Synopsis : Markets opened on a high as global cues turned positive, but early gains fizzled out with Sensex turning flat and Nifty slipping below 24,200. HDFC Bank and Eternal dragged indices, while IT stocks kept sentiment afloat.
Indian equity markets witnessed a volatile session on Wednesday, April 23, 2025, as early optimism driven by global developments faded by mid-morning trade. The BSE Sensex, which opened with gains on hopes of easing US-China trade tensions, erased all early gains and turned flat. Meanwhile, the Nifty50 fell below the 24,200 mark, with key laggards including HDFC Bank and Eternal, both down around 2%.
Markets reacted initially to positive global cues, as US President Donald Trump indicated a potential reduction in tariffs on Chinese imports post a trade deal—though he clarified tariffs wouldn’t be reduced to zero. Adding to the momentum, Trump backed off from threats to fire Fed Chair Jerome Powell, giving a boost to global market sentiment and a rebound in the US dollar.
All 13 sectoral indices opened in the green, led by the IT index, which surged 2.24% in early trade, fueled by strong earnings reports. However, gains were short-lived as profit booking kicked in.
Stock Highlights:
HCL Tech rallied 6% after Q4 results matched Street expectations.
Cyient DLM skyrocketed 12%, buoyed by a 36% jump in quarterly profit.
Waaree Energies gained 9% on the back of a 34% YoY rise in PAT.
Ather Energy announced its IPO price band at ₹304-321 per share.
On the downside, Havells India fell 5% amid demand concerns in the consumer electrical space.
Global Market Overview:
S&P 500 Futures rose 1.6%
Japan’s Topix advanced 2%
Australia’s S&P/ASX 200 gained 1.6%
Hong Kong’s Hang Seng jumped 2.4%
Shanghai Composite edged up 0.3%
Euro Stoxx 50 Futures rose 1.6%
Despite strong earnings and upbeat global cues, local market sentiments turned cautious, possibly due to valuation concerns and sector-specific pressures. Investors now await further cues from upcoming domestic earnings reports and macroeconomic data for clearer direction.
Disclaimer : This article is for informational purposes only and should not be considered as financial advice. Please consult a professional financial advisor before making investment decisions.
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