The Information Technology (IT) sector emerged as the top performer, with the Nifty IT index climbing 2.24%
On April 23, 2025, a whirlwind rally on the Indian stock market was triggered by encouraging global signals and a rekindled investor spirit. The BSE Sensex soared by 515.75 points or 0.65% to close at 80,111.34, with the NSE Nifty 50 up 140.45 points or 0.58% at 24,307.70. Both indices, in this case, chalked up gains for the seventh day in a row, indicating a sustained bullish sentiment in the market.
The Global Factors That Fueled The Market Rally
Investor sentiments were bolstered by U.S. President Donald Trump’s announcement indicating potential de-escalation in trade tensions with China. Trump stated tariffs on Chinese imports “could be substantially reduced” under a new trade agreement, thus relieving fears of an extended trade war. Further supporting to calm the global markets was Trump’s clarification that he has no intention to dismiss Federal Reserve Chair Jerome Powell.
This, among others, led to causing positive relieves for Asian markets. Japan’s Nikkei 225 index climbed 1.7% up, Australia’s ASX 200 followed gaining 1.6% while Hong Kong’s Hang Seng index firmed by 1.7%. The positive momentum spilled over to the Indian markets, where all thirteen sectoral indices on the NSE opened in green.
Sectoral Performance: IT Sector Leads The Charge
The IT sector was the top sector, with the Nifty IT index tracking up by 2.24%. HCL Technologies spearheaded the rally with a 5.1% gain after it projected decent growth for fiscal 2026 between 2%-5%-above industry expectation. Other major IT firms, including Infosys and TCS, also saw strong price gains amid optimistic investor sentiments regarding sector growth.
The banking sector remained resilient, with the Nifty Bank index newly recorded all-time intraday highs of 56,098.7 in morning trading, state-supported with easing global economic uncertainties combined with expectations of sustained credit growth.
In Broader Markets
Positive momentum was building for the broader markets too. Nifty Next 50 opened at 65,829.25, posting minor gains of up 0.43%. The mid-cap and small-cap stocks saw increased investor interest, and the BSE Midcap and Smallcap indices both rose around 0.5% during early trade.
A Glance at Global Markets
U.S. markets registered a strong rebound on April 22, 2025, with the S&P 500 up 2.5%, Dow Jones Industrial Average up 2.7%, and Nasdaq Composite up 2.7%. The rally has been propelled by better-than-expected corporate earnings and rumors of a trade positive turn.
In the bond market, longer-dated U.S. Treasury yields eased, with the 10-year yield easing to 4.39% from 4.42% on reduced concerns over aggressive rate cuts . Crude oil prices ticked higher, with U.S. benchmark crude up $1.23 to $64.31 a barrel, while Brent crude climbed 44 cents to $67.88 a barrel
Looking Forward
The strong move of the Indian stock market on April 23, 2025, underlines the positive reflections on the scenario of easing global trade tensions with supportive domesti..
