The widest markets continued their ascending impulse with the ingenious MIDCAP 100 index that rises 1.18% to 55,041.10, while the Nifty Smallcap 100 advanced at 0.44%
The Variable Income Points extended their winning streak for the seventh consecutive session on Wednesday, with the IT sector leading the position as it relieves global commercial tensions increased the feeling of the market. In the midst of the purchase of FPI, the Sensex closed above 80,000 brands for the first time since December 18, 2024; The reference point rose 520.90 points or 0.65 percent rose to 80,116.49, while NIFTY 50 increased by 161.70 points or 0.67 percent to 24,328.95.
The markets opened in a positive note largely inspired by the strong performance of Wall Street after the comments of the president of the United States, Donald Trump, about the president of the Federal Reserve, Jerome Powell, and market negotiations with China.
Foreign portfolio investors bought shares worth ₹ 3,323.93 million rupees on Wednesday, according to the provisional data of exchanges. For the sixth consecutive day, they were buyers with a sum of about ₹ 22000 million rupees, after retiring a lot since last October.
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The stocks were the artists outstanding on Wednesday, with the sector index increasing more than 4 percent. HCL technologies led the Gainers, jumping 7.74 percent, followed by Tech Mahindra (4.76 percent), Wipro (3.87 percent) and Infosys (3.75 percent). Tata Motors also showed strong yield, increasing 4.44 percent.
“The IT index exceeded, exceeding more than 4.35 percent, while the intra -gains reserve was observed in selective consumer and financial actions,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Banking actions saw the profits after their recent rally, with Kotak Mahindra Bank and HDFC Bank decreased 2.09 percent. Other main losers included Grasim (-1.98 percent), State Bank of India (-1.08 percent) and Eicher Motors (-0.93 percent).
The widest markets continued their upward impulse with the ingenious MIDCAP 100 index that rises 1.18 percent to 55,041.10, while the Nifty Smallcap 100 advanced at 0.44 percent. The amplitude of the market remained positive with 2,028 actions moving versus 1,949 in decline in the EEB.
Nandish Shah, deputy vice president of HDFC Securities, said: “Extending its upward impulse for the seventh consecutive session, the Nifty rose another 161 points (0.67 percent) to close at 24,328, marking a robust recovery of more than 2,600 points from its low April 7, 21,743”.
The Indian rupe was weakened for the second consecutive day, wiring for 23 lands against the US dollar to establish in 85.42, driven by a strengthening dollar index.
In the basic products market, gold prices witnessed a strong decrease, falling into ₹ 1,500 to establish ₹ 95,800 in MCX. “This marks a prompt sale of almost ₹ 2,500 since April 3, which indicates a possible short -term rethia of the recent maximums,” said Jateen Trivei, VP Research Analyst of LKP Securities.
Technically, the market maintains its upward structure despite Wednesday’s volatility. “While the market is quoted above 24,150/79500, it is likely that the upward feeling will continue. On the side, it could move to the range of 24,450-24.500/80300-80500,” Chouhan added.
However, analysts have marked possible warning signs. Rupak of, Senior technical analyst of LKP Securities, warned: “Although the feeling remains optimistic as the index continues to operate above the previous swing, the formation of a pathtery table of a hanging man serves as a warning network.” “
Looking towards the future, the market is expected to maintain its positive bias in the short term, with NIFTY support seen in 24,072. “We maintain our positive perspective of The Nifty and recommend continuing with an ‘Buy in Dips’ approach, citing strong support around zone 23,700–23,800,” said Ajit Mishra, SVP, Research by Religue Broking Ltd.
The immediate resistance for Nifty is placed in 24,545, which represses the 61.8 percent of all the fall from its historical maximum of 26,277 to the minimum of April 7, 21,743. With the progress of the fourth -quarter profit season, the specific stock action is expected to remain focused on the next sessions.
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Posted on April 23, 2025