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What happened in the Indian stock market today (22nd Apr 2024)?

Today Stock Market News (22-Apr-2024)

On April 22, 2024, the Sensex and the Nifty 50 continued their upward trend, fueled by positive global cues and reduced geopolitical tensions in West Asia. 

The Sensex opened at 73,666.51, reaching a high of 73,767.80 and a low of 73,227.32, before closing at 73,648.62, up by 560 points or 0.77%. 

Similarly, the Nifty 50 started at 22,336.90, touched highs and lows of 22,375.65 and 22,198.15, and concluded at 22,336.40, with a gain of 189 points or 0.86%. 

The market found comfort in the absence of further escalations between Israel and Iran, fostering renewed investor optimism.

You may also like: Decoding Wipro’s financials: A Q4 2024 earnings snapshot

Impact on the stock market

Indian stock market saw broad-based buying, with Nifty PSU Bank leading with a 3.07% gain, followed by Nifty Consumer Durables at 2.40%. Nifty Bank closed 0.74% higher. Nifty Pharma and Healthcare rose by over 1% each.

Information Technology+0.51%
Oil & Gas+0.49%
PSU Banks+3.07%

Top gainers today

CompanyPriceChange (%)
TATA Cons. Prod1,170.95+2.89%
Eicher Motors4,466.95+2.83%
Shriram Finance2,424.65+2.46%

Top losers today

CompanyPriceChange (%)
HDFC Bank1,512.20-1.25%
JSW Steel854.80-1.16%
IndusInd Bank1,477.50-0.31%
Tata Steel161.85-0.15%

Market aftermath: Impact on stocks

IREDA surges 11% on record profits

IREDA shares surged up to 11% as the renewable energy financier reported record profits for Q4. In FY24, it achieved a PAT of ₹1,252.23 crore, up by 44.83% from the previous fiscal. Its loan yields rose to 9.9%, driving robust growth. 

Asset quality improved significantly, with the Gross Non-Performing Assets (GNPA) ratio down to 2.3% and Net Non-Performing assets (NNPA) at 0.99% in FY24. Loans sanctioned increased by over 98% to ₹23,407.57 crore, while disbursements rose by 13% to ₹12,869.35 crore in the March quarter.

Also Read: HDFC Bank Q4 results: Did they beat estimates?

Zomato surges 4% as platform fee rises 25%

Zomato Ltd saw a 4% increase in shares following a 25% platform fee hike, effective April 20, especially in cities like Delhi-NCR, Bengaluru, and Mumbai. The fee for food delivery rose to ₹5 per order from ₹4 previously. 

This increase is expected to enhance Zomato’s EBITDA by approximately ₹85-90 crore annually. Despite a recent GST demand, the stock has soared over 250% in the last year, reaching a 52-week high of ₹199.7 on April 12.

Jio Financial Services surges 4%

Jio Financial Services surged 4% to a 52-week high after reporting a 6% rise in Q4 net profit to ₹311 crore on April 19, 2024. Its Net Interest income stood at ₹280 crore, with total revenue reaching ₹418 crore. The stock hit ₹385 on the BSE and ₹384.85 on the NSE. 

Annual consolidated net profit soared to ₹1,605 crore from ₹31 crore in FY24. Revenue rose marginally to ₹418 crore. Expenses increased slightly to ₹103 crore.

Also Read: Jio Financial Services: Disrupting the insurance and AMC markets

Crude oil futures dip

Crude oil futures declined on Monday morning amidst hopes that tensions between Iran and Israel in West Asia would not escalate further. June Brent oil futures dipped by 0.72% to $86.66, while June WTI futures fell by 0.75% to $81.60 at 9:21 am. 

On the MCX, May crude oil futures traded at ₹6818, down 1.15%, and June futures at ₹6790, down 1.18%, from their previous close of ₹6897 and ₹6871, respectively.


In today’s stock market update on April 22, 2024, Indian indices continued their upward trajectory, propelled by positive global cues and a decrease in tensions in West Asia. 

IREDA surged 11% on record profits, while Zomato and Jio Financial Services also saw gains. Crude oil futures experienced a slight dip amidst hopes of de-escalating geopolitical tensions. 

Stay tuned to StockGro for further 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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