Nifty nears 24,600 as strong FMCG earnings offset global concerns

Broader markets led by FMCG puts up a strong showing

Apr 21, 2026

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Markets Today

Nifty opened flat at 24,375, tracking mixed global cues. Early volatility dragged the index toward 24,350, but it quickly recovered to the 24,480–24,500 zone within the first hour.

Through the late morning, Nifty maintained a steady upward bias, inching higher with minor pullbacks and holding above 24,500. By noon, it settled into a tight 24,500–24,550 range.

The second half remained largely range-bound with a slight positive tilt, as the index oscillated between 24,520 and 24,560. Intermittent buying kept pushing it toward the upper end of the range.

In the final hour, Nifty edged higher toward the day’s highs near 24,600 and closed at 24,576.60, marking a steady session with a gradual uptrend and limited drawdowns.

Nifty gained 0.87% (211.75 points), while Bank Nifty outperformed, rising 1.39% to 57,371.45; Sensex added 0.96%. VIX dropped 6.71% to 17.53, its lowest in five sessions. Market breadth was strong, with 335 advances against 161 declines in the Nifty 500.

Sectoral Indices Performance

FMCG led with a 2.55% rally on strong earnings from Nestle. Realty climbed 2.14%, Banks 1.39%, and Consumption 1.26%. Pharma was the only loser at -0.08%. Metals and Infra lagged at +0.04% and +0.35%. Eleven of twelve sectors closed green.

Winners & Losers

The midcap index rose 0.81% to 13,919.45, slightly trailing large-caps. The rally was concentrated but broad enough, with two-thirds of Nifty 500 stocks advancing.

Momentum Screener

Global Markets

Commodities

Crude at 8,173 was flat, down just 0.13%. Gold dropped 0.27% to ₹1,53,526 and silver fell 0.61%.

Bond Yields & Currency

India 10Y yield at 6.892%. US 10Y at 4.26%. Rupee weakened 0.25% to 93.39, the worst move in a week despite domestic buying.

FII / DII Flows

Here’s the trend of FII-DII activity from the last 5 days:

Thematic Indices

Tijori’s niche indices, where pockets of the market beyond standard sector baskets are sorted by today's move. You can also track the Promoter buying and other interesting stuff, like Capex activity by the companies in the Tijori App’s idea dashboard

Change in OI for the day

The following is the change in OI for Nifty contracts expiring on 28th April:

The maximum Call Open Interest (OI) is observed at 25,000, followed by 24,500, indicating potential resistance at the 24,700 -24,800 levels.
The maximum Put Open Interest (OI) is observed at 24,500, followed by 24,400, suggesting support at 24,300-24,200.

Note: OI is subject to multiple interpretations; however, generally, an increase in Call OI indicates resistance in a falling market, while an increase in Put OI indicates support in a rising market.

Source: Sensibull

Management Chatter

In this section, we highlight interesting comments from the management of major companies and policymakers in the Indian and Global Economies.

Vikram Gourineni, ED of Amara Raja Energy & Mobility on the growth opportunities:

“For the last several years, we’ve been doing lithium pack business, mostly for low-voltage mobility as well as telecom. The cumulative lithium installations in telecom have crossed one gigawatt-hour. That’s only a small stepping stone for us.”
“Over the next two to three years, we expect aggressive telecom rollouts. After that, there will be some replacement cycles, and we’ll increasingly focus on stationary storage applications like UPS, utility-scale storage, and other emerging use cases.”
Both (ESS and Data centers) are very large opportunities. ESS could become one of the largest segments after EVs (electric vehicles),” - Link

Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, on the current global environment:

“So, the inventories are running dry. We already have signs like in India, the plastics market, and the furniture makers are now priced out. So plastic chairs, tables, those are not being manufactured.”
The system seems to be calibrating much more efficiently, and therefore maybe there is a couple of weeks extra of inventory.I must say that the product inventories are now starting to hit precarious levels… maybe it is the 30th of April, but it is not the 30th of May.” - Link