Indian equity markets kicked off Wednesday&rsquo;s session on a positive note, buoyed by upbeat global cues and strong performances in IT and automobile sectors. The rally followed a stellar overnight performance in the US and widespread gains across major Asian markets.
By 9.32 am the BSE Sensex had jumped 536.4 points (0.67%) to reach 80,132.01, while the NSE Nifty rose 150.1 points (0.62%), trading at 24,317.35. The Nifty Bank index was up 187.1 points (0.34%), at 55,834.30.
Mid- and small-cap segments joined the rally, with the Nifty Midcap 100 climbing 359.7 points (0.66%) to 54,756.85, and the Nifty Smallcap 100 adding 109.6 points (0.71%) to trade at 17,013.20.
Market analysts said that despite ongoing concerns around US policy shifts under President Donald Trump, the Indian market sentiment remains resilient. The Nifty continues to trade well above its 200-day moving average (24,051)&mdash;a key signal of strength&mdash;with the next upside target seen at 24,858. Support levels are pegged at 24,000 and the 100-day moving average at 23,397.
Top gainers among the Sensex pack included HCL Technologies, Tech Mahindra, Infosys, IndusInd Bank, TCS, and Tata Motors. On the flip side, Kotak Mahindra Bank and Asian Paints registered early losses.
On the global front, US markets soared on Tuesday, with the Dow Jones surging 2.66% to close at 39,186.98, the S&amp;P 500 rising 2.51%, and the Nasdaq advancing 2.71%. Analysts credited President Trump&rsquo;s remarks&mdash;reassuring markets that he does not intend to replace the Federal Reserve chairman&mdash;as key in easing investor concerns. His comments also hinted at a softer stance on the ongoing US-China trade tensions, further boosting sentiment.
Asian markets followed suit, with indices in Jakarta, Seoul, Tokyo, Hong Kong, Bangkok, and Shanghai all trading higher. Foreign Institutional Investors (FIIs) were net buyers on April 22, infusing ₹1,290.43 crore into equities, while Domestic Institutional Investors (DIIs) booked profits with net sales worth ₹885.63 crore.
As of the latest update, the Nifty 50 is trading at 24,296.90, up 129.65 points (0.54%) from the previous close&mdash;showing some signs of profit booking after an enthusiastic opening rally.

Sensex tops 80,000, Nifty nears 24,500 as global optimism fuels market momentum

Markets Open Strong; IT & Auto Lead Gains

Sensex tops 80,000, Nifty nears 24,500 as global optimism fuels market momentum

April 23, 2025 | 15:40 IST