Sensex Surges Over 1,000 Points, Nifty Above 24,150; Bank Nifty At Record High – News18
Last Updated:
The BSE Sensex on Monday trades higher by 1,047 points at 79,600.17 in the afternoon trade, while the NSE Nifty reclaims 24,100 and surges 318 points to trade at 24,170 in strong buying across sectors, mainly banks and IT.
Sensex Today.
The BSE Sensex on Monday traded higher by 1,047 points at 79,600.17 in the afternoon trade, while the NSE Nifty reclaimed 24,100 and surged 318 points to trade at 24,170 in strong buying across sectors, mainly banks and IT. The Bank Nifty also hit a record high of 55,403 in the afternoon trade.
Among the 30 shares of the Sensex, 24 were trading in green. Among the top gainers were Tech Mahindra, IndusInd Bank, Bajaj Finserv, Axis Bank, Infosys, and HCL Tech rising by up to 5.56 per cent. However, Adani Ports, ITC, Hindustan Unilever, Bharti Airtel, and Asian Paints were the losers falling by up to 2.05 per cent.
The advance-decline ratio stood at 2,880-1,099. A total of 98 shares traded at their 52-week highs, while 44 stocks were trading at 52-week lows.
Banking shares surged on Monday following strong Q4 results. ICICI Bank’s stock rose by 2 per cent to hit its fresh all-time high of Rs 1,437 the opening trade, after the private sector lender reported an 18 per cent jump in March quarter standalone net profit at Rs 12,630 crore. Other banks, including HDFC Bank (nearly 1.5%) and Yes Bank (over 7%), also rose.
IT stocks also traded higher despite weak Q4 results. Tech Mahindra (4.3%), Infosys (2.29%), TCS (0.4%), Wipro (1.1%), and HCL Tech (1.53%) were trading higher in the early trade.
V K Vijayakumar, chief investment strategist of Geojit Investments Ltd, said, “Even though the global economic scenario is mired in uncertainty, India appears relatively resilient. India is the only large economy which can grow at 6 per cent even in a slowing global economy. This, along with the declining dollar, has the potential to attract more FPI inflows into India in the short run.”
The Q4 results of HDFC Bank and ICICI Bank have the potential to take Bank Nifty to an all-time high, he said.
Foreign institutional investors (FIIs) bought equities worth Rs 4,667.94 crore on a net basis on Thursday, according to exchange data.
On the technical front, Choice Broking said the Nifty is likely to find support at 23,700, followed by 22,600 and 22,500. On the upside, 24,000 may act as the immediate resistance, followed by 24,200 and 24,500.
The Relative Strength Index (RSI) is currently at 72.28 and trending upward, signaling improving strength. Meanwhile, the Stochastic RSI has shown a positive crossover, suggesting short-term bullish momentum.
Global Cues
Asian equities and US stock futures slid on Monday while the dollar slumped, as anxiety over tariffs and public criticism of the Federal Reserve by President Donald Trump hit sentiment, leading gold prices to a new high.
Trump launched a series of attacks against Fed Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell, a move that has great consequence for the central bank’s independence and for global markets.
Most markets were closed on Friday and some remain on holiday for Easter Monday.
S&P 500 futures fell 0.64% and Nasdaq futures eased 0.53%. In Asia, Japan’s Nikkei fell 1% while South Korea’s benchmark index was steady.
The yield on the benchmark US 10-year Treasury note rose 3 basis points to 4.358% in early Asian hours.
With the US earnings season kicking off, investor focus this week will be on results from tech giant Alphabet, chipmaker Intel and EV maker Tesla.
All the Magnificent Seven megacap stocks are sharply lower in 2025, with Alphabet down about 20% and Tesla off 40%.
This is exactly what I was looking for—thanks for the helpful tips!