IT Stocks Power Market Gains; HCL Technologies Surges Nearly 8% After Strong Q4 Results

On April 23, 2025, Indian equity markets traded with mild gains but showed volatility as the Nifty 50 and Sensex slipped from their intraday highs. Around mid-day, the BSE Sensex was up 180 points to 79,775 while the Nifty50 rose 51 points to trade near 24,218 levels.

The broader market sentiment remained cautious, with more stocks declining than advancing. However, a strong rally in the IT sector stocks helped support the headline indices. The Nifty IT index emerged as the best-performing sector of the day, surging more than 4.6% at its peak.

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The standout performer was HCL Technologies, which jumped nearly 8% after announcing robust quarterly earnings for Q4 2025. The company reported a consolidated net profit of ₹4,307 crore for Q4FY25, marking an 8% year-on-year increase. Revenue came in at ₹28,499 crore, up 5.4% YoY. The company also declared a dividend of ₹18 per share.

Other IT stocks also joined the rally. Infosys, Wipro, LTIMindtree, Coforge, and Persistent Systems gained between 3–6%, helping push the Nifty IT index to a multi-month high. Positive global cues, including a rebound in US markets, further supported the rally.

A statement from former US President Donald Trump, suggesting a possible rollback of trade tariffs on China, lifted global investor confidence. This improved outlook for outsourcing and IT demand pushed global tech stocks higher overnight, and the sentiment trickled down to Indian markets.

Despite some mixed signals from recent earnings, foreign institutional investors (FIIs) turned their focus back to IT stocks. This marks a shift from recent months when they had trimmed exposure due to weak guidance from companies like Infosys and Wipro.

Conversely, the Bank Nifty recently hit record highs, witnessed some profit booking, and underperformed the benchmark indices. Broader market indices such as the Nifty Midcap 100 and Smallcap 100 also traded with modest gains of around 0.5%.

Meanwhile, volatility rose as the India VIX index climbed 3% to near 15.8, suggesting some nervousness ahead of the upcoming earnings season and global events.

Investors are now looking forward to key results expected later in the day from companies like Tata Consumer Products, Bajaj Housing Finance, and LTIMindtree, which could influence short-term market direction.

Overall, the market remained range-bound, but sector-specific buying, especially in IT, relieved investors amid uncertain global and domestic cues.

Conclusion

The Indian stock market saw modest gains on April 23, 2025, primarily driven by a strong rally in IT stocks led by HCL Technologies’ impressive Q4 results. Despite overall market volatility and mixed trends in broader indices, the upbeat performance of major IT companies helped cushion the impact of profit booking in banking and other sectors. With foreign investor interest returning to tech and global sentiment improving, the IT sector remains a key driver for the market’s near-term momentum.