Stock Market Today: Sensex, Nifty End Lower, Fall For 4th Consecutive Session


by Sandip Das on 18 April 2024,  4 min read


The Indian stock market ended lower for the fourth consecutive session on April 18. At close, Sensex was down 454.69 points or 0.62 percent at 72,488.99, and the Nifty shed 152.10 points or 0.69 percent at 21,995.80. Around 2506 stocks advanced and 1146 stocks declined while 129 shares remained unchanged.

Except for telecom and media, all other sectoral indices are trading in the red. The BSE midcap index shed 0.5 percent and the smallcap index ended on a flat note.

The Indian stock markets remained resilient amid the Israel-Hamas conflict, avoiding any panic sell-offs. However, the escalating dispute in the Middle East has shifted focus to Indian companies with operations in Israel or exposure to the conflict-affected region.

The top Nifty Losers included Apollo Hospitals, Nestle India, ONGC, Adani Enterprises, and Titan Company. In contrast, the top Nifty gainers included Bharti Airtel, Power Grid Corporation, Hindalco Industries, Bajaj Auto, and LTIMindtree.

Stocks in News:
Bharti Airtel

The share price of Bharti Airtel witnessed a 5 percent jump on the National Stock Exchange (NSE) on April 18. It was the top gainer on the Nifty50 index. This surge comes amidst mounting anticipation of tariff hikes, offering substantial relief to telecom companies grappling with intense hyper-competition. Bharti Airtel recently unveiled plans for a merger of its Sri Lanka operations with Dialog Axiata through an equity swap arrangement. Detailing this merger, the company revealed that Dialog, a prominent telecom operator based in Sri Lanka, would acquire 100 percent of the issued shares in Airtel Lanka. In return, Bharti Airtel would receive ordinary voting shares equivalent to 10.355 percent of the total issued shares of Dialog, facilitating a seamless share swap.

Also read: What is a Demat Account?

The share price of Mastek surged by 20 percent during the afternoon trading session on April 18, following the announcement that the company had been selected as a supplier in the British Ministry of Defence’s £1.2-billion digital and IT professional services framework. This significant increase propelled Mastek’s stock to its highest single-day gain since May 2021.

The allocated budget for the project will be disbursed over four years. Mastek has been entrusted with delivering solutions encompassing enterprise and technology architecture, data management, innovation, technology assurance, and knowledge and information management for the UK Ministry of Defence’s digital and professional services framework, according to a report.

Power Grid

Power Grid Corporation of India has emerged as a pivotal player, driving the nation’s power transmission infrastructure towards efficiency and reliability. On April 18, 2024, the stock market witnessed a surge of nearly 4 percent in Power Grid’s share price, propelled by the company’s triumph in tariff-based competitive bidding for establishing inter-state transmission systems.

Asian Markets

Asia-Pacific markets climbed across the board Thursday, in contrast with Wall Street’s overnight losses which saw the S&P 500 and the Nasdaq Composite fall for a fourth straight day. South Korea’s Kospi rebounded from Wednesday’s losses and led Asian markets, advancing 1.95% and ending at 2,634.7. The small-cap Kosdaq gained 2.72% to finish at 855.65. Japan’s Nikkei 225 reversed earlier losses and closed 0.31% up at 38,079, ending a three-day losing streak, while the broad-based Topix advanced 0.54% to 2,677.45. Hong Kong’s Hang Seng index climbed 1%, while the mainland Chinese CSI 300 traded up 0.12% to end at 3,569.8, according to a report.

European Markets

Global markets showed signs of recovery in early European trading on Thursday, with stocks rising and the US dollar pulling back from recent gains, while finance chiefs of the US, Japan, and Korea issued a rare warning about currency weakness. The pan-European STOXX 600 was up 0.2% while London’s FTSE 100 was up 0.3%, according to a Reuters report.

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Source:, NSE, BSE

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Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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