Sensex Reclaims 80,000, Nifty At 24,328 As Headline Indices Extend Gains For Seventh Session

Sensex, Nifty Today: Headline indices continued to rally for the seventh straight session on April 23. The Sensex reclaimed the 80,000 mark as it closed above 80,116.49, up by 520.9 points or 0.65 per cent. The 50-share Nifty also closed higher by 161.7 points, or 0.67 per cent, at 24,328.95.

IT Stocks Emerge As Top Nifty Gainers

Indian IT sector giants such as HCL Technology Ltd., Tech Mahindra Ltd., Wipro Ltd., and Infosys Ltd. emerged as top gainers among constituents of the Nifty as they closed higher by up to 7.74 per cent. Tata Motors shares also gained significantly on April 23. Notably, 38 constituents of the index ended in the green, and 12 ended in the red. Kotak Mahindra Bank, HDFC Bank, Grasim, and State Bank of India shares declined the most as they closed lower by as much as 2.09 per cent.

Nifty Auto and Nifty IT Lead Gainers

All sectoral indices apart from the Nifty Bank and the Nifty FMCG index closed lower on April 23. On the other hand, the Nifty Auto and the Nifty IT index gained the most among sectoral indices as they closed higher by 4.34 per cent. The broader market indices, Nifty MidCap 100 and the Nifty SmallCap 100, mirrored the gains made by the benchmarks and extended their rally, closing higher by up to 1.18 per cent.

Global Markets

Wall Street indices closed in the green as the Dow Jones Futures, S&P 500, and Nasdaq closed higher by as much as 2.71 per cent. European indices such as the FTSE 100, the CAC 40 and the DAX Performance index traded in the green at the time of writing, up by as much as 2.42 per cent. Asian indices, such as the Shanghai Composite and the Nikkei 225 traded higher by up to 1.18 per cent. On the other hand, the Hang Seng traded in the red, down by 0.1 per cent.

Primary Market Action

Ather Energy Ltd. filed its red herring prospectus today. The company plans to raise Rs 2,980.76 crore through a fresh issue of 8.18 crore shares amounting to Rs 2,626 crore and an offer-for-sale component of 1.11 crore shares aggregating to Rs 354.76 crore. The bidding window for the public issue will remain open from April 28 to April 30.

Cues To Watch

Earnings season is in full swing and several companies are expected to declare their results on April 23 such as Hindustan Unilever, Axis Bank, Nestle India, Tech Mahindra, Macrotech Developers and Adani Energy Solutions.