Monday witnessed a surge in the stock market, driven by a sharp rise in banking stocks. The Sensex climbed 500 points, and the Nifty approached 24,000. ICICI and HDFC Bank were particularly b performers.
Stock Market Update: On Monday, April 21, 2025, the Indian stock market opened bly, with the BSE Sensex gaining 500 points to surpass 79,000. The NSE Nifty also showed strength, trading near 24,000. The robust banking sector significantly boosted market sentiment, with ICICI Bank, HDFC Bank, and Axis Bank attracting the most attention.
Banking Stocks Emerge as Market Heroes
Today's session saw a remarkable surge in banking stocks. Heavyweights like ICICI Bank, Axis Bank, and HDFC Bank experienced significant gains, attributed to their b January-March 2025 quarter results. Analysts suggest that the Q4 results further solidified investor confidence, leading to substantial buying in these banking stocks.
Mixed Signals from Global Market Trends
Globally, Japan's Nikkei 225 declined by 0.74%, while South Korea's Kospi rose by 0.5%. However, Australian and Hong Kong markets were closed for the Easter holiday. US markets showed slight declines in Dow Jones, Nasdaq, and S&P 500 futures. Former President Donald Trump's comments regarding Federal Reserve Chairman Jerome Powell contributed to the uncertainty in the US market.
Previous Trading Session Showed Strength
The previous trading session, ending Thursday, saw the Indian stock market register a nearly 2% increase. Positive sentiment regarding private bank margins, fueled by deposit rate cuts, contributed to the b rise in banking stocks. Heavy buying by Foreign Portfolio Investors (FPIs) further bolstered this upward trend.
Gold Prices Reach Record Highs
In addition to the stock market activity, the gold market also experienced significant movement. Gold prices reached record highs today. The gold spot price surpassed $3,300, setting a new record high of $3,368.92 per ounce, reflecting increased investor interest in safe-haven assets.
