Research Report on Equity Markets April 22, 2024
Market Summary :
India’s benchmark indexes logged their biggest five-day gains since February 2021, boosted by heavyweight financials following better-than-expected earnings, while a weaker U.S. dollar further propped up investor sentiment. The Nifty 50 gained 1.15% to 24,125.55 on Monday, while the BSE Sensex rose 1.09% to 79,408.50. In the last five sessions, the benchmarks have risen nearly 8%. Financials, which comprise over 37% of the Nifty 50, have jumped 9.5% in five sessions and hit lifetime highs. ICICI Bank and HDFC Bank jumped 0.2% and 1.1%, respectively, on Monday and hit fresh record highs after reporting better-than-expected earnings over the weekend. Strong earnings from ICICI Bank and HDFC Bank lifted the banking index on Monday.
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