Markets at Noon: Sensex, Nifty Edge Higher as IT and Consumer Services Lead Gains
By ScanX News Team
Indian markets show positive trend at midday with Nifty at 24,211.90 (+0.18%) and Sensex at 79,776.81 (+0.23%). IT and Consumer Services sectors lead gains, while Engineering and Transport Services face pressure. Vardhman Special Steels emerges as a standout performer, surging 20% following announcement of a new green steel plant in Punjab.
*this image is generated using AI for illustrative purposes only.
Market Overview
As the clock strikes noon on April 23, 2025, Indian markets are showing a positive trend with both benchmark indices trading in the green. The NSE Nifty 50 is currently at 24,211.90, up 44.65 points or 0.18% from its previous close. Meanwhile, the BSE Sensex is trading at 79,776.81, registering a gain of 181.22 points or 0.23%.
Sectoral Performance
The market is witnessing a mixed bag of sectoral performances today.
Top Performing Sectors:
| Sector | Change (%) |
|---|---|
| Consumer Services | +0.98 |
| Information Technology | +0.94 |
| Capital Goods | +0.35 |
| Telecom | +0.28 |
| Capital Markets | +0.26 |
Underperforming Sectors:
| Sector | Change (%) |
|---|---|
| Engineering Services | -1.84 |
| Transport Services | -1.53 |
| Banks | -1.01 |
| Oil & Gas | -0.76 |
| Petroleum Products | -0.75 |
The IT and Consumer Services sectors are leading the gains, while Engineering Services and Transport Services are facing the most pressure.
Buzzing Stocks
One of the standout performers in today's session is Vardhman Special Steels . The stock has surged by an impressive 20%, trading at ₹248.94. This significant uptick comes on the back of the company's announcement regarding the construction of a new green steel plant in Punjab.
Key highlights of the announcement include:
- Proposed capacity addition of 500,000 MT of billet production
- Project completion expected by FY 2029-30
- Estimated investment of approximately ₹20 billion
This strategic move by Vardhman Special Steels has clearly resonated well with investors, as reflected in the stock's substantial price movement.
Conclusion
As we reach the midpoint of today's trading session, the market shows a slightly bullish sentiment with both Nifty and Sensex in positive territory. The divergence in sectoral performances, with IT and Consumer Services leading while Engineering and Transport Services lag, indicates a selective approach by investors. The significant movement in Vardhman Special Steels highlights the market's responsiveness to company-specific developments.
