SOURCE : NEW18 NEWS
Last Updated:April 21, 2025, 15:37 IST
The BSE Sensex rises 855.30 points to close at 79,408.50, while the NSE Nifty jumps by 273.90 points to close at 24,125.55.
All sectors, except FMCG, were trading in green with the financial services and IT indices up by nearly 3.5 per cent each.
The domestic equities markets on Monday rose by about 1.1% amid strong buying across the board, especially in banking and IT companies. The BSE Sensex rose 855.30 points to close at 79,408.50, while the NSE Nifty jumped by 273.90 points to close at 24,125.55.
Broader markets also witnessed heavy buying with the BSE MidCap surging by 2.20% and BSE SmallCap by 1.67%. All sectors, except FMCG, were traded in green on April 21.
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Why Did Markets Rise Today?
Heavy Buying In Banking, IT Companies: Banking and IT stocks were the leaders in today’s strong stock market momentum. Top lenders HDFC Bank and ICICI Bank were trading at their 52-week high levels after their Q4 results. IT sectors companies, including Infosys, Tech Mahindra, and HCL Tech, were up by up to 6.14%.
Continuous FII Buying: Foreign institutional investors (FIIs) bought equities worth Rs 4,667.94 crore on a net basis on April 17, the previous trading day. In two days (April 16 and April 17), FIIs invested a total of Rs 10,824 crore.
“Even though the global economic scenario is mired in uncertainty, India appears relatively resilient… The focus of the FIIs will be the domestic consumption themes like financials, telecom, aviation, hotels, select autos, real estate, cement and health care,” said V K Vijayakumar, chief investment strategist of Geojit Investments Limited.
India-China Trade Pact Expectations: Investor sentiment received a lift following reports that India and the United States have reached an understanding on a framework for a bilateral trade agreement. According to reports, the proposed pact is set to encompass 19 key chapters, covering areas such as goods, services, investment, and customs procedures.
Rupee Appreciation Against US Dollar: The Indian rupee on Monday appreciated 33 paise to 85.05 against the US dollar in early trade on Monday, as the dollar index fell to its lowest in three years due to anxiety over Trump tariffs.
US-China Trade Dialogue Hopes: Global markets stayed cautious amid signs of potential progress in US-China trade talks. US President Donald Trump noted that China had made multiple proposals to resume dialogue, with both countries maintaining communication to reduce trade tensions.
What’s Next?
According to ICICI Direct, equity benchmarks staged a strong rebound after defending March low of 21,900 tracking (closing basis) announcement of the 90-day pause of US tariff.
“Our statistical model suggest that host of the negative news are now priced in and has entered in to base formation in the vicinity of 21,900-23,800 that would eventually set the stage for the Nifty head towards 25,500,” the brokerage firm said in a note.
