NewsMarketsMarket Wrap: Nifty and Sensex Surge, IT and Consumer Services Lead Gains on April 23Market Wrap: Nifty and Sensex Surge, IT and Consumer Services Lead Gains on April 23
By ScanX News Team
Indian stock markets closed positively on April 23, 2025, with Nifty 50 up 0.67% at 24,328.95 and BSE Sensex gaining 0.65% to 80,116.49. Consumer Services (+1.77%) and IT (+1.38%) sectors led the rally, while Engineering Services (-1.72%) and Transport Services (-1.35%) underperformed. Vardhman Special Steels hit a 20% upper circuit on new plant announcement, and Waaree Energies surged 14.98% following strong Q4 results. Market breadth was slightly positive with 2,207 advancing stocks out of 4,309 traded.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed on a positive note on April 23, 2025, with both benchmark indices, Nifty 50 and BSE Sensex, posting significant gains. The Nifty 50 index closed at 24,328.95, up 161.70 points or 0.67% from the previous close. Similarly, the BSE Sensex ended the day at 80,116.49, registering a gain of 520.90 points or 0.65%.
Sectoral Performance
Top Performing Sectors
The market rally was led by strong performances in several key sectors:
- Consumer Services (+1.77%)
- Information Technology (+1.38%)
- Capital Markets (+1.02%)
- Automobiles (+0.88%)
- Aerospace & Defense (+0.85%)
Underperforming Sectors
On the flip side, some sectors faced headwinds:
- Engineering Services (-1.72%)
- Transport Services (-1.35%)
- Oil & Gas (-0.53%)
- Banks (-0.30%)
- Beverages (-0.21%)
Buzzing Stocks
Two stocks made significant moves in today's trading session:
Vardhman Special Steels Ltd. : The stock hit a 20% upper circuit following the announcement of plans to invest in a new Greenfield steel plant in Punjab. The ₹2,000 crore project aims to add 5,00,000 MT annual billet production capacity by FY 2029-2030.
Waaree Energies Ltd. : Shares surged 14.98% after reporting strong Q4 results with a 36.4% YoY revenue increase to ₹4,003.9 crore and a 34.1% rise in net profit to ₹618.9 crore. The company's EBITDA doubled, and it's considering potential investment in a US facility.
Market Breadth
The overall market breadth was slightly positive, with advancing stocks outnumbering declining ones:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,309 |
| Positive | 2,207 |
| Negative | 2,102 |
Conclusion
The Indian stock market demonstrated resilience on April 23, 2025, with both Nifty and Sensex closing in the green. Consumer Services and IT sectors led the gains, while Engineering Services and Transport Services faced the most significant declines. Notable stock movements were observed in Vardhman Special Steels and Waaree Energies, driven by company-specific developments and strong financial performances.
