Market Rally: 7 Days of Gains Continue

• Frontline indices, the Sensex and Nifty 50, posted solid gains on Wednesday, April 23, marking their seventh straight session in the green amid positive global cues. This is the second such winning streak in five weeks.

• The rally was supported by sustained foreign inflows, easing inflation, and forecasts of a favourable monsoon. Corrective declines remained absent, driven by continued value buying from increasingly optimistic foreign institutional investors (FIIs).

• A key driver of sentiment was the expectation that India could significantly benefit from the ongoing trade tariff tensions between the US and China.

Vardhman Special Steels +20.00%

• Vardhman Special Steel shares jumped 20% despite weak quarterly results, fueled by renewed investor confidence after announcing a ₹2,000 crore capex plan.

• The proposed greenfield project, focused on long-term expansion, helped ease concerns over subdued market demand.

Havells India (3.11%)

• Havells' shares fell nearly 3% despite strong March quarter earnings, as cautious commentary on weak urban demand for air conditioners due to the delayed summer triggered a sell-off.

• World Bank lowers India’s FY26 growth forecast to 6.3% on weak tax collection. (ET)

• US tariff measures to have limited impact on Indian banks. (US)

• Gold demand may soften in the short term due to the recent price surge. (ET)

There are no mainboard IPOs this week.

M&A / Investments

• Nuveen invests ₹115 crore ($13.5Mn) in Fabric & Intellicar’s Series A. (YS)

• CARS24 acquires auto portal Team‑BHP. (YS)

• Ampivo AI takes 51% stake in Commerce Forever. (EN)

• Accenture acquires TalentSprint from NSE Academy. (EN)

Debt

• Adani Airport unit seeks a ₹6,423 crore ($750Mn) loan from global banks. (BS)

VC