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What happened in the Indian stock market today (23rd Apr 2024)?

Today Stock Market News (23-Apr-2024)

On April 23, 2024, the Indian stock market continued its positive trend, with the Sensex opening at 74,048.94 and reaching an intraday high of 74,059.89, while the Nifty 50 opened at 22,447.05 and hit an intraday high of 22,447.55. 

The Sensex closed at 73,738.45, marking a gain of 89.83 points, or 0.12%, while the Nifty 50 closed at 22,349.45, up by 32 points, or 0.14%. 

Investors stayed positive, watching corporate earnings closely as global cues remained favourable.

Additionally, the volatility index witnessed a notable decrease, reflecting increased confidence among market participants.

You may also like: Cementing Success: Adani Group’s Journey to Capture 20% Market Share by FY28

Impact on the stock market

Nifty Pharma, Healthcare, Oil & Gas, and Metal indices closed with declines of 0.96%, 0.95%, 0.73%, and 0.34%, respectively. 

Conversely, Nifty Realty surged by 2.58%, with FMCG, Consumer Durables, and IT Indices each rising by over half a per cent. Nifty Bank edged slightly higher by 0.10%.

Information Technology+0.52%
Oil & Gas-0.73%
PSU Banks+0.05%

Top gainers today

CompanyPriceChange (%)
Bharti Airtel1,342.35+3.45%
Maruti Suzuki12,996.25+1.65%
HCL Tech1,486.65+1.42%

Top losers today

CompanyPriceChange (%)
Sun Pharma1,484.65-3.60%

Market aftermath: Impact on stocks

Vodafone Idea share price surged 12%

Vodafone Idea’s shares surged 12% post-FPO(Follow-on Public Offer) as the offering saw a 6.36x subscription, with investors bidding for 8,011.8 crore equity shares by April 22. The telecom giant’s ₹ 18,000-crore FPO, the largest in India, aimed to gather ₹ 45,000 crore. 

It raised ₹ 5,400 crore from institutional investors via an anchor book at ₹ 11 per share. The company plans to allocate ₹ 12,750 crore from net proceeds to expand network infrastructure for 4G and 5G services.

Also Read : Vodafone Idea 18,000 crore FPO: Should you invest?

Maruti Suzuki hits ₹13,000 mark

Maruti Suzuki’s shares soared to ₹13,000, a record high, reflecting a 26.4% YTD increase. The rally anticipates strong Q4 results following March’s 15% YoY domestic sales growth. 

With a market capitalisation of ₹4.09 lakh crore, the company’s sales for FY24 reached a record high of 21.35 lakh units. Holding a 40.4% market share in passenger vehicles as of March 2024, Maruti Suzuki’s robust performance continues to drive investor optimism.

Reliance Industries’ stock fluctuates after Q4 results

Reliance Industries shares fell after Q4 results, with revenue up 11% to ₹2,40,715 crore compared to ₹2,16,265 crore in FY23. Despite a 2% rise before the announcement, shares opened lower at ₹2,958 and briefly reached an intraday high of ₹2,987. 

However, the stock pared early gains and dropped as much as 1.1% to hit an intraday low of ₹2,927. Reliance Jio saw a 13% profit increase to ₹5,337 crore from ₹4,716 crore in Q4 FY23.

Also Read: Reliance Q4 results: Insights into India’s largest private company

Crude oil futures rise

Crude oil futures traded higher on Tuesday morning despite easing tensions between Israel and Iran in the West Asian region. At 9:09 am, June Brent oil futures rose by 0.40% to $87.35, while June crude oil futures on WTI increased by the same percentage to $81.23. 

On the Multi Commodity Exchange (MCX), May crude oil futures were at ₹6,862, up 0.41%, and June futures stood at ₹6,831, up 0.52% from the previous close.


In today’s market update for April 23, 2024, the Indian stock market maintained its positive momentum, with the Sensex and Nifty 50 both closing higher amidst favourable global cues and declining volatility.

Notable performances include Vodafone Idea’s surge post-FPO, Maruti Suzuki hitting a record high of ₹13,000, and Reliance Industries’ fluctuation after Q4 results. Crude oil futures also rose despite reduced tensions in West Asia. 

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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