American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Indian markets open: Sensex reclaims 80K, Nifty nears 24.3K as tech rally powers 7th day gains

by admin April 23, 2025
April 23, 2025
Indian markets open: Sensex reclaims 80K, Nifty nears 24.3K as tech rally powers 7th day gains

Indian equity benchmarks extended their winning streak into a seventh consecutive session today, propelled higher by a vigorous rally in technology stocks and positive cues flowing from a strong overnight performance in US markets.

The Sensex reclaimed the psychological 80,000 mark for the first time in over three months, while the Nifty 50 climbed towards the 24,300 level.

Sensex reclaims milestone, Nifty advances steadily

Opening on a positive note, the markets sustained momentum throughout the session.

The S&P BSE Sensex ultimately closed significantly higher, although specific closing figures varied slightly from the initial text.

The key achievement was breaching the 80,000 level, a feat last accomplished on January 3, 2025, marking 73 trading days or 110 calendar days since.

The Nifty 50 also saw smart gains, trading near the 24,300 mark during the session before settling slightly lower but still firmly in positive territory.

Tech sector takes center stage

The standout performer today was undoubtedly the information technology sector.

The Nifty IT index soared an impressive 3.2% to 35,025.65, significantly outperforming other sectoral gauges. Leading the charge was HCL Technologies, whose shares jumped a remarkable 7.4% to an intra-day high of Rs 1,588.

This surge followed the IT giant’s robust Q4 earnings report and positive guidance, which brokerage houses viewed bullishly, particularly noting the company’s perceived limited exposure to potential US tariff impacts.

HCLTech’s CEO further bolstered sentiment by stating the company had seen no tariff impact so far.

The positive momentum lifted the entire Nifty IT pack, with all constituents reportedly trading higher, a stark contrast to recent sluggishness in the sector.

Drivers behind the market ascent

Several factors converged to fuel today’s rally:

  • US market rebound: A powerful overnight rally on Wall Street provided a significant tailwind. US indices snapped a four-day losing streak, closing sharply higher (Dow +2.66%, S&P 500 +2.51%, Nasdaq +2.71%). This US upswing was partly attributed to comments from US Treasury Secretary Scott Bessent.
  • Trade de-escalation hopes: Speaking to investors privately, Bessent reportedly expressed expectations for a “de-escalation” in the US-China trade war in the “very near future,” calling the high-tariff standoff unsustainable. This eased investor anxieties globally.
  • Musk refocusing on Tesla: Relief among Tesla investors after CEO Elon Musk indicated he would scale back his government-related work and dedicate more time to the electric vehicle company also contributed to the positive US backdrop, addressing concerns about his political activities potentially harming the brand.
  • Commodity context: While domestic gold prices saw activity linked to festivals and wedding season, pushing 24-carat rates to reported highs near Rs 1,01,600/10 grams, the global outlook presented a different picture.

Gainers led by tech, financials lag slightly

Reflecting the tech dominance, today’s top gainers on the main indices included HCLTech (surging around 7.14%), followed by Tech Mahindra (+4.20%), Infosys (+3.34%), and TCS (+2.14%).

Automaker M&M also joined the rally with a gain of 2.37%.

On the losing side, some profit-taking or consolidation was seen in select financials and telecom, with Bharti Airtel (-0.32%), HDFC Bank (-0.44%), Kotak Bank (-0.45%), Bajaj Finance (-0.46%), and Eternal [-0.48%] seeing minor dips.

Despite some slight pullback in select heavyweights, the overall market breadth remained positive, indicating continued underlying strength as the winning streak extended to seven sessions.

The post Indian markets open: Sensex reclaims 80K, Nifty nears 24.3K as tech rally powers 7th day gains appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Cantor, Tether, and SoftBank back $3B Bitcoin fund amid Trump-era crypto momentum
next post
Asian markets open: Stocks surge as Trump eases Fed firing threat, trade hopes build

Related Posts

Top 2 retail stocks to buy ahead of...

November 27, 2024

Market jitters resurface: US stocks plunge on Powell’s...

April 17, 2025

Israel attack on Iran sends travel stocks sinking...

June 14, 2025

$3.0 trillion in AI capex: could that benefit...

January 20, 2025

Asian stocks jittery ahead of key US inflation...

December 20, 2024

Strava to acquire Runna amid surge in demand...

April 17, 2025

Fed Chair Powell says holding rates high for...

July 12, 2024

Very bad news for the popular SCHD ETF

November 21, 2024

Avoid the Tesla stock: buy Xpeng, BYD, Nio...

March 25, 2025

Long AMT: bullish breakout and rising channel signal...

November 28, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved