HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Key gauges extend rally for 7th day; Sensex crosses 80,100 mark
Apr-23-2025

Indian equity benchmarks continued their positive momentum for the seventh day in a row and settled with gains of over half percent on Wednesday driven by strong gains in IT, TECK and auto shares. Foreign fund inflows and positive global cues also boosted the market sentiment.  

Some of the important factors in today’s trade:  

India Composite PMI hits 8-month high in April: The HSBC Flash India PMI report has showed that India's private sector growth hit an eight-month high in the month of April on the back of buoyant international demand for goods and services. The HSBC Flash India Composite Output Index surged to 60.0 in April from a final reading of 59.5 in March. 

India aims to double share of manufacturing in GDP by boosting sunrise sectors: With an aim to create jobs and drive economic growth, Finance Minister Nirmala Sitharaman has indicated that India is planning to increase the share of the manufacturing sector in country’s GDP from 12 per cent to 23 per cent over the next two decades.

IMF lowers India’s growth projection: The International Monetary Fund (IMF) in its World Economic Outlook (WEO) report for April has lowered growth projection for India to 6.2 per cent for FY26, from earlier estimated rate of 6.5 per cent.  

Rupee falls against US Dollar: Indian rupee depreciated against the US dollar, on surge in crude oil prices and importer demand for the American currency.

Positive global cues: European markets were trading higher due to easing trade tensions and U.S. President Donald Trump's softer stance towards the Fed chairman. Asian markets settled mostly higher on Wednesday after U.S. President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell and also signaled that 145 percent tariffs on Chinese imports will come down substantially.

Finally, the BSE Sensex rose 520.90 points or 0.65% to 80,116.49, and the CNX Nifty was up by 161.70 points or 0.67% to 24,328.95.    

The BSE Sensex touched high and low of 80,254.55 and 79,506.90 respectively. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices ended in green; the BSE Mid cap index rose 0.94%, while Small cap index was up by 0.26%.

The top gaining sectoral indices on the BSE were IT up by 4.00%, TECK up by 3.10%, Auto up by 2.34%, Realty up by 1.37% and Capital Goods up by 1.03%, while Bankex down by 0.94% and Consumer Durables down by 0.93% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 7.72%, Tech Mahindra up by 4.63%, Tata Motors up by 4.59%, Infosys up by 3.69% and Mahindra & Mahindra up by 3.56%. On the flip side, HDFC Bank down by 1.98%, Kotak Mahindra Bank down by 1.80%, SBI down by 1.11%, Axis Bank down by 0.87% and ITC down by 0.68% were the top losers.

Meanwhile, the HSBC Flash India PMI report has showed that India's private sector growth hit an eight-month high in the month of April on the back of buoyant international demand for goods and services. The HSBC Flash India Composite Output Index -- a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors -- surged to 60.0 in April from a final reading of 59.5 in March. However, the HSBC Flash India Manufacturing PMI index also rose to 58.4 in April from 58.1 in March.

According to the report, aggregate sales increased at a sharp pace that was the fastest since August 2024. Once again, manufacturing companies registered a quicker upturn in new business than their services counterparts. Robust intakes of new work exerted upward pressure on the capacity of Indian companies, who observed the fastest rise in outstanding business volumes since August 2022. There were quicker increases in backlogs across both the manufacturing and services economies.

In response to an intensification of capacity pressures, companies remained in hiring mode. Rates of job creation were equal at goods producers and service providers. On the price front, input prices continued to increase across the Indian private sector, but the rate of inflation matched that seen in March and remained below its long-run average. As a result of ongoing increases in cost burdens, private sector firms continued to lift their selling prices. April's rise was marked, faster than in March and stronger than seen on average across the survey history.

The CNX Nifty traded in a range of 24,359.30 and 24,119.95. There were 38 stocks advancing against 12 stocks declining on the index.   

The top gainers on Nifty were HCL Technologies up by 7.74%, Tech Mahindra up by 4.76%, Tata Motors up by 4.44%, Wipro up by 3.87% and Infosys up by 3.75%. On the flip side, HDFC Bank down by 2.09%, Kotak Mahindra Bank down by 2.09%, Grasim Industries down by 1.98%, SBI down by 1.08% and Eicher Motors down by 0.93% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 108.39 points or 1.3% to 8,436.99, France’s CAC rose 158.75 points or 2.17% to 7,485.22 and Germany’s DAX gained 553.25 points or 2.6% to 21,846.78.

Asian markets settled mostly higher on Wednesday, tracking Wall Street’s gains overnight after the US President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell and also signaled that 145% tariffs on Chinese imports will come down substantially. Hong Kong shares surged on hopes of easing US-China trade tensions. US Treasury Secretary Scott Bessent was reported earlier on Tuesday saying that there will be a de-escalation in US-China trade tensions, but negotiations with China have not yet started and would be a slog. Japanese shares rose sharply on weaker yen, while Tesla founder Elon Musk announced that he would significantly scale back his Trump administration work in May to focus on Tesla. However, Chinese shares declined as the IMF slashed its China growth forecast for this year to 4%, well below China’s official target. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,296.36

-3.40

-0.10

Hang Seng

22,072.62

510.30

2.31

Jakarta Composite

6,634.38

96.11

1.45

KLSE Composite

1,501.19

14.94

1.01

Nikkei 225

34,868.63

648.03

1.86

Straits Times

3,832.32

36.91

0.96

KOSPI Composite

2,525.56

38.92

1.54

Taiwan Weighted

19,639.14

845.71

4.31
  RELATED NEWS >>
Most Viewed >>
April 19 , 2025
Tech rout leads FPI sell-off in April
April 22 , 2025
Railways ramps up speed mission with track upg
April 11 , 2025
Global Health and Narayana Hrudayalaya among 1
April 12 , 2025
Markets rebound after Trump's tariff pause; Se
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.