Markets Extend Winning Streak; Bank Nifty Hits Record High

The session saw 70 stocks hitting their 52-week highs while 11 touched 52-week lows. Additionally, 141 stocks were locked in the upper circuit, whereas 40 stocks hit the lower circuit.

Market Update at 2:15 PM: India's key equity indices, the Nifty 50 and Sensex, rose by 0.3 per cent each, marking their sixth consecutive day of gains, driven largely by a rally in banking stocks. 

The Bank Nifty climbed 0.7 per cent, touching a new all-time high, as the RBI's relaxation of liquidity coverage ratio (LCR) norms is expected to enhance liquidity and support credit expansion. 

Kotak Mahindra Bank surged 2 per cent, joining HDFC Bank and ICICI Bank in reaching record levels. However, IndusInd Bank declined 4.5 per cent following reports of a second forensic audit linked to a Rs 600 crore issue in its microfinance portfolio. 

Broader market indices also saw strength, with the CNX Midcap and CNX Smallcap indices gaining 0.8 per cent and 0.9 per cent, respectively, while 10 out of the 13 major sectoral indices ended in the green.

As of 14:17 IST on April 22, 2025, a total of 2,840 stocks were traded on the NSE. Among them, 1,920 stocks advanced, 827 declined, and 93 remained unchanged. The session saw 70 stocks hitting their 52-week highs while 11 touched 52-week lows. Additionally, 141 stocks were locked in the upper circuit, whereas 40 stocks hit the lower circuit.

Market Update at 12:15 PM: India’s benchmark indices edged higher in early trade on Tuesday, driven by buying in financial stocks after the Reserve Bank of India (RBI) eased deposit buffer norms for banks.

At 12:00 a.m. IST, the Nifty 50 had climbed 0.33 per cent to 24,212, while the BSE Sensex gained 0.36 per cent, reaching 79,704.

The RBI, in its latest directive on Monday, announced that banks need to maintain a lower-than-expected buffer rate of 2.5 per cent on digitally linked deposits, with a year’s time to comply. It also reduced the 'run-off' factor on wholesale deposits from non-financial institutions such as partnership firms and trusts from 100 per cent to 40 per cent.

Following the announcement, Kotak Mahindra Bank and HDFC Bank rose by 2.3 per cent and 2.1 per cent, respectively, lifting the Nifty Financial Services index by 1 per cent./

However, IndusInd Bank dropped nearly 4 per cent after it reported a second forensic audit by EY, linked to a Rs 600 crore discrepancy in interest income from its microfinance portfolio a concern that has been dragging the stock since last month’s derivative accounting issues.

Metal stocks also moved up 1 per cent, buoyed by a temporary safeguard duty on select steel imports, aimed at countering cheaper Chinese supplies.

Meanwhile, IT stocks saw slight profit booking, dipping 0.5 per cent after rallying over 2 per cent in the previous session. Broader indices such as the Nifty Mid-Cap and Small-Cap also added around 1.1 per cent each.

By midday, the top-gaining stocks that supported the Nifty 50 were HDFC Bank (+48.27 pts), Kotak Mahindra Bank (+14.63 pts), and State Bank of India (+14.23 pts). On the other hand, Power Grid Corporation (-5.61 pts), Bharti Airtel (-8.3 pts), and Infosys (-18.86 pts) were among the key drags on the index.

On the sectoral front, 15 out of 17 sectors recorded gains, with Nifty Realty, up more than 2 per cent, being the top-gaining sector. 

Currently, 68 stocks are trading at their 52-week high, and 9 stocks are at their 52-week low. On the NSE, 131 stocks have hit their upper circuit, while 31 stocks are locked in their lower circuit.

Market Update at 10:15 AM: India’s benchmark indices started Tuesday's session on a muted note, with minor losses led by weakness in IT stocks, while gains in financial and metal shares provided some support.

As of 9:19 a.m. IST, the Nifty 50 was down 0.1 per cent at 24,108, and the BSE Sensex slipped to 79,330.59. The Nifty IT index declined 0.7 per cent, making it the biggest laggard among sectoral indices.

Meanwhile, metal majors Tata Steel and JSW Steel rose 1.3 per cent and 0.8 per cent, respectively, ranking among the top five gainers on the Nifty 50. Their gains came after the government introduced a temporary safeguard duty on certain steel imports to restrict low-cost inflows, mainly from China.

Financial stocks also saw modest buying interest, with the Nifty Financial Services index up by 0.4 per cent.

Out of the 13 major sectoral indices, eight were trading in positive territory. The broader markets performed relatively better, with the Nifty Midcap and Nifty Smallcap indices both rising about 0.5 per cent in early trade.

Pre-Market Update at 8:00 AM: The Indian stock market is set for a weak start on Tuesday, following negative cues from global markets. Asian indices are trading lower, and US markets saw a steep decline overnight after former President Donald Trump criticised Federal Reserve Chair Jerome Powell, warning of an economic slowdown unless interest rates are cut. 

As of 7:45 AM, Gift Nifty was up by just 6 points at 24,156, indicating a flat opening for the Indian market. Despite global uncertainty, foreign institutional investors (FIIs) continue to be net buyers, with cumulative purchases of Rs 16,640 crore over the past four sessions.

On Monday, the domestic equity benchmarks extended their winning streak, with the Sensex gaining 855 points to close at 79,408.50 and Nifty 50 rising 274 points to end at 24,125.55. The Index of Eight Core Industries saw a growth of 3.8 per cent year-on-year in March and 4.4 per cent for the fiscal year 2024-25, reflecting a moderate recovery in key sectors like coal, steel, and electricity.

The Reserve Bank of India (RBI) has eased Liquidity Coverage Ratio (LCR) norms for digitally linked deposits, allowing banks to maintain a reduced buffer of 2.5 per cent. Banks have been given a year to comply, which is expected to improve their LCR positions by nearly 6 percentage points by year-end.

In global markets, US indices experienced significant declines, with the Dow falling 2.48 per cent, the S&P 500 dropping 2.36 per cent, and the Nasdaq losing 2.55 per cent. Asian markets mirrored this weakness, with Japan's Nikkei and South Korea's Kospi both down. Gold prices continued their record-breaking rally, hitting an all-time high of USD 3,443.79 an ounce, while the US dollar remained weak, hovering near a three-year low.

On the institutional front, FIIs were net buyers, purchasing Rs 1,970.17 crore worth of shares. Since the last four trading sessions, FIIs have been on a buying spree, while DIIs net purchased Rs 246.59 crore. 

Stocks banned for trading in the F&O segment on April 22 include Angel One, Hindustan Copper, Manappuram Finance, IREDA, and Tata Elxsi.

Disclaimer: The article is for informational purposes only and not investment advice.