Strong Q4 Results Push PSU Bank Index Higher; Zee Drives Media Sector Gains - Paper by Pocketful

Apr 20, 2026

ICICI Bank (+1.10%): Stock rose despite flat market; net profit increased 8.5% YoY to ₹13,702 crore from ₹12,629.6 crore. Bank declared ₹12 dividend.
HDFC Bank (-0.90%): Stock declined despite steady Q4; net profit rose 9% YoY to ₹19,221 crore from ₹17,616 crore, while revenue grew 5% to ₹46,280 crore. Bank declared ₹13 final dividend and ₹2.5 interim dividend.
H.G. Infra Engineering (+2.40%): Stock advanced after incorporating a wholly owned subsidiary to execute ₹1,582 crore NHAI highway project in Odisha under Hybrid Annuity Mode.
EMS (+7.36%): Stock rallied sharply after emerging as lowest bidder for two UP Jal Nigam projects in Varanasi, with combined estimated order value of ₹208.6 crore.

Media | Nifty Media (+0.90%): Index rose after two consecutive days of decline, supported by Zee’s ₹116 crore investment in PhantomFX, boosting sentiment around content, VFX, and AI-led media growth. Led by 3 gainers, while 7 stocks declined.
PSU Bank | Nifty PSU Bank (+0.87%): Index outperformed on strong Q4 earnings, improving asset quality outlook, and stable recovery expectations. Led by SBI, Bank of Baroda, and Canara Bank.
IT | Nifty IT (-0.70%): Index declined, becoming worst-performing sector due to profit booking in Wipro following its Q4FY26 results. With 1 gainer and 9 losers.
Realty | Nifty Realty (-0.62%): Index declined due to profit booking after recent gains and concerns over slowing housing demand and affordability pressures, with most losses in Phoenix Mills, Lodha Developers, and DLF.

Technical Level: Nifty opened flat, declined nearly 140 points initially, then recovered sharply amid high volatility and moved upward. Support was placed at 24,240, while resistance stood at 24,480, with a slight dip near closing.
Advance-Decline Ratio: Market breadth remained weak, with 1,261 advances against 2,043 declines, indicating broad-based selling pressure and negative market sentiment.
The Big Picture: Oil prices surged sharply as U.S.-Iran tensions escalated following attacks on commercial ships near the Strait of Hormuz. WTI crude jumped 5.6% to $88.54, while Brent rose 4.3% to $94.18, amid fears of supply disruption and renewed geopolitical uncertainty impacting global energy markets.
FII/DII Activity (April 17, 2026): FIIs were net buyers worth ₹683 crore, while DIIs turned net sellers, offloading equities worth ₹4,721 crore.

IPO Corner: Citius Transnet InvIT IPO and Mehul Telecom SME IPO set to close for subscription tomorrow.
Macro: UK Unemployment Rate (Feb) and US Retail Sales MoM (Mar) are set to be released tomorrow.
Index Watch: Nifty opened flat and faced early pressure due to rising crude oil prices but recovered quickly and traded in a range. FII buying supported market sentiment despite DII profit booking. Technically, resistance is near 24,600 and support around 24,000. OI data still shows some selling pressure, keeping the market range-bound for now.

Advance: In trading, Advance refers to a rise in the price of a stock, index, or market during a trading session.When more stocks move higher than lower, it signals positive market momentum and strong buying interest.

Pocketful Paper