.
Elecon Engineering shares rose 5.52% to ₹435 apiece following its March quarter results.
Ather Energy witnessed renewed buying interest, with the stock rebounding 4.5% to ₹889 apiece, snapping a three-day losing streak and taking its April gains to 18% so far.
Trent shares settled at ₹4,235 apiece, up 3% from the previous close, after the company said it would consider a bonus issue at its upcoming board meeting.
PSU lender Bank of Maharashtra advanced 4% to ₹75.54 after releasing its March quarter financial results late in the session.
Banking heavyweights HDFC Bank and ICICI Bank closed flat after announcing their Q4 results over the weekend.
Other stocks such as JSW Steel, JSW Cement, CG Power and Industrial Solutions, BHEL, PTC Industries, Hitachi Energy India, and Torrent Power also ended with gains of over 2.5%.
GMDC drops 7% on profit booking; select stocks fall up to 6%
Gujarat Mineral Development shares also came under sharp selling pressure, falling 7% to ₹691.25 apiece as investors booked profits following a recent rally. Despite today’s decline, the stock remains up 22% so far in April.
Cohance Lifesciences, CarTrade Tech, Inventurus Knowledge Solutions, and International Gemmological Institute ended the session with losses of up to 6.2%. Investors also appeared to book profits in Ola Electric Mobility, with the stock dropping 4% to ₹39.2 apiece.
Other stocks such as KEC International, Chennai Petroleum, PI Industries, Aadhar Housing Finance, Godfrey Phillips India, Niva Bupa Health Insurance, Redington, and JM Financial declined between 3% and 3.5%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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