Indian stock markets showcased remarkable strength today, extending their winning streak for the seventh consecutive session and scaling significant psychological milestones. Positive global cues and a stellar performance by the IT sector propelled the indices higher.
Today’s Market Highlights (April 23, 2025)
- Sensex Soars: The BSE Sensex surged 520.90 points (0.65%) to close at 80,116.49, crossing the 80,000 mark during the session for the first time since early January 2025.
- Nifty Tops 24,300: The NSE Nifty 50 gained 161.70 points (0.67%) to settle at 24,328.95.
- Seventh Day Gains: This marks the seventh straight session of gains for the benchmark indices, adding substantial investor wealth (approx. ₹3 lakh crore today alone).
- IT Sector Leads Charge: The rally was heavily driven by IT stocks, with the Nifty IT index rocketing up by 4.34%. This followed strong Q4 results and positive commentary from major players like HCL Technologies.
- Global Cues Positive: Optimism surrounding easing US-China trade tensions and supportive comments from US President Trump regarding the Federal Reserve boosted sentiment globally, spilling over into Indian markets.
- Sectoral Action: Besides IT, the Nifty Auto index also saw strong gains (+2.38%). However, the Banking sector witnessed profit-taking after recent rallies, with the Nifty Bank index closing down 0.50%.
- Volatility Rises: Despite the gains, the India VIX, a measure of market volatility, climbed approximately 5%, suggesting underlying caution.
Movers & Shakers
- Top Gainers (Nifty 50): HCL Technologies (+7.7%), Tech Mahindra, Tata Motors, Infosys, Mahindra & Mahindra.
- Top Losers (Nifty 50): HDFC Bank (-1.98%), Kotak Mahindra Bank, State Bank of India, Axis Bank.
- Stock Specific News: AU Small Finance Bank jumped 7% after reporting strong Q4 profits. Muthoot Finance declined 4%. Jammu & Kashmir Bank saw a significant drop of nearly 9%.
The market ended the day on a decidedly bullish note, particularly buoyed by the technology sector’s performance. Investors will be watching closely to see if this momentum can be sustained amidst ongoing global and domestic developments.