Business News | Indian Stock Markets Extends Gain for Sixth Continuous Days, Banks Major Contributors
Get latest articles and stories on Business at LatestLY. The Indian stock markets extended its gaining streak to sixth days, with banking stocks boosting the market's sentiment.
Mumbai (Maharashtra) [India], April 22 (ANI): The Indian stock markets extended their gaining streak to sixth days, with banking stocks boosting the market's sentiment.
On Tuesday, Reserve Bank of India's (RBI) liquidity-boosting measures boosted the investor's sentiments.
The RBI's measures helped offset the weak global cues originated from the reciprocal tariffs announced by US President Donbald Trump.
At the end of the trading session, Sensex up 187.09 points at 79,595.59, while the Nifty was up 41.70 points at 24,167.25.
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Despite negative cues from Wall Street, the Indian equity market opened on a flat note, with the Nifty starting the day at 24,185.
Bank Nifty led the rally, jumping sharply following the Reserve Bank of India's announcement to ease final Liquidity Coverage Ratio (LCR) norms, effective from April 2026.
Beyond the banking space, sectors such as Realty, Consumer Durables, and FMCG also witnessed notable gains. The only sector to close in the red was IT.
Globally, U.S. markets remained under pressure, weighed down by persistent selling. In the derivatives segment, 158 stocks advanced while 64 declined. Significant open interest build-up was observed in stocks like RBL Bank, Syngene, Crompton, MFSL, and Grasim.
Meanwhile, the volatility index, India VIX, cooled off sharply by 1.83 per cent to 15.23, indicating reduced market volatility.
"As the monthly expiry is approaching, market participants are advised to adopt a neutral strategy for the upcoming month," said VLA Ambala, Co-Founder of Stock Market Today.
"Nifty formed a spinning top candle on the daily chart, indicating indecision in the market," according to Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd.
The equity benchmarks continued their upward momentum on Tuesday, with both benchmark indices opening with gains, buoyed by the return of Foreign Portfolio Investor (FPI) inflows and positive sentiment stemming from the meeting between Prime Minister Narendra Modi and US Vice President JD Vance.
Market experts viewed this high-level engagement as a significant development for economic and trade cooperation between the two nations.
Analysts noted that Indian equities are showing resilience and outperforming despite weak global cues, attributing this to strong domestic fundamentals and renewed optimism over Indo-US ties.
The stocks of about 2239 shares advanced during the trading, 1243 shares declined, and 112 shares unchanged.(ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)