April 16, 2025 | Stock Market

India’s benchmark indices opened on a cautious note this Wednesday, pausing after two strong sessions, as investors weighed global trade tensions and sector-specific setbacks. The Sensex dropped over 100 points in early trade, hovering near 76,634, while the Nifty 50 slipped slightly by 26.80 points, trading around 23,301.

Despite the minor dip in frontline indices, mid-cap stocks showed resilience. The Nifty Midcap 150 index gained 0.37%, reflecting investor interest in broader market opportunities.

Sector Watch: Metals and Gas Stocks Under Pressure

The metal sector led the losses with the Nifty Metal index down by 0.7%. Major players like Hindalco, JSW Steel, and Hindustan Zinc saw sharp declines amid global commodity concerns.

Meanwhile, city gas distribution companies came under pressure after the government announced changes in domestic gas allocation. Stocks such as Indraprastha Gas Ltd (IGL), Mahanagar Gas Ltd (MGL), and Adani Total Gas Ltd (ATGL) plunged up to 7% in reaction to the new policy.

Stock Highlights: IREDA and ICICI Prudential in Focus

ICICI Prudential Life Insurance gained over 5% after reporting a 122% YoY jump in Q4 net profit to ₹386 crore. Similarly, Indian Renewable Energy Development Agency (IREDA) rallied over 6.5%, supported by a 49% rise in quarterly profit.

In contrast, Gensol Engineering hit the lower circuit after SEBI barred its promoters from accessing the securities market due to financial mismanagement concerns.

Banking and Currency Movement

IndusInd Bank added 2.45% after an independent audit eased concerns over its derivatives portfolio. The Indian rupee also showed strength, appreciating 24 paise to 85.56 against the US dollar.

Commodity Watch: Gold Shines Bright

Amid global uncertainty, gold prices surged to an all-time high, with 24-carat gold reaching ₹95,170 per 10 grams, as investors turned to safe-haven assets.

Investor Sentiment: Cautious Optimism

Despite a foreign fund outflow of over $4 billion so far this month, domestic institutional investors have supported the market with net inflows of $3 billion. Market participants remain watchful of U.S. tariff developments and inflation cues.

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