Indian Markets Extend Winning Streak: Sensex closes at 80,116.49, Nifty at 24328.95

Indian benchmark equity indices continued their upward trend for the seventh consecutive session on Wednesday, 23rd April, 2025 closing the day on a positive note. The Sensex closed above the 80,000 mark, settling 521 points higher at 80,116.49. The Nifty 50 also finished strongly at 24,328.95 , gaining 161.70 points or 0.67% . 

Key Factors Driving the Rally

Positive market sentiment was driven by easing US-China trade tensions, as President Trump signalled a potential reduction in tariffs and Treasury Secretary Scott Bessent called current duties unsustainable, anticipating a near-term resolution. Trump’s retreat from removing Fed Chair Jerome Powell also bolstered investor confidence, lifting the dollar. A strong rally in tech stocks, led by HCL Tech’s upbeat growth outlook and minimal tariff impact, further supported gains. This was reinforced by a sharp rebound in US markets- Dow up 2.66%, S&P 500 up 2.51%, and Nasdaq up 2.71% -and gains in Asian indices like the Nikkei 225 and Kospi. Elon Musk’s announcement to reduce government commitments to focus on Tesla added further relief.

Sectoral Performance and Stock Movements

Technology and auto stocks were the standout performers, leading the market surge. All 13 sectors showed gains at the open, with the IT index leading with a 4.34% jump. HCL Technologies was a key driver, rising over 7% following its Q4 earnings release. Brokerage houses are reportedly bullish on HCL Tech due to the company seeing limited tariff impact. Other prominent tech gainers included Tech Mahindra (up 4.76%), Infosys (up 3.75%), and Wipro (3.87%). Tata Motors also saw gains of 4.44%. Mahindra & Mahindra joined the rally with a gain of 2.97%. Some financial heavyweights like Bharti Airtel, HDFC Bank, Kotak Bank, and Bajaj Finance saw declines, dragging the index. Muthoot Finance fell 3.46%, being a major loser in the Nifty Midcap 100. Among stocks reacting to earnings, AU Small Finance Bank's share price surged over 7% after reporting an 18% YoY rise in net profit for Q4FY25 to ₹504 crore. Waaree Energies saw its share price zoom 14.76% as its Q4 PAT rose 34% YoY to ₹619 crore, alongside a 36.4% increase in revenue to ₹4,004 crore. Cyient DLM shares increased 2% after posting a 36% jump in Q4 PAT to ₹32 crore.

Broader Market Metrics

The broader market displayed a mixed tone during the intraday session. Out of 2,792 stocks traded, 1,228 advanced while 1,498 declined. 44 stocks touched their 52-week highs, with 6 slipping to 52-week lows. 107 stocks hit upper circuit limits, while 35 were locked in the lower circuit. The volatility index, India VIX, shot up 4.5% to the 15.92 level.

Commodity Markets Update

Crude oil prices edged higher on Wednesday, with WTI trading at $64.51 and Brent at $68.83. Gold prices had recently crossed the ₹1 lakh mark per 10 grams, with 24-carat gold jumping to a lifetime high of ₹1,01,600/10 grams, driven by buying ahead of Akshaya Tritiya and the wedding season. However, gold prices fell on Wednesday as concerns eased after Trump stepped back from threats regarding the Fed Chair and indicated potential progress in trade talks, reducing demand for safe-haven assets. The outlook suggested gold prices were likely to remain under pressure today, extending recent weakness. Bitcoin surpassed the $90,000 mark for the first time since March and surged 5.01% to $91,713.49.

Current Market Update

• The Sensex is trading at 79,754.29 up by 158.70 points or 0.20%.
• The NSE Nifty 50 is trading at 44.70 points or 0.18% higher at 24,212.00.

Top gainers of the Market

1. HCL Technologies (HCLTECH)

• Opening Price: ₹1,555.00
  
  
• LTP: ₹1,593.30
  
  
• % Change: +7.66%
  The rally got a big push after HCL Technologies reported a better-than-expected Q4 performance, a 8% rise in net profit. This strong showing is helping offset worries triggered by the cautious guidance issued earlier by peers like Infosys and TCS.

2. Tech Mahindra (TECHM)

• Opening Price: ₹1,418.90
  
  
• LTP: ₹1,439.60
  
  
• % Change: +4.58%
  Tech Mahindra, a major player in the IT and telecom solutions space, has seen renewed buying interest. The uptick may be attributed to the positive momentum of the Nifty IT index by 4.23% today.

3. Infosys (INFY)

• Opening Price: ₹1,446.00
  
  
• LTP: ₹1,482.00
  
  
• % Change: +4.16%
  Infosys share price increased after overnight gains in US tech stocks and a positive shift in investor sentiment after former US President Donald Trumpsignalled a softer stance on Chinese tariffs.

4. Wipro (WIPRO)

• Opening Price: ₹237.20
  
  
• LTP: ₹241.45
  
  
• % Change: +3.12%
  Wipro’s share price increased due to a positive shift in investor sentiment after former US President Donald Trumpsignalled a softer stance on Chinese tariffs. This has led to increase in share price of IT companies and the Nifty IT Index as well. The Positive Q4FY25 results of the company is also a reason for increase in the share price.

5. Tata Motors (TATAMOTORS)

• Opening Price: ₹635.95
  
  
• LTP: ₹646.85
  
  
• % Change: +2.54%
  Tata Motors' share price increase today may be attributed to a combination of factors, including the announcement of commercial vehicle price hikes, a potential pause in global tariffs, and positive remarks from the CFO about the company's future prospects. These factors have boosted investor confidence and contributed to the stock's upward movement. 

Top Losers of the Market

1. Trent Ltd (TRENT)

• Opening Price: ₹5,350.50
  
  
• LTP: ₹5,280.00
  
  
• % Change: -0.81%
  Trent Ltd, a Tata Group retail arm, operates brands like Westside and Zudio. The stock decline reflects potential profit booking after a strong rally in recent months, possibly influenced by market-wide volatility or caution ahead of earnings. Also, a decline came after a weaker-than-expected Q4 business update of the company.

2. Eicher Motors (EICHERMOT)

• Opening Price: ₹5,789.00
  
  
• LTP: ₹5,716.00
  
  
• % Change: -1.18%
  The share price of Eicher Motors is falling today primarily due to profit booking pressure after recent gains, coupled with broader market volatility and cautious investor sentiment. 

3. Grasim Industries (GRASIM)

• Opening Price: ₹2,750.10
  
  
• LTP: ₹2,699.00
  
  
• % Change: -1.83%
  Grasim Industries’ share price today is primarily attributed to technical resistance levels triggering profit booking after a recent rally, combined with cautious investor behaviour amid high valuations.

4. Axis Bank (AXISBANK)

• Opening Price: ₹1,225.30
  
  
• LTP: ₹1,199.70
  
  
• % Change: -1.41%
  One of India’s top private-sector banks, Axis Bank may be under pressure due to subdued outlook on NIMs (net interest margins) or caution surrounding credit growth. Banking stocks often react strongly to rate and liquidity outlooks. 

5. Shriram Finance (SHRIRAMFIN)

• Opening Price: ₹709.50
  
  
• LTP: ₹693.20
  
  
• % Change: -1.43%
  Shriram Finance is a major player in commercial vehicle lending and rural finance. The decline might signal investor concerns around asset quality or rising funding costs in the NBFC (non-banking financial company) space.

Market Open

The markets carry forward gains for the seventh straight session. The Nifty 50 opened 192.05 points or 0.79% at 24,357.60 while the Sensex increased 546.50 points or 0.69% to re-take the 80,000 mark.

Factors Influencing Market Sentiment

• US Treasury Secretary Scott Bessent informed investors at an exclusive meeting that he predicts a "very near–term" relaxing of President Trump's tariff war of words with China, labelling the ongoing senior-level tariff dispute as unsustainable.
• The Wall Street overnight rally was dramatic: the Dow Jones Industrial Average jumped 1,016.57 points (2.66%) to close at 39,186.98. The S&P 500 rose 2.51% to close at 5,287.76, and the Nasdaq Composite increased 2.71% to close the day at 16,300.42.
• Gold Today: In India, gold also continued to rise, pushed up by heavy buying by jewellers and traders preparing for Akshaya Tritiya and wedding season. 24-carat gold price skyrocketed to an all-time high of ₹1,01,600 per 10 grams compared to ₹99,800 on the previous day.
• Elon Musk: Tesla stockholders heaved a sigh of relief when Elon Musk said that he will dial back his government activities to spend more time on the company. Investors had been uncomfortable with his political entanglements with Trump, his calls for the firing of some U.S. government officials, and his support of right-wing organizations in Europe—factors considered as possible risks to Tesla's brand.

Global Backdrop:

• US Dollar: The US Dollar Index (DXY), which tracks the value of the dollar against a basket of six foreign currencies, rose 0.17% to 99.09 on Wednesday morning. The index assesses the strength or weakness of the US dollar relative to major currencies. The basket includes currencies like the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee lost 0.07% to end at 85.20 against the dollar on April 22.

• Gold Rate Today: The gold glows in local markets, touching close to the crucial Rs 1 lakh per 10 grams level. The price of 24-carat gold today rose 1.76% from last week to Rs 97,570 per 10 grams, a record high. The price of gold has increased by 11.24% compared to the previous one month. The rate of 22 kt gold today is Rs 89,439 per 10 grams. The price of 18-carat gold today is Rs 73,178.
• Crude Oil: The prices of crude oil went up on Wednesday. WTI crude prices were at $64.05, up by 0.57%, and Brent crude prices were at $67.82, up by 0.56%, on Wednesday morning.

Stocks in Focus:

• HCL Technologies: Q4 net profit ₹4,307 Cr (–6.2% QoQ; +8.1% YoY); revenue ₹30,246 Cr (+1.2% QoQ; +6.1% YoY); interim dividend of ₹18/share.
• Bharti Airtel & Bharti Hexacom: Secured rights to 400 MHz in the 26 GHz band from Adani Data Networks across key circles (Gujarat, Mumbai, Andhra Pradesh, Rajasthan, Karnataka, Tamil Nadu).
• Waaree Energies: Q4 net profit ₹618.9 Cr (+34.1% YoY); revenue ₹4,003.9 Cr (+36.4% YoY); order book at ₹47,000 Cr.
• Varun Beverages: Began commercial operations at its new greenfield plant in Prayagraj, UP (carbonates, juices, packaged water).
• RBL Bank: British International Investment exited its 3.82% stake (₹428.6 Cr at ₹184.74/share); Unity Associates sold 8.81 L shares at ₹187.39/share.
• Power Finance Corporation: Pursuing recovery of ₹307 Cr dues from Gensol Engineering.
• Bharat Forge: CCI cleared its 100% takeover of AAM India Manufacturing (subject to voluntary modifications).
• Havells India: Q4 profit ₹518 Cr (+16% YoY); final dividend declared at 600%.
• Cyient DLM: Q4 consolidated profit ₹31 Cr (+36.5% YoY); revenue ₹428 Cr (+18.3% YoY).
• AU Small Finance Bank: Q4 net profit ₹503.7 Cr (–4.7% QoQ); Net Interest Income ₹2,093.9 Cr (+3.5% QoQ).
• Tata Communications: Q4 net profit ₹1,040.5 Cr (+223.6% YoY); revenue ₹5,990.4 Cr (+6.1% YoY).
• Ashoka Buildcon: Awarded a ₹568.86 Cr gauge-conversion contract by Central Railway.
• Ambuja Cements: Acquired an additional 37.8% promoter stake in Orient Cement, taking its total holding to 46.66%.

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