Stock Market LIVE: Sensex up nearly 1,000 points, Nifty 50 reclaims 24,000

Shares of ITC Ltd. and Godfrey Phillips India Ltd. are in focus today after reports that cigarette sales fell up to 5% in March and declining further in April as a direct impact of hike in goods and services tax for so-called sin goods.

According to Informist, 67-mm cigarettes saw the steepest decline in demand. Geographically, cigarette sales in East India were the most affected.

The 30-share S&P BSE Sensex is up as much as 1.13%—or 869.31 points—to an intraday high of 77,501.40 points, even as the wider NSE Nifty 50 reclaims the 24,000 levels.

Thirteen out of the 15 sectoral indices compiled by the NSE fell, led by Nifty IT, even as Nifty Media emerged as the top gainer.

Only seven out of the Nifty 50 stocks are in the red, with Asia Paints Ltd. emerging as the top gainer and Sun Pharmaceutical Industries Ltd. emerging as the top loser.

“It is important to note that many stocks are hitting 52-week highs, even all-time highs, even in this challenging market environment,” VK Vijayakumar, chief investment strategist at Geojit Investments Ltd., said in an email.

“Investors can look at these stocks and analyse the reasons behind the resilience of such stocks. Fundamentally sound growth stocks will do well even during weak market conditions.”

Shares of Wipro Ltd. rose as much as 2.87% to ₹208.70 apiece on the National Stock Exchange after the IT firm announced plans to consider its first share buyback in three years.

The board of directors will discuss a Wipro buyback plan on 16 April, along with the company's quarterly results.

As on 31 December 2026, the Bengaluru-based company had ₹57,394 crore cash on its books. It has committed to distribute more than 70% of net income to shareholders between FY26 and FY28.

The rupee appreciated 10 paise to 92.41 against the US dollar in early trade today, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.

Forex traders said the rupee is likely to see high volatility intraday as the deadline for RBI's instructions to banks to curb their overnight positions to $100 million closes today.

At the interbank forex market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.

On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.

Options traders are positioning for renewed turbulence in India's stock market as diplomatic friction threatens to undermine a fragile US-Iran ceasefire.

A day before high-stakes negotiations in Pakistan, NSE data from Thursday revealed a surge in option selling. The activity suggests the Nifty 50 will face stiff resistance at the 24,000 mark, while downside support is expected to hold between 23,000 and 23,500 through Tuesday. Read more.

The Nifty IT index, a gauge of India's largest IT stocks, fell today after IT bellwether Tata Consultancy Services Ltd. recorded its first annual dollar revenue decline since listing in FY26. Only Wipro Ltd. bucked the trend after the Bengaluru-based announced a share-buyback plan.

Shares of Tata Consultancy Services Ltd. fell as much as 2.23% to ₹2,530.00 apiece on the BSE after India's IT bellwether recorded its first annual dollar revenue decline since listing.

A UK court has ordered India's SpiceJet Ltd. to pay about $8 million to an aircraft engine lessor over unpaid rent and maintenance charges for three engines, in the latest setback for the cash-strapped airline. Read more.

Reliance Industries Ltd. has capped fuel purchases across its petrol pumps as the Iran war continues to choke off supplies despite a tentative ceasefire. Read more.

• JSW Steel Ltd. registers 8% year-on-year rise in total crude steel production in FY26.

• Ashiana Housing Ltd. buys 28.55 acres of land in Pune with a sales value potential of ₹1,800 crore.

• Container Corp. posts total throughput of 1.4 million TEUs, up 6% year-on-year.