Markets extend winning streak to 7th day

 on Wednesday, driven by strength in the IT, Pharma, and Auto segments.At close, the Sensex was up 520.90 points or 0.65 percent at 80,116.49, and the Nifty was up 161.70 points or 0.67 percent at 24,328.95.Markets opened higher in early trade  on Wednesday,supported by optimistic global sentiment after U.S. President Donald Trump suggested a notable reduction in tariffs on Chinese goods once a trade agreement is reached.
HCL Technologies, Tech Mahindra, Tata Motors, Wipro, Infosys were the top gainers on the Nifty, while losers included HDFC Bank, Kotak Mahindra Bank, Axis Bank, SBI, Grasim Industries.On the sectoral front, IT index jumped 4 percent, auto index added more than 2 percent, while PSU Bank, consumer durables indices were down 0.5-1 percent.BSE Midcap index rose 1 percent and Smallcap index was up 0.2 percent.
Rupee Close:
On 23 April'25,the Indian rupee depreciated 25 paise and settled for the day at 85.44 against the US dollar on Wednesday, on surge in crude oil prices and importer demand for the American currency.Forex traders reportedly stated the American currency recovered, supported by Donald Trump's softened stance -- particularly towards the Federal Reserve and China.However, positive domestic markets and weak US dollar index and foreign fund inflows supported the domestic unit at lower levels.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the Indian equity market sustained its positive momentum, driven by better outcome from the latest set of IT results and optimistic forward-looking comments. However, profit booking was visible in financials after the recent sharp rally. While US-China trade tensions appear to be easing, a rally in US tech stocks has further bolstered overall global market sentiment. The mixed domestic Q4 earnings and uptick in crude prices, along with the recent outperformance of the domestic market, can trigger some consolidation in the near term. Market experts recommended four stocks to buy-PNB Gilts Ltd, IDBI Bank, SJVN, and Snowman Logistics Ltd.

(Business Correspondent)