Strong start for markets: All eyes on nifty’s 24,400 challenge

Indian markets opened strong Thursday with Nifty approaching 24,400, led by widespread buying and upbeat sentiment. Earnings reactions drove sharp moves in select stocks, keeping investors focused.

Post Published By: Sona Saini

Updated : 16 April 2026, 10:31 AM IST

Nifty Climbs Sharply at Open

New Delhi: Indian equity benchmarks began Thursday’s session on a firm footing, extending the ongoing bullish momentum. The Nifty 50 advanced by around 140 points in early trade, hovering close to the 24,400 mark a level many technical analysts consider a near-term resistance.

The Sensex also opened in the positive territory during its weekly expiry session, reflecting sustained investor confidence. Market breadth remained decisively positive and signaling widespread participation across sectors.

Strong Market Breadth Signals Optimism
Early data from the NSE highlighted a robust start with approximately 1,870 stocks opening higher compared to just 228 decliners. This strong advance-decline ratio underscores the underlying strength in the broader market.

Gains were not limited to frontline indices. The broader indices also showed significant traction with 97 stocks in the Nifty 100, 193 in the Nifty 200 and 479 in the Nifty 500 registering gains at the opening bell.

Banking and Sectoral Indices in Green
All major sectoral indices opened with gains, indicating a synchronized rally across industries. The Nifty Bank index also started on a positive note, although it traded slightly below the previous session’s high, suggesting some caution among traders at elevated levels.

The overall sectoral strength reflects improving sentiment amid supportive domestic cues and continued institutional participation.

Earnings Season Drives Stock-Specific Moves
Corporate earnings remained a key driver of stock-specific action. Shares of HDB Financial Services surged nearly 12% in early trade following a strong earnings reaction, attracting investor interest.

On the other hand, Tejas Networks faced selling pressure with its stock declining around 5% after reporting its fifth consecutive quarterly loss, raising concerns about its near-term performance outlook.

Key Results in Focus
Several prominent companies are set to announce their results during the session, including Wipro, Angel One, CRISIL and HDFC Life. These earnings announcements are expected to influence market direction and stock-specific movements throughout the day.

Outlook
As the Nifty approaches a key technical barrier, the market participants will closely monitor whether the index can sustain above the 24,400 level. With strong breadth and earnings in play, volatility and opportunities are likely to remain high.