POST-MARKET SUMMARY 23rd April 2025

On April 23, Indian benchmark indices ended higher, marking their seventh consecutive positive session despite a volatile trading environment. On the sectoral front, the IT index surged by an impressive 4%, while the Auto sector saw a solid gain of over 2%. However, the PSU Bank and Consumer Durables indices faced some pressure, slipping by 0.5-1%.

NIFTY: The index opened 190 points higher at 24,357 and made a high of 24,359 before closing at 24,328. Nifty has formed a small bearish candle with a long lower shadow, resembling a ‘Hanging Man’ pattern on the daily chart. Its immediate resistance level is now placed at 24,360 while its immediate support is at 24,230.

BANK NIFTY: The index opened 450 points higher at 56,097 and closed at 55,370. Bank Nifty has formed a bearish Marubozu like candlestick pattern with a long lower shadow on the daily chart. Its immediate resistance level is now placed around 55,500 while immediate support is around 55,100.  

Stocks in Spotlight

▪  Eicher Motors: Stock slipped 3% intraday amid speculation that the Indian government may remove import duties on motorcycles above 705 cc, potentially increasing competition in the premium bike segment.

▪  LTIMindtree: Stock closed 5% higher after the company reported a 2.6% increase in Q4 net profit and announced a dividend of Rs 45 per share.

▪  AU Small Finance Bank: Stock surged over 8% after the company reported an 18% jump in Q4 net profit to Rs 504 crore. Net interest income rose 57% YoY to Rs 2,094 crore. 

Global News 

▪  Asian shares mostly rose on Wednesday, with markets showing relief after President Trump indicated he would not dismiss the head of the U.S. Federal Reserve. Sentiment was also boosted by Treasury Secretary Scott Bessent’s hint at a potential de-escalation in U.S.-China trade tensions.

▪  WTI crude oil futures fell below $62.60 per barrel on Wednesday, marking a 9% drop since April, amid growing concerns that OPEC+ may increase supply in the coming months.

▪  Gold retreated further on Wednesday from its all-time high as risk appetite increased, fuelled by positive signals from President Trump regarding the U.S. central bank and trade talks with China.

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