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Detailed review of the post market session of the day.

Benchmarks rally for fifth session; BankNifty hits record high

21-Apr-25 17:35 Hrs IST

Benchmark indices extended their winning streak for the fifth consecutive session today, supported by strong Q4 earnings from key private sector lenders. Investor sentiment remained positive, aided by continued foreign institutional inflows, with FIIs registering as net buyers for the third straight session.

The Nifty 50 settled at 24,125.55 with a gain of 273.90 points or 1.15%. The S&P BSE Sensex surged 855.30 points or 1.09% to end at 79,408.50. Over the past five trading sessions, the Sensex and Nifty have advanced 7.53% and 7.71%, respectively.

Infosys (up 2.13%), Reliance Industries (up 1.67%) and HDFC Bank (up 1.10%) boosted the indices today.

The Nifty Bank index outperformed, hitting a new lifetime high of 55,461.65, following strong quarterly results from ICICI Bank, HDFC Bank, and Yes Bank.

Sectoral performance was broadly positive. Except for the Nifty FMCG index, all other sectoral indices ended in the green. Notably, IT, energy, metal, and realty stocks posted strong gains.

Broader market also saw robust participation. The S&P BSE Mid-Cap index rose 2.20%, while the S&P BSE Small-Cap index added 1.67%.

Market breadth remained firmly in the green. On the BSE, 2918 stocks advanced, while 1168 declined. 161 stocks ended flat.

India VIX, the volatility index, edged up by 0.30% to 15.52, indicating a slight rise in near-term volatility expectations.

Looking ahead, market participants will closely track the Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), scheduled from April 21'26 in Washington, D.C. Key topics include the impact of global trade tensions and progress on multilateral financial initiatives.

Numbers to Track:

The yield on India's 10-year benchmark federal paper grew 0.91% to 6.430, compared with the previous close of 6.370.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.1325 compared with its close of 85.3850 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement rose 1.59% to Rs 96,768.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 1.22% to 98.17.

The United States 10-year bond yield rose 0.53% to 4.350.

In the commodities market, Brent crude for June 2025 settlement declined $1.77 or 2.60% to $66.19 a barrel.

Global Markets:

Dow Jones futures dropped 415 points, setting a gloomy tone for U.S. stocks as investors strap in for an earnings-heavy week. Big names like Tesla, Boeing, and Alphabet are all lining up to report.

The European markets is closed today in observance of Easter Monday.

Asian stocks advanced after the People's Bank of China decided to hold the line on interest rates. The central bank kept the one-year Loan Prime Rate at 3.1% and the five-year (a key benchmark for mortgage rates) at 3.6%. Both rates remain at historic lows, thanks to a series of cuts in recent years.

Back in the U.S., investors continue to be whipsawed by geopolitical drama, especially the Trump administration's trade policy. President Trump recently renewed pressure on the Federal Reserve, urging rate cuts and even taking a swing at Fed Chair Jerome Powell, saying his ouster cannot come fast enough. This came after Powell warned that trade tensions could hamper the Fed's ability to manage inflation and fuel growth.

On Wall Street, the S&P 500 ended Thursday almost flat, giving up earlier gains as tariff uncertainty sparked profit-taking during a shortened trading week. The Dow slipped 1.3%, the Nasdaq lost 0.1%, and the S&P barely budged at +0.1%. (Markets were closed Friday for Good Friday.)

Trump signaled big progress in U.S.'Japan trade talks, giving markets a glimmer of hope. European Commission President Ursula von der Leyen echoed optimism, and reports suggested that even China might be open to rekindling talks'though they would appreciate a bit more respect and a bit less finger-pointing from Washington.

Stocks in Spotlight:

Infosys added 2.13% after the IT major reported a 3.16% rise in consolidated net profit to Rs 7,038 crore in Q4 FY25 as against Rs 6,822 crore in Q3 FY25. However, revenue from operations decreased 2% QoQ to Rs 40,925 crore in the quarter ended 31 March 2025. Meanwhile, the company's board declared final dividend of Rs 22 per share for FY25.

HDFC Bank rose 1.10% after the private bank reported a 6.68% increase in standalone net profit to Rs 17,616.14 crore in Q4 FY25 as against Rs 16,511.85 crore posted in Q4 FY24. Total income shed marginally to Rs 89,487.99 crore in Q4 FY25, down 0.17%, compared to Rs 89,639 crore reported in the same period a year ago. Meanwhile, the company has declared a dividend of Rs 22 per equity share for FY25. The company has fixed the record date as Friday, 27 June 2025.

ICICI Bank added 0.2%. The company reported a standalone net profit of Rs 12,629.58 crore in Q4 FY25, up 17.95% as against Rs 10,707.53 crore posted in Q4 FY24. Total income increased 14% YoY to Rs 49,690.87 crore in Q4 FY25. Meanwhile, the bank's board recommended a dividend of Rs 11 per equity share of face value of 2 each, subject to requisite approvals.

Yes Bank jumped 4.04% after the private bank reported a 63.34% surge in standalone net profit to Rs 738.12 crore in Q4 FY25 as against Rs 451.89 crore posted in Q4 FY24. The bank's total income rose 3.76% YoY to Rs 9,355.39 crore in the quarter ended 31 March 2025.

Devyani International rallied 4.17% after the company announced that its board will meet on Thursday, 20 April 2025, to consider acquiring a majority stake in Sky Gate Hospitality, which operates restaurants under the brand name Biryani by Kilo.

International Gemmological Institute India soared 4.45% after the company's consolidated net profit gained 11.62% to Rs 140.73 crore on a 9.6% increase in revenue from operations to Rs 304.74 crore in Q1 CY25 over Q1 CY24.

HDFC Asset Management Company jumped 5.8% after the company's standalone net profit rose 18.04% to Rs 638.73 crore on 20.46% surge in total income to Rs 1,025 crore in Q4 FY25 over Q4 FY24.

Jio Financial Services (JFSL) shed 0.08%. The company reported a 1.8% increase in consolidated net profit to Rs 316.11 crore on 18% jump in revenue from operations to Rs 493.24 crore in Q4 FY25 over Q4 FY24.

Just Dial soared 11.75% after the company reported a 36.3% jump in standalone net profit to Rs 157.60 crore on a 7% increase in revenue from operations to Rs 289.20 crore in Q4 FY25 over Q4 FY24.

GAIL (India) rose 4.47% to Rs 195.30 after a foreign brokerage upgraded the stock from 'Hold' to 'Outperform' and revised the target price upward to Rs 212.

DCX Systems rose 10.21% after the company announced the execution of a Joint Venture Agreement (JVA) with ELTA Systems, a subsidiary of Israel Aerospace Industries (IAI), and its group companies. The partnership aims to establish a new Joint Venture Company (JVC) in India focused on developing advanced radar systems under the government's Make in India initiative.

Suzlon Energy surged 9.5% following a draft notification from the Ministry of New and Renewable Energy (MNRE). The draft mandates local sourcing of key wind turbine components. These include blades, towers, gearboxes, and generators.

Interarch Building Products gained 4% after the company secured the largest-ever single pre-engineered building (PEB) order, valued at over Rs 300 crore, from one of India's most advanced tyre manufacturing facilities.

Liberty Shoes hit an upper circuit of 20% after the company stated that it has crossed a remarkable number of its top line in its history with improved EBITDA and overall financial performance.