Gold Price Hits 1 Lakh Mark | HDFC Bank Hits New Milestone | Top Buzzing Stocks Today

Wed, 23 Apr Pre-Open

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After opening in green, Indian benchmark indices gained momentum throughout the session, ultimately closing in positive territory.

The BSE and the NSE benchmark indices extended the winning streak to the sixth straight trading day on Tuesday backed by gains in FMCG and private banking shares.

At the closing bell on Tuesday, the BSE Sensex  closed higher by 187 points ( up 0.2%)

Meanwhile, the NSE Nifty closed points 42 higher ( up 0.1%)

HDFC Bank, Kotak Mahindra Bank, Sun Pharma among the top gainers today

IndusInd Bank, Bharti Airtel, Adani ports on the hand, were among the top losers today.

The BSE MidCap index ended 0.7% higher and BSE SmallCap index ended 0.8% higher.

Sectoral indices were trading mixed with stocks in media sector and IT witnessing selling pressure. Meanwhile, stocks in realty sector and financial services sector witness buying.

Speaking of the stock markets, research analyst Tanushree Banerjee highlights how the global semiconductor supply chain remains highly concentrated.

While the US dominates chip design with a 64% market share, the bulk of manufacturing and assembly takes place in Asia. Over the past three decades, Taiwan, South Korea, and China have emerged as powerhouses, now controlling over 85% of the global foundry market.

Amid this backdrop, India has been steadily making progress across various segments of the chip design value chain.

So, what does this mean for India's semiconductor stocks? Watch this video to find out.

Top buzzing stocks today

IndusInd shares will be in focus today.

In the news from the banking sector, shares of IndusInd bank dropped 6% to Rs 776 per share on 22 April 2025.

This happened because of the new that the bank's board has hired Ernst & Young to conduct a second forensic audit to investigate a Rs 6 billion (bn) discrepancy related to interest income from its microfinance loans.

Since 10 March, the company revealed issues with its derivatives, the share price has been dropped by 11%. But since past few trading the stock price jumped 16% after the bank addressed the problem.

Tata Investments shares will also be a top buzzing stock.

Moving on to the news from financial services sector, shares of Tata Investments drop 2.7%. This happened after the company released its Q4FY25 results.

The company's Q4 net profit declined 37.6% to Rs 0.4 bn, and revenue dropped to Rs 0.2 bn from Rs 0.6 bn and Rs 0.6 bn respectively in the same period last year.

Tata Investments Corporation's board recommended a dividend of Rs 27 per share and approves the re-appointment of Rajiv Dube as the Independent Director for the second 5-year term starting 15 October 2025.

HDFC Bank hits new market milestone

HDFC Bank share on 22 April, becomes the third Indian company to achieve Rs 1500 bn market cap.

Before HDFC, Reliance Industries and TCS had also achieved this milestone, driven by strong post-Q4 results share price growth.

The bank's profit for the January-March quarter of 2025 was Rs 1761.6 billion (bn) showing a 6.6% increase from the same quarter last year.

HDFC Bank's total income for the quarter was Rs 894.8 bn, slightly down from Rs 896.4 bn in the same quarter last year.

HDFC Bank's interest income increased to Rs 774.6 bn in Q4 2024-25 from Rs 714.73 bn last year. The bank's balance sheet size grew to Rs 3910 bn as of 31 March 2025, up from Rs 3617 bn a year ago.

Chief financial Officer Srinivasan Vaidyanathan also added that HDFC Bank expects its loan growth to surpass the industry's growth rate in fiscal year 2027.

Indian Rupee Exchange Rate Fluctuations

The Indian rupee fell after a 5-day rise due to increasing oil prices and a stronger US dollar.

The Indian rupee closed at 85.20 against the US dollar, down 7 paise from its previous close of 85.13. This marks the end of a five-day winning streak. Despite the recent dip, the rupee has gained approximately Rs 1.5 in the last six sessions.

The market is consolidating after a recent strong rally, and without any new triggers, the rupee is trading within a narrow range.

The Chinese yuan weakened after its central bank set a lower daily fix, which negatively impacted other Asian currencies, including the Indian rupee, during Tuesday's trading session.

Gold Price Hits Rs 1 Lakh Mark

The rates of gold in India surged Rs 1 lakh mark per 10 grams, a sharp rally in the global markets.

The price of gold increased by Rs 1,650 and now costs Rs 99,800 for 10 grams. When you add the government tax (GST) and the cost of making the jewellery, the total price becomes over Rs 1 lakh.

Gold prices increased due to investor concerns over US political tensions. After President Trump's criticism of the Federal Reserve Chief, investors lost confidence and sought safe investments. As a result, they turned to gold, driving its price up to a new record high.

This happens because gold is seen as a stable asset during uncertain times.

The US dollar fell to a two year low after the President Trump criticized Federal Reserve Chair Jerome Powell, raising concerns about the central bank's independence and potentially impacting the global markets.

The European Central Bank lowered the interest rates which boosted gold prices. Gold is currently very unpredictable, and its price might stabilize if there is positive news on the US-China trade deal.

Gold prices have risen over 30% this year due to trade tensions, making investors seek safe investments. Meanwhile, the US dollar has dropped by more than 4%. Gold's surge is also supported by increased investments in gold-backed funds and central banks buying more gold.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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