Stock Market Today: Sensex Crosses 80,000, Nifty Rises for Seventh Day – IT, Energy Sectors Shine

The Indian stock market began the mid-week session on a bullish note, with benchmarks Sensex and Nifty 50 extending gains for the seventh consecutive day. Early trades on April 23, 2025, saw the Sensex soaring over 500 points to breach the psychologically significant 80,000 level, while the Nifty 50 traded firmly above 24,200, buoyed by strong buying interest in IT, energy, electronics, and financials.

With improved global sentiment and robust Q4 earnings from key companies, Indian equities have reclaimed investor optimism. Let’s explore what’s fueling the rally, sectoral outlook, key stocks to watch, and the technical levels that traders should monitor.

Sensex and Nifty: Riding Strong Momentum

At the time of writing:

• BSE Sensex is trading at 79,757.50, up 161.91 points (0.20%).
• Nifty 50 stands at 24,223.25, higher by 56.00 points (0.23%) from the previous close.

Both indices opened with a gap-up, indicating strong investor sentiment carried over from Wall Street’s overnight rally. A supportive macro environment, easing global concerns, and strong quarterly results from large-cap firms have set the tone for sustained bullishness.

Global Boost: Why Investors Are Bullish

A major catalyst for today’s rally comes from the international stage. US Treasury Secretary Scott Bessent suggested that President Trump may soften tariffs against China, signaling a possible resolution to ongoing trade tensions. This expectation of relaxed tariffs triggered a relief rally in global markets.

Investors now expect fewer disruptions in global supply chains and improved earnings visibility for export-driven industries. Indian markets, with their robust fundamentals, were quick to mirror this optimism.

Earnings Season: Over 100 Q4 Results on the Radar

Over 100 listed companies are scheduled to report their Q4 FY2024–25 results this week, making this a pivotal phase for market sentiment. Investors are watching earnings closely to assess sectoral resilience and validate stretched valuations, particularly in IT, banking, and manufacturing.

Q4 numbers from companies like HCL Tech and Waaree Energies have already set a strong precedent. These earnings will likely continue to shape trading activity for the next few sessions.

Sectoral Overview: IT, Energy, and Electronics in Focus

The rally today was not just broad-based but sector-specific. Certain themes stood out in terms of investor interest:

1. Information Technology

Tech stocks led the charge, driven by strong earnings and upward revenue guidance. HCL Technologies exceeded expectations, lifting the entire sector.

2. Energy

Oil prices have remained firm globally, benefiting energy producers and refiners. Domestic energy majors gained on margin expansion and production updates.

3. Electronics & Capital Goods

The government’s production-linked incentives (PLI) and rising capex from both the private and public sector are supporting momentum in electronic equipment and mobility-related manufacturing.

4. Selective Financials

With the loan book expansion in focus and steady asset quality, select banking and NBFC stocks remained in demand. Retail participation in banking stocks rose significantly.

Top Stocks to Watch Today – April 23, 2025

1. Waaree Energies

Waaree Energies impressed with a 34.10% jump in net profit at ₹618.90 crore, while revenue surged 36.40% to ₹4,003.90 crore. The robust financials made it one of the top-performing stocks today.

2. Varun Beverages (VBL)

VBL started commercial production at its Prayagraj unit, covering carbonated soft drinks, juices, and packaged water. The operational expansion has positioned the company to cater to rising summer demand in north India.

3. Punjab National Bank (PNB)

PNB shares saw positive traction after a Belgian court rejected the bail plea of Mehul Choksi, key accused in the ₹13,500 crore fraud case. The legal update may help the bank fast-track recovery processes, improving sentiment.

4. HCL Technologies

HCL Tech surged after offering revenue guidance of 2% to 5% in constant currency, well above street expectations. With margins intact and deal wins healthy, the outlook remains positive.

5. Hindustan Unilever (HUL)

HUL completed the acquisition of 90.5% in Uprising Science Pvt. Ltd., the parent company of skincare brand Minimalist. While analysts maintain a neutral stance for today, this strategic buy signals expansion into premium beauty categories.

Technical Levels to Watch

Nifty 50

• Support: 24,150 / 24,077
• Resistance: 24,417 / 24,492

Bank Nifty

• Support: 55,414 / 55,292
• Resistance: 54,992 / 56,271

Markets are trading close to resistance zones. A breakout above 24,500 on Nifty could trigger fresh highs, while failure may invite consolidation.

Midcap and Smallcap Sentiment

The Nifty Midcap 100 and Smallcap 100 indices outperformed benchmarks in early trade. Investors continue to rotate funds into these categories, encouraged by solid earnings, policy tailwinds, and increased retail activity.

However, valuations are running hot in certain smallcaps, and prudent stock selection remains key.

FII-DII Flows and Market Breadth

Foreign Institutional Investors (FIIs) have resumed net buying after two weeks of marginal outflows. Domestic Institutional Investors (DIIs) continue to support the markets, especially in infrastructure and capital goods.

Market breadth remains positive with a majority of NSE-listed stocks trading above their 20-day moving average. Advances outnumbered declines by a wide margin, reinforcing bullish conviction.

IPO Buzz and Grey Market Trends

While IPO activity remains steady, the grey market premium (GMP) for most new issues remains muted. Investors are adopting a cautious stance given high valuations. Analysts suggest looking beyond GMP and focusing on business fundamentals, revenue visibility, and promoter credibility.

Commodities and Currency Check

• Brent crude is holding near $91.40 per barrel, supporting energy stocks.
• Gold trades mildly lower as investors shift capital toward equities.
• INR remains stable around 82.60 against the USD, benefiting importers and easing inflationary concerns.

What to Expect Tomorrow?

• Heavyweights like Axis Bank, Ultratech Cement, and Asian Paints will release earnings, which could impact Nifty direction.
• Global cues including US jobless claims and updates from the Chinese central bank will guide sentiment.
• Traders should watch for further developments on the US-China tariff rollback, as this remains a crucial macro factor.

Expert View: Buy the Strength, Watch the Valuations

Market experts suggest riding the trend but not chasing overbought stocks blindly. Long-term investors should focus on companies with high cash flow visibility and low debt. While momentum remains strong, the sharp rally has made risk-reward slightly unfavorable in select sectors.

Sectors like defense manufacturing, clean energy, digital infrastructure, and private banking continue to attract institutional inflows.

Conclusion

April 23, 2025, has turned out to be another bullish session for Indian equities, with key indices pushing into uncharted territory. As the Sensex touched 80,000 and Nifty climbed above 24,200, the confidence among retail and institutional investors was evident.

Driven by favorable global cues, strong corporate earnings, and sectoral leadership, the Indian market is in a sweet spot. However, with valuations climbing, it’s time for cautious optimism. Focus on fundamentals, track the earnings calendar, and stay updated on macroeconomic triggers.

The road ahead looks promising—but only for those who drive with their headlights on.

Disclaimer: Stock market investments are subject to market risks. This article is for informational purposes only and should not be construed as financial advice. Please consult a qualified advisor before making investment decisions.

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