Markets Experience Biggest Weekly Gain in Over Two Years; Nifty Closes Above 23,800
New Delhi, April 17, 2025 – The Indian equity markets have witnessed a remarkable surge, posting their most substantial weekly gains in over two years. The Nifty 50 index closed above the 23,800 mark, while the Sensex propelled past 78,500, both reaching their highest levels in over three months. The positive momentum continued throughout the trading week, culminating in a notable rally on Thursday.
Strong Market Performance
As of April 17, the Nifty 50 ended the day at 23,852, marking an increase of 414 points. The Sensex also saw a significant rise, gaining 1,509 points to reach 78,553. In addition, the Nifty Bank index experienced a staggering gain of 1,172 points, closing at 54,290—its highest level in seven months and the second-highest closing value ever recorded.
Overall, Indian equity benchmarks, including the Nifty Midcap 100, each experienced over a 4% rise this week, propelled largely by widespread buying activity concentrated in the financial and real estate sectors. The Nifty Bank index recorded a robust weekly gain of more than 6%, the sector’s strongest performance in nearly twenty-four months.
Key Contributors to Market Surge
Leading the charge were major financial institutions, with HDFC Bank, ICICI Bank, and IndusInd Bank emerging as the top contributors to the rally. In total, 49 out of the 50 stocks listed on the Nifty experienced weekly gains. Some financial stocks surged as much as 15% over the week, showcasing the strength of this sector.
In addition to the banks, other significant gainers included Axis Bank, Shriram Finance, Adani Ports, and Bharti Airtel. Among mid-cap stocks, notable performers included Delhivery, IREDA, NBCC, Zee Entertainment, and Macrotech Developers.
Day’s Highlights
On Thursday, besides the overall gains in key indices, individual stocks saw impressive performances. Shares of IndiGo, HDFC Bank, ICICI Bank, Bharti Airtel, and Eicher Motors reached record highs during the trading session. However, not all stocks fared well; Wipro was the leading Nifty loser, which fell 4% following a disappointing Q4 earnings report and lackluster guidance for the upcoming quarter.
Despite some negative movements, IT stocks showed signs of resilience, with Coforge and Persistent Systems bouncing back, each rising over 6% from earlier day lows. Additionally, HDFC Asset Management Company reported a healthy 30% year-on-year revenue increase, which bolstered investor sentiment.
Market Breadth and Overall Sentiment
Market breadth was favorably skewed, with the NSE advance-decline ratio standing at 2:1, indicating broad participation and bullish sentiment across various sectors. Analysts noted that the current market rally reflects strong fundamentals and investor confidence in the banking and financial sectors.
As the week wraps up, market participants are encouraged to stay informed and consider the implications of ongoing economic developments that could influence future trading activities.
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