Markets Closing: Nifty Ends Above 14,600, IT Stocks Lead

The Sensex and Nifty in India gave up gains on Friday and ended on a flat note on April 16 amid high volatility. On Friday, Indian markets were volatile as investors worried about an increase in covid cases in the country and WPI inflation reaching an eight-year high.

The Sensex was up 28.35 points, or 0.06% at 48,832.03, while the Nifty was up 36.40 points, or 0.25%, at 14,617.90 at the close.

In the last 24 hours, India has recorded over 2 lakh new COVID-19 cases and over 1,100 deaths.

The top gainers on the Nifty were Wipro, Hindalco Industries, Cipla, Asian Paints, and UltraTech Cement. JSW Steel, ICICI Bank, Bajaj Finance, Larsen and Toubro, and Tata Steel were among the companies affected.

The Indian rupee ended the day at 74.35 against the US dollar. It had opened at 74.79 per dollar, down from 74.92 on Thursday.

All other sectoral indices, with the exception of financials, ended in the green. The BSE Midcap and Smallcap indices both gained 1%.

Cadila Healthcare, Aurobindo Pharma, and Cipla boosted the Nifty Pharma index by over 2%.