Markets climbed for the seventh consecutive day – Markets Climbed for Seven Consecurable Day – Business Standard

The Indian stock markets continued to rise on Wednesday and the benchmark indices saw the longest series of lead in seven months. The reason for this is the hope of reducing the US-China trade tension and the information technology (IT) shares were bounced. On Tuesday, the assurance of US President Donald Trump also strengthened the market belief that he had no plans to sack Federal Reserve President Jerome Powell. The Sensex re -reached 80,000 level for the first time since December 18, 2023 and closed at 80,117 with a gain of 521 points on Wednesday. The Nifty finished trading at 24,329 with an increase of 162 points. Both indices recorded a continuous lead for seven days, which is their longest series of lead since August 20 to September 2, 2024. During this period, the total market capitalization of the firms listed in BSE increased by Rs 36.7 lakh crore to Rs 430.5 lakh crore. On Wednesday’s rise, IT shares increased and Infosys gained 3.7 per cent while HCL Technologies increased by 7.7 per cent and TCS by 2.8 per cent. The better performance of the sector was followed by the revised revenue estimate of HCL Technologies, which predicted an increase of 2 to 5 per cent for the year for permanent currency. Although it is less than historical forecasts, Infosys has an estimated 0-3 percent range. The Nifty IT index gained 4.3 per cent, which is the fastest one -day lead since July 12, 2023. Meanwhile, seven days later in banking shares, there was some profit -booking which rose 11 per cent in this period, but on Wednesday the banking index was weak 0.5 per cent. The notion of investors was also strengthened by the remarks indicating the soft attitude of President Trump towards China. He emphasized the intention of reducing tariffs to a large extent, if not zero, to a large extent, based on the trade agreement. In addition, Trump ended speculation about the removal of Fed Chairman Powell, which reduced the concerns arising out of his earlier social media posts criticizing the central bank. The dollar index rose 0.19 per cent to 99.1 while the 10 -year -old American Treasury Yield came to 4.29 per cent. The spot gold slipped by 2.2 per cent to $ 3,305.79 an ounce as compared to a record height of $ 3,500.05 in the previous session. Siddharth Khemka, the research head of Motilal Oswal Wealth Management, said, “With the proceedings of the fourth quarter income session, the speed will be intensified about a particular area. The market will continue to rise as domestic optimism and progress on global trade continue. Foreign portfolio investors bought shares worth Rs 3,333 crore while domestic institutions sell shares worth Rs 1,235 crore. Vinod Nair, the research head of the judged Financial, warns, the fourth quarter mixed results, rising crude oil prices and the recent better performance of the market can promote strength in the near future. The ratio of the market climbing and falling shares was positive and 2,028 shares rose while 1,949 declined. First Published – April 23, 2025 | 10:15 PM IST related posts

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