Nifty, Sensex Rally for 5th Day: Market Soars on Bank Earnings, Trade Optimism, and Rate Cut Hopes
Mumbai, April 21:
The Indian stock market continued its winning streak for the fifth consecutive session on Monday, driven by robust bank earnings, bullish technical indicators, and growing optimism over a US-India trade deal.
The Nifty 50 rose by 1.16% to close at 24,129, while the Sensex gained 1.11% to settle at 79,421. The broader markets outperformed, with Nifty Midcap 100 climbing 2.55% and Nifty Small Cap 100 adding 2.26%.
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A strong breadth was seen across sectors as 12 of 13 major indices closed in the green. Nifty PSU Bank was the top sectoral gainer, rising 2.49%, followed by realty, oil & gas, IT, and metal stocks.
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Positive earnings from top private banks, notably HDFC Bank and ICICI Bank, spurred investor confidence. Yes Bank also rallied over 7%. HDFC Bank hit a record high, becoming the biggest contributor to the Nifty’s rise. The Bank Nifty surged 1.8%, hitting a new lifetime high.
Despite global trade tensions, India’s economic outlook remains strong. Analysts expect India to maintain over 6% growth, attracting foreign portfolio investments (FPIs), especially into financials, telecom, real estate, and consumer sectors.
US Vice President JD Vance’s arrival in New Delhi raised expectations of a bilateral trade pact by July, potentially avoiding steep US tariffs. Markets see this as a bullish signal for India’s global trade positioning.
With CPI inflation easing to 3.3% in March, the RBI may lean toward a 75–100 basis points rate cut in FY2026. Lower interest rates are likely to boost margins and profitability across sectors.
The Nifty broke above its 20-day and 50-day moving averages, forming bullish patterns on both daily and weekly charts. Key resistance is seen at 24,545, while strong support lies at 23,600, according to analysts from Angel One.
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