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What happened in the Indian stock market today (19th Apr 2024)?

Today Share Market News (19-Apr-2024)

On April 19, 2024, Indian equity benchmarks, the Sensex and the Nifty 50, rebounded to close higher after four days of losses amid Middle East tensions. 

The 30-share BSE Sensex rose by 599.34 points (0.83%) to 73,088.33, while the Nifty 50 gained 151.15 points (0.69%) to end at 22,147.00.

However, Middle East tensions continued to affect global market confidence. Iran’s air defence response to reports of explosions caused oil prices to surge by approximately $3, impacting Asian equities and US futures, which fell significantly today.

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Impact on the stock market

Sectoral indices showed mixed performance. Nifty Bank (up 1.07%), Nifty Financial Services (up 1.31%), Nifty Private Bank (up 1.11%), Nifty Metals (up 0.96%), Nifty FMCG (up 0.44%), and Nifty Auto (up 0.41%) closed positive.

Conversely, Nifty Media (down 1.02%), Nifty Realty (down 0.70%), Nifty IT (down 0.39%), Nifty Pharma (down 0.65%), and Nifty Oil & Gas (down 0.22%) closed  negative.

Information Technology-0.39%
Oil & Gas-0.22%
PSU Banks-0.29%

Top gainers today

CompanyPriceChange (%)
Bajaj Finance7,119.50+3.28%
Maruti Suzuki12,710.95+2.47%
HDFC Bank1,531.30+2.45%
JSW Steel864.80+2.37%

Top losers today

CompanyPriceChange (%)
Bajaj Auto8,804.50-2.40%
HCL Tech1,447.50-1.32%
Divis Labs3,671.70-1.00%

Market aftermath: Impact on stocks

Motilal Oswal hits 52-week high

Motilal Oswal Financial Services share surged 8% to a 52-week high after announcing plans for a bonus share issue at its April 26 board meeting. Trading at Rs 2,248.55, it hit Rs 2,269.50. Volume spiked to 7 lakh shares, significantly higher than the one-month average of 2 lakh. 

The stock doubled in value in the past month. Besides, the board will approve Q4 results. This marks the first bonus share issuance for MOFSL, which previously announced a Rs 14 dividend per share and has distributed Rs 56 in dividends over five years.

Also Read: Bajaj Auto Q4 ‘24: Quarterly results and market impact analysis

Tata Communications stock dips 5%

Tata Communications stock fell 5% on April 19, marking its eighth consecutive day of losses and a 14% drop. This is the longest losing streak since October 2023. 

Weak Q4 earnings, including a drop in EBITDA margin to 18.6% from 22.6% the previous year, concerned brokerages. Motilal Oswal sees limited upside potential, maintaining a neutral rating with a price target of Rs 1,910. Kotak also lowered EBITDA estimates by 3-5%.

Canara Bank sets May 15 record date for a 1:5 stock split

Canara Bank’s stock split in a 1:5 ratio will take effect on May 15, with shares trading at a face value of Rs 2 each. The move aims to improve liquidity and accessibility for retail investors. 

The stock has surged over 32% in 2024. Today, shares of Canara Bank were down 0.7% intraday. Fitch Ratings assigned the bank a ‘BBB-‘ rating with a stable outlook.

Crude oil futures rise

Crude oil futures surged over 2% on Friday morning after Israeli missiles targeted an Iranian facility. At 9:54 am, June Brent oil futures were up 2.24% at $89.06, and May WTI crude oil futures rose 2.34% to $84.67. 

On the MCX, April crude oil futures traded at ₹7,078, up 2.09%, while May futures reached ₹7,033, up 1.99%.


In today’s stock market update on April 19, 2024, Indian indices rebounded after four days of losses, with Sensex and Nifty 50 closing higher amid ongoing Middle East tensions. 

Motilal Oswal surged to a 52-week high, while Tata Communications faced a dip. Canara Bank announced a stock split to enhance retail investor accessibility. Crude oil futures rose over 2% following geopolitical tensions.

Stay tuned to StockGro for more updates!

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Hunny Meghani

A curious mind, a love for writing, and a passion for all things finance - that's me in a nutshell. Whether I'm exploring the latest stock market trends or diving into the nitty-gritty of personal finance, marketing, and AI. I'm always on the hunt for the next big story.

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