Top Stocks on April 16: GMDC, Netweb Tech, Adani Power, Sonata Software, and YES Bank Experience Significant Gains

Indian Stock Market Ends Thursday's Session with Modest Losses

The Indian stock market closed Thursday's session with modest losses, as key indices failed to hold on to their opening gains after touching their highest levels since early March. The Nifty 50, India's benchmark index, closed 0.14% lower at 24,196, while the Sensex, another key index, settled at 77,988, down 0.16% from the previous close.

Bull Run Continues in Broader Markets

However, the broader markets extended their bull run, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices ending with gains of over 0.60%. This indicates that the underlying tone of the market continues to favor bulls.

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Global Developments Boost Sentiment

Sentiment towards equities improved on hopes of a second round of negotiations between the US and Iran to end the month-long conflict. The US and Iran are reportedly considering extending their two-week ceasefire to allow more time for talks. Additionally, US President Donald Trump's statement on Truth Social that leaders from Israel and Lebanon would speak the next day in a renewed effort to broker a ceasefire also boosted sentiment.

Tech and EMS Stocks Surge

Tech and EMS stocks saw strong buying interest, with several stocks posting significant gains. Gujarat Mineral Development Corporation emerged as the top performer among Nifty 500 stocks, hitting the 20% upper circuit at ₹746 apiece. Gallantt Ispat also posted a strong surge of 17.3%, closing at ₹927 apiece.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Adani Group Stocks Extend Gains

Select Adani Group stocks, including Adani Power, Adani Energy Solutions, Adani Enterprises, and Adani Ports & Special Economic Zone, rose in the range of 2.5% to 4.5%. Hyundai Motor India continued its winning run to a second session, closing 4% higher at ₹1,852 apiece. Swiggy also ended higher for the second consecutive session, gaining 3% to ₹279.95 apiece.

Losers

Among the top losers, Supreme Industries emerged as the biggest laggard, with the stock declining 4.35% to ₹3,663 apiece. It was followed by Tejas Networks, which fell 3.8% to ₹432 apiece after the company reported a loss for the fifth straight quarter in Q4FY26. Other stocks, including Astral and Zee Entertainment Enterprises, also ended the session with losses of over 3%.