Post Market, 16 April 2026: Markets Fail To Hold Gains As Profit Booking Sets In

It was a choppy session for the markets on Thursday. The start was positive, but the gains did not last long.

Selling picked up as the day went on, pulling indices lower from their highs. The tone stayed cautious through the session.

Closing Bell

Sensex fell over 120 points to close at 77,988.68. Nifty 50 also ended lower and lost about 35 points to settle at 24,196.75.

Broader Markets

The broader market saw some positive traction. Midcaps moved up around 0.6%. Smallcaps did better, adding nearly 1%.

Sector-wise, the trend was mixed. IT, capital goods and metal indices gained about 1% each, while auto, banking and oil & gas stocks ended lower.

What Moved The Markets Today?

Markets started on a positive note, supported by easing global cues. Hopes around progress in US-Iran talks and softer crude prices helped sentiment early on. Brent crude was trading around $94.68 per barrel, slightly lower than the previous close, while the rupee also opened marginally stronger at ₹93.28 against the US dollar.

There was also some support from foreign flows. Foreign institutional investors were net buyers to the tune of around ₹666 crore in the previous session, which likely aided the positive start, especially after a phase of consistent selling this year.

However, the early gains did not hold for long.

As the day went on, some profit booking started to come in after the sharp rally in the previous session, where the Sensex had gained over 1,200 points and the Nifty nearly 390. In setups like this, especially when there is still some uncertainty, gains tend to get booked quickly. That showed up through the session, with indices gradually coming off their highs.

There were also some technical factors in play. Nifty faced resistance near the 24,400 mark, which seemed to cap the upside. Sectoral pressure added to it, with selling seen in a few pockets. Selling in pockets like auto and FMCG stocks weighed on the indices, dragging them lower from the day’s highs.

The ceasefire situation, meanwhile, remained unclear. That kept sentiment a bit cautious and limited any real follow-through on the early optimism.

Even so, volatility did not spike much. India VIX was around 18.08, which suggests that while markets did come off, the fall was not seen as extreme.

This indicates that participants are not overly worried at this stage and are gradually getting used to the evolving situation.

Commodities Watch: Gold And Silver

Gold and silver opened higher on Thursday, tracking supportive cues and continued interest in safe-haven assets.

In early trade (around 09:05–09:14 IST), gold futures on MCX rose 0.48% to ₹1,54,692 per 10 grams, while silver gained 1.29% to ₹2,54,979 per kg.

By the end of the session (around 15:26–15:41 IST), prices had come off their highs. Gold was at ₹1,54,240 per 10 grams, while silver was down to ₹2,52,641 per kg.

Also Read - India Auto Industry Posts Record Sales Across Segments In FY26

What Should Investors Watch Next?

The way markets have behaved over the last few sessions continues to stand out. While there is some support coming in, follow-through has been limited, with sentiment shifting quickly as new developments come in.

A lot now depends on how things unfold in the coming days. The situation around the conflict is still not very clear. This continues to keep sentiment cautious.

Alongside that, the US sanction waiver on Russian and Iranian oil has expired. That could start to show up in supply dynamics and pricing, which is relevant for India.

Sources:

Moneycontrol

Livemint