Nifty Rises for 6th Straight Session; Hits Four-Month High, Bank Nifty Closes at Record High
Post Market Commentary: The Indian equity benchmark indices ended higher on Tuesday, marking their sixth consecutive session of gains, led by banking stocks.
The Sensex ended the day up by nearly 187 points (0.24%) at 79,595, while the Nifty 50 gained 41 points (0.17%) to close at 24,167. During the day, the Nifty 50 crossed its previous swing high of January 2, 2025. However, some profit booking towards the end trimmed the gains. Still, it managed to close at a fresh four-month high.
Bank Nifty outperformed the frontline indices, rising 0.62% to close at a record high. The rally was driven by RBI’s relaxation of liquidity coverage ratio (LCR) norms. This move is expected to boost liquidity and support credit growth. Kotak Mahindra Bank gained 1.22% to hit a fresh record high. On the other hand, IndusInd Bank declined 4.9% following reports of a second forensic audit linked to a ₹600 crore issue in its microfinance portfolio.
At the close, the biggest contributors to Nifty 50’s gains were HDFC Bank (+55.33 points), ITC (+20.58 points), and Hindustan Unilever (+10.2 points). Meanwhile, Reliance Industries (-9.74 points), Bharti Airtel (-20.88 points), and Infosys (-22.28 points) pulled the index down.
The broader market indices also showcased relative outperformance, with the Mid-cap and Small-cap indices gaining 0.78% and 0.73%, respectively, while 13 out of the 17 major sectoral indices ended in the green.
As of April 22, 2025, the Indian stock market showed a broadly positive market breadth. Out of 2,986 stocks traded on the NSE, 1,834 advanced, 1,059 declined, and 93 stayed unchanged.
A total of 71 stocks touched their 52-week highs, while only 11 hit their 52-week lows, indicating strong bullish momentum. Additionally, 155 stocks were locked in their upper circuits, whereas 46 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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