After opening higher, Indian benchmark indices rallied as the session progressed, ending the day strong.

Indian benchmark equity indices extended the winning streak to the fourth straight day, backed by strong gains in banking shares and Reliance Industries, even as world markets traded on a mixed note amid the US-China tariff escalation.

The Indian stock market will remain closed on Friday, 18 April on account of Good Friday.

At the closing bell, the BSE Sensex stood higher by 1,509 points (up 1.9%).

Meanwhile, the NSE Nifty closed higher by 414 points (up 1.8%).

ICICI Bank, Sun Pharma, and Bharti Airtel are among the top gainers today.

Wipro, Hero MotoCorp, and Hindalco, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,84,9 up by 380 points at the time of writing.

The BSE MidCap index ended 0.6% higher, and the BSE SmallCap index ended 0.5% higher.

Sectoral indices ended on a positive note in the banking sector, telecom sector, and finance sector, witnessing most buying spree.

The rupee is trading at 85.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 95,284 per 10 grams.

Meanwhile, silver prices were trading 1.6% lower at Rs 94,689 per 1 kg.

Here are the four key factors that drive the market's momentum.

#1 Trade Deal

The Indian stock market is gaining momentum amid optimism over a potential trade agreement between India and the US. Market sentiment was buoyed by media reports indicating that US President Donald Trump could announce further tariff exemptions following a 90-day suspension on reciprocal tariffs.

#2 Macro Factors at play

ndia's retail inflation eased to 3.34% in March, its slowest pace since August 2019, down from 3.61% in February. The RBI expects inflation to average 4% in FY26, while GDP growth is projected at 6.5%, supporting positive market sentiment.

#3 Healthy Monsoon Expectation

Market sentiment is getting a lift from monsoon optimism, with both IMD and Skymet predicting normal to above-normal rainfall. A good monsoon bodes well for rural incomes, farm output, and consumption demand. It also helps control inflation, improving the chances of RBI rate cuts and boosting overall economic growth.

#4 Banking stocks Lead the charge

Healthy gains in banking stocks have driven the Sensex higher today.

Select banking heavyweights, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank, HDFC Bank traded among the top gainers, rising 2-3 per cent, in the Sensex index.

#5 FII Buying

Foreign portfolio investors (FPIs) have turned net buyers of Indian equities, boosting market sentiment. Over the last two sessions, they pumped in Rs 10,000 crore in the cash segment. The buying spree comes amid optimism around a potential US-India trade deal, a pause in Trump's tariffs, and India's strong economic growth outlook.
 

Why Gensol Engineering Share Price is Falling

In news from the engineering sector, the stock has hit the 5% lower circuit for 16 straight sessions, plummeting to an intraday low of Rs 116.5 on Thursday.

So far in 2025, the stock has crashed 84%, wiping out massive investor wealth.

The dramatic fall follows an interim order issued by the Market Regulator against Gensol Engineering and its promoters-Anmol Singh Jaggi and Puneet Singh Jaggi-over allegations of fund diversion and serious lapses in corporate governance.

The order accused the promoters of treating the listed company like their personal enterprise, siphoning off funds to related parties and indulging in questionable expenditures.

The market regulator highlighted that there was a complete breakdown of internal controls and corporate governance norms within Gensol Engineering.

It was observed that the company's funds had been routed to related parties and used for unrelated expenses, as though the funds were at the disposal of the promoters for personal use.
 

KFin Technologies shares Rally 9%

Moving on to news from the finance sector, KFin Technologies saw a strong upward move in its stock price, gaining 8.49% to close at Rs 1,135.50 on Tuesday, marking its third consecutive day of gains.

The stock has now rallied 13.64% over the last three sessions. Despite being down 5.32% over the past three months, it has delivered an impressive 85% return over the past year.

The surge follows KFintech's announcement of a definitive agreement to acquire a 51% controlling stake in Singapore-based Ascent Fund Services for US$ 34.7 million.

The acquisition marks the beginning of a phased path to full ownership over the next five years. Post-completion of this first leg, KFin Technologies will become the sole promoter of Ascent, with plans to acquire the remaining 49% in three equal tranches (16.33% each) at the end of FY28, FY29, and FY30.

Ascent Fund Services, founded in August 2019, is a growing fund administrator focused on servicing alternative investment funds. It operates 23 offices across 13 countries and manages 576 funds on behalf of over 260 asset managers. The company reported revenue of US$ 13.32 m in FY24, up from US$ 10.12 m in FY23.

The transaction is subject to regulatory clearances from key financial authorities including the Market Regulator, PFRDA, RBI, and international bodies. KFintech expects the first phase of the deal to conclude within the next 3-4 months.

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