Nifty Flies Past 24,100 as Bulls Ignore Global Storm

Mumbai, 22 April — Indian equity benchmarks surged higher in Tuesday’s session, unshaken by weak global cues. The Nifty 50 breached the 24,100 mark, while the Sensex climbed more than 300 points, powered by robust buying in banks and metals.

The rally unfolded even as overnight the US indices tumbled, following explosive comments from former President Donald Trump, targeting Federal Reserve Chair Jerome Powell.

Opening Bell: Bulls Take Charge
The market opened flat but gained momentum soon, with ICICI Bank, SBI, and Tata Steel leading the way. The Nifty Bank index climbed more than 1.3%, lending solid support to the benchmarks.

Trump’s Fed Tirade Rattles Wall Street
Trump’s remarks holding Powell responsible for halting economic growth by not cutting interest rates ushered in a swift sell-off on Wall Street. The Dow Jones Industrial Average plunged 972 points, as the Nasdaq and S&P 500 shed over 2%, on concerns of a loss of central bank autonomy.

Indian equities remained stable, depicting investor belief in the country’s own growth story.

Nifty Powered Through Global Noise, But One Bank Fell Silent
Despite the upbeat tone across most sectors, IndusInd Bank emerged as the session’s biggest laggard, sliding over 5%. The stock came under selling pressure after its quarterly results, with investors expressing concern over asset quality, retail lending growth, and rising provisions.

Such extreme divergence reflects a rising trend of selectivity in the banking space, where fundamentals are starting to trump momentum.

Sectors in Focus: Metals Shine, IT Eyes HCLTech
Banking and metals led the charge, supported by foreign institutional investor (FII) inflows and robust macro numbers. Metals rose on global supply fears and optimism on a China demand pick-up.
IT shares continued to be range-bound, with investors eagerly expecting HCLTech’s Q4 numbers, to be released later during the day

Market Breadth & Volatility
The India VIX slipped by 2%, suggesting a decline in perceived near-term risk. Yet, traders continue to watch out for possible spillover effects from international markets.

Midcap and smallcap stocks showed mixed sentiment, with a slight tilt towards gainers.

Key Technical Levels to Watch
Nifty: Resistance at 24,250, support near 24,000
Sensex: Testing 80,000, with base support at 79,300
Bank Nifty: A breakout above 53,000 could signal continued strength

Market Outlook:
With domestic earnings now in focus and global factors taking a temporary backseat, the market continues to favour sectors with clear growth visibility.

However, rising global volatility and geopolitical uncertainty demand a measured and disciplined investment approach.

Indian markets overall again demonstrated their resilience — basking in sectoral momentum, benign macros, and strong institutional flows — even as storm clouds gathered on the international horizon.