Top Investing Today
  • Investing
  • Politics
  • Stock
  • Economy
  • Editor’s Pick
  • Investing
  • Politics
  • Stock
  • Economy
  • Editor’s Pick
No Result
View All Result
Top Investing Today
No Result
View All Result
Home Editor's Pick

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

BoldThemes by BoldThemes
April 23, 2025
in Editor's Pick
0
Indian markets open: Sensex reclaims 80K, Nifty nears 24.3K as tech rally powers 7th day gains
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
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

Previous Post

Asian markets open: Stocks surge as Trump eases Fed firing threat, trade hopes build

Next Post

Cantor, Tether, and SoftBank back $3B Bitcoin fund amid Trump-era crypto momentum

BoldThemes

BoldThemes

Next Post
Cantor, Tether, and SoftBank back $3B Bitcoin fund amid Trump-era crypto momentum

Cantor, Tether, and SoftBank back $3B Bitcoin fund amid Trump-era crypto momentum

  • Trending
  • Comments
  • Latest
The Connectivity Standards Alliance Product Security Working Group Launches the IoT Device Security Specification 1.0

The Connectivity Standards Alliance Product Security Working Group Launches the IoT Device Security Specification 1.0

March 19, 2024
Israel says UN ‘deceiving’ world over aid delays to Gaza

Israel says UN ‘deceiving’ world over aid delays to Gaza

March 28, 2024
Gold and Silver Set to Smash Records: Could 2024 Be Their Biggest Year Yet?

Gold and Silver Set to Smash Records: Could 2024 Be Their Biggest Year Yet?

May 17, 2024
Conservative backlash to Israel aid bill could force Johnson to seek Democrat support again

Conservative backlash to Israel aid bill could force Johnson to seek Democrat support again

February 6, 2024

Fetterman defies ‘punitive’ punishment for breaking with Democratic Party during bipartisan discussion

0
Amid growing criticism of Biden foreign policy, experts credit wins while leaving room for improvement

Amid growing criticism of Biden foreign policy, experts credit wins while leaving room for improvement

0
Conservative backlash to Israel aid bill could force Johnson to seek Democrat support again

Conservative backlash to Israel aid bill could force Johnson to seek Democrat support again

0
Precision Manufacturing For Sensitive Equipment With CNC Machining

Precision Manufacturing For Sensitive Equipment With CNC Machining

0

Fetterman defies ‘punitive’ punishment for breaking with Democratic Party during bipartisan discussion

June 2, 2025

Sens Fetterman and McCormick show Washington how to work together again

June 2, 2025

Trump admin asks SCOTUS to allow it to move forward with plans to slash federal workforce

June 2, 2025

GOP senator demands FBI probe Biden-era vetting process for Boulder terror suspect: ‘Under attack’

June 2, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent News

    Fetterman defies ‘punitive’ punishment for breaking with Democratic Party during bipartisan discussion

    June 2, 2025

    Sens Fetterman and McCormick show Washington how to work together again

    June 2, 2025

    Trump admin asks SCOTUS to allow it to move forward with plans to slash federal workforce

    June 2, 2025

    GOP senator demands FBI probe Biden-era vetting process for Boulder terror suspect: ‘Under attack’

    June 2, 2025
    • About Us
    • Privacy Policy
    • Terms & Conditions
    • Contact

    Copyright © 2024 Topinvestingtoday.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Politics
    • Stock
    • Economy
    • Editor’s Pick

    Copyright © 2024 Topinvestingtoday.com. All Rights Reserved.