Stock Markets Surge for 7th Straight Day as Sensex Reclaims 80,000 Mark on IT Rally & FII Inflows
Mumbai, April 23, 2025: Indian stock markets continued their upward trajectory for the seventh consecutive session on Wednesday, with the BSE Sensex surging past the 80,000 mark for the first time in four months. The rally was fueled by strong performances in IT and auto stocks, along with sustained foreign institutional investor (FII) inflows and positive global cues.
Key Market Highlights
- The 30-share BSE Sensex jumped 520.90 points (0.65%) to close at 80,116.49, its highest level since December 18, 2024.
- The NSE Nifty rose 161.70 points (0.67%) to 24,328.95.
- HCL Tech led the gains, soaring 7.72% after reporting strong quarterly earnings with a net profit of ₹4,307 crore and securing large deals worth ₹25,500 crore.
- Other major gainers included Tech Mahindra, Tata Motors, Infosys, Mahindra & Mahindra, and TCS.
- Banking stocks faced profit-booking, with HDFC Bank dropping 1.98%, emerging as the biggest loser.
Global & Domestic Factors Driving the Rally
- FIIs purchased equities worth ₹1,290.43 crore on Tuesday, reinforcing market confidence.
- U.S. markets rebounded sharply, with the Nasdaq surging 2.71%, Dow Jones up 2.66%, and S&P 500 gaining 2.51%.
- Asian markets (Kospi, Nikkei, Hang Seng) closed higher, while European markets traded significantly up.
- Brent crude oil prices rose 1.35% to $68.35 per barrel.
Sectoral Performance
- BSE IT (4%) and Teck (3.10%) were top performers, followed by auto (2.34%) and realty (1.37%).
- Midcap and smallcap indices also advanced, gaining 0.94% and 0.26%, respectively.
- Financial services and bankex sectors witnessed profit-booking.
Expert Insights
Vinod Nair, Head of Research at Geojit Investments Limited, noted, “The market rally was driven by strong IT earnings and optimistic global sentiment, though financials saw some correction after recent gains.”
The Sensex had closed at 79,595.59 on Tuesday, while the Nifty ended at 24,167.25.
