Stock market today: Gift Nifty is up by around 0.50%, which signals a positive start for Dalal Street.(An AI-generated image. )AI Quick ReadStock market today, 16 April 2026: Following strong global cues on the renewed hope of a ceasefire in the US-Iran war, the key benchmark indices of the Indian stock market witnessed strong buying on Wednesday. The Nifty 50 index shot up 388 points and closed at 24,231. The BSE Sensex skyrocketed 1,263 points and closed at 78,111. The Bank Nifty index gained 696 points and closed at 56,30.
The rally was broad-based, with all major sectors trading in the green—led by IT, realty, and energy. Broader markets outperformed once again, with midcap and smallcap indices advancing by more than 2%, reflecting strong risk-on sentiment and improved market breadth.
The Gift Nifty Live Chart is signalling a positive start to the Indian stock market today, with the index trading around 0.50% above yesterday's close.
Global equity markets, particularly in the US, have rebounded strongly, driven by easing geopolitical tensions and optimism about corporate earnings. Asian markets are also trading higher, further reinforcing the positive global backdrop.
Expecting a positive opening for the Indian stock market, Avinash Gorakshkar, a SEBI-registered fundamental equity expert, said, “The Gift Nifty live chart and the global cues are signalling a positive start for the Indian stock market today. We can expect the Nifty 50 index to open around 24,300 to 24,325.”
The US and Iran are considering extending their ceasefire, which ends on Tuesday, by another two weeks to allow more time to negotiate a peace agreement, according to a person familiar with the matter.
Mediators between the warring sides are trying to set up technical talks to resolve the most contentious issues, said the person, who asked not to be named, discussing sensitive matters. Those include reopening the Strait of Hormuz and Iran’s nuclear enrichment, they said.
Renewed optimism surrounding the progress in restarting US–Iran negotiations has helped ease immediate geopolitical concerns, thereby enhancing overall risk appetite. Brent crude oil prices have moderated and are consolidating in the $94–95 per barrel range, a constructive development for the domestic market.
“Traders across Asia are clinging tightly to the hope that a new round of US-Iran peace talks will materialise in the coming days,” said Tim Waterer, Chief Market Analyst at KCM Trade. “The sight of oil trading at sub-$100 levels and hopes of a diplomatic breakthrough are combining to breathe life back into equities.”
The WTI crude oil price remains around $91 to $92/bbl, which enabled bullion to attract bulls during the early morning session in the international market. The COMEX gold rate today is around $4,845/oz, whereas the COMEX silver rate today is around $80/oz.
On Wednesday, the MCX gold futures contract for the June 2026 expiry finished at ₹1,53,998 per 10 gm, while the MCX silver rate ended at ₹2,51,505 per kg.
Speaking on the outlook for gold and silver rates today, Anuj Gupta, a SEBI-registered market expert, said that gold and silver prices are attracting buyers amid cooling crude oil prices. This could become possible due to renewed hopes for a ceasefire amid US-Iran tensions.
“The COMEX gold rate today is in the $4,750 to $4,850 per ounce range. On breaking above the $4,850 hurdle, the precious yellow metal may try to reach the $ 4,900-per-ounce level. Likewise, the COMEX silver rate today is in $75 to $88. On breaking above $88 per ounce levels, the precious white metal may try to touch $95/oz levels,” Anuj Gupta said.
The volatility in the Indian stock market seems coooling off at a fast pace. India VIX declined by more than 9% on Wednesday and closed near 18.6 levels, reflecting a sharp reduction in fear and uncertainty. While this makes option premiums relatively cheaper, they remain elevated compared to normal conditions, indicating the market is not fully out of the risk zone yet.
FIIs ended up as net buyers on Wednesday by buying Indian shares worth ₹666.15 crore in the cash segment. However, DIIs remained net sellers, selling shares worth ₹568.98 crore in cash.
FIIs added shares worth ₹1,242.85 crore in the Index Futures, while they offloaded Indian shares worth ₹4,453.45 crore.
Speaking on the outlook of the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said the index has once again reclaimed the 24,000 mark, indicating strengthening momentum in the ongoing recovery phase. The index is now expected to inch toward the 24,350–24,600 zone, with a key hurdle placed around 24,800, coinciding with the 200-DEMA.
“On the downside, support has shifted higher to the 23,900–23,600 range. We reiterate a positive yet cautious stance, focusing on stock selection and prudent overnight risk management. While broader indices are showing notable outperformance in the recent rally, participants are advised to remain selective and stick to quality names,” said Religare expert.
On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index has reclaimed its 38.2% Fibonacci retracement level, indicating a recovery in trend, though it formed a slightly bearish candlestick on the daily chart. Despite this, the index is holding above its 20-day moving average, suggesting underlying strength.
“The Bank Nifty index is likely to test the 57,100 zone, which aligns with the 200 DMA. On the downside, 55,800 will act as immediate support, followed by strong positional support at 55,000, while 57,000 is expected to remain a key resistance level,” Vatsal Bhuva of LKP Securities said.
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: ABSLAMC, Timken India, Sai Life, SRF, PNB, Power Grid Corporation, Syrma SGS Technology, and Granules India.
1] ABSLAMC: Buy at ₹1048, Target ₹1124, Stop Loss ₹1010; and
2] Timken India: Buy at ₹3571, Target ₹3823, Stop Loss ₹3445.
3] Sai Life: Buy at ₹980, Target ₹1047, Stop Loss ₹955;
4] SRF: Buy at ₹2900, Target ₹3000, Stop Loss ₹2850; and
5] PNB: Buy at ₹112, Target ₹118, Stop Loss ₹107.
6] Power Grid Corporation: Buy at ₹312, Target ₹330, Stop Loss ₹304;
7] Syrma SGS Technology: Buy at ₹895, Target ₹955, Stop Loss ₹875; and
8] Granules India: Buy at ₹652, Target ₹690, Stop Loss ₹635.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).