Market Performance
In a strong show of momentum, Indian equity markets continued their winning streak for the seventh consecutive session on April 23, 2025.
- Sensex soared by 521 points, ending at 80,116, marking its first close above the 80,000 mark in over four months.
- Nifty reclaimed the 24,300 level, settling at 24,329, up by 162 points.
This rally pushed both benchmark indices to levels not seen since December 2024, driven by broad-based buying and optimism in the corporate earnings season.
Main News
Despite the market-wide gains, the banking sector saw a dip due to profit booking:
- Nifty Bank dropped by 277 points, closing at 55,370, a 0.5% fall.
- Major drags included HDFC Bank and Kotak Bank, both witnessing selling pressure.
In contrast, midcap stocks outshined frontline banking names:
- Nifty Midcap 100 surged by 644 points, closing at 55,041.
- The rally highlights increased investor focus on mid-sized companies with strong fundamentals.
Company Highlights
IT Sector: Strong Performer of the Day
- Nifty IT index rose by 4%, marking its biggest single-day jump in 9 months.
- The sector was lifted by HCL Technologies’ robust Q4 results and positive future guidance.
- All IT stocks in the index ended in green, posting gains between 3% to 6%.
Auto Sector: Gains Driven by EV Sentiment
- Most auto stocks closed positive, with Mahindra & Mahindra and Tata Motors leading the charge.
- Sona BLW stood out with a 6% jump, fuelled by optimistic commentary from Tesla, sparking fresh buying in EV-focused stocks.
Summary
The Sensex and Nifty news today highlights a strong bull run backed by robust earnings and midcap resilience.
- Sensex crossed 80,000, while Nifty settled above 24,300, both touching four-month highs.
- IT and auto sectors led the gains, while the banking index saw mild correction.
- Investor interest is clearly expanding beyond large-cap names, pointing to confidence in broader economic recovery.
With this sustained rally and sectoral rotation at play, all eyes will now be on upcoming corporate results to sustain the momentum.
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