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4d ago

Sensex Tops 80,000 as Nifty Hits New Highs on Global Optimism and FII Buying

Indian markets extended their rally on April 23, bolstered by easing US-China trade tensions, dovish Fed signals, and strong sectoral performance in IT and banking.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 22, 2025. REUTERS/Brendan McDermid/File Photo
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A man walks past the Bombay Stock Exchange (BSE) building, in Mumbai, Tuesday, April 8, 2025.

Overview

  • The Sensex crossed the 80,000 mark, closing at 80,116.49, while the Nifty ended at 24,328.95, driven by gains in IT and banking stocks.
  • HCL Tech led IT sector gains with a 7.72% surge after reporting an 8.1% profit increase for the March quarter, alongside strong performances from Tech Mahindra and Infosys.
  • US President Donald Trump's comments on reducing tariffs on Chinese imports and maintaining Federal Reserve Chair Jerome Powell boosted global market sentiment.
  • Foreign Institutional Investors (FIIs) remained net buyers, purchasing ₹1,290.43 crore in equities on April 22, continuing a five-day streak of inflows.
  • The Reserve Bank of India's relaxed liquidity guidelines, coupled with declining inflation and expectations of rate cuts, supported domestic investor confidence.