Stock Market Today: Sensex Jumps 725 Points, Nifty Over 23,850
Indian equities started the trading day on a positive note on Tuesday, with the Sensex and Nifty marking their seventh consecutive session of gains, supported by strong global cues. Investor sentiment was uplifted after reports indicated that US President Donald Trump might reduce some of the planned tariffs, easing concerns about a potential global trade war.
At 10 am, the Sensex rose by 646.24 points, or 0.83 percent, to reach 78,630.62, while the Nifty gained 171.05 points, or 0.72 percent, to reach 23,829.40. Among the stocks, 1,607 advanced, 1,577 declined, and 139 remained unchanged.
Broader Market Update
The broader market traded mostly flat in today’s session, with the Nifty Midcap 100 edging up by 0.05 per cent, while the Smallcap 100 dipped by 0.2 per cent. Experts remain cautious, suggesting that the recent correction might not be over yet and warning of potential downside risks ahead. Year-to-date, both indices are still in the red, with midcaps down 8 percent and smallcaps losing 12 per cent, highlighting ongoing weakness in these segments.
Sectorial Update
Among sectoral indices, Nifty IT stood out as the top performer, gaining over 1 per cent, led by strong performances from Infosys, TCS, HCL Tech, and Wipro. Nifty Realty followed closely with a 1 per cent increase, while Nifty Bank rose by 0.33 percent. On the other hand, Nifty Metal was the biggest underperformer, dropping more than 1 per cent. Additionally, Oil & Gas fell by 0.7 per cent, PSU Bank declined 0.6 per cent, and Auto edged down 0.4 per cent.
Indian benchmark indices delivered a strong performance on Monday, posting notable gains, fueled by the BFSI and IT sectors, along with support from other market segments.
Expert Comment
VK Vijayakumar, Chief Investment Strategist, Geojit Investments, noted, “The 5.6 per cent rally in the Nifty from the recent lows has been driven by a combination of factors like FIIs turning buyers (Rs 13765 crores in the last three days), the consequent short-covering and improving macros of the Indian economy. The surge in mid and smallcaps has brought the retail investors aggressively back into the market. Even though the market momentum favours the bulls there is no fundamental support to take the market much higher from the present levels, particularly when President Trump’s Damocles sword of reciprocal tariff is hanging over the head of markets.”
“IT has been underperforming on fears on US growth slowdown impacting the Indian IT industry. The risk-reward in IT stocks is now favourable for buyers. Trump’s latest message that he will be “flexible” on tariffs and will “give breaks to many countries” has aroused hopes on some softer treatment to India. But we will have to wait till April 2nd,” he added.
Global Market
The S&P 500 reached its highest point in over two weeks on Monday, buoyed by gains in Nvidia and Tesla, following signs of a more balanced approach to tariffs by the Trump administration.
Asian stocks rose early Tuesday, reflecting the strong performance in US markets, which was fueled by expectations that President Donald Trump’s trade restrictions would be less severe than originally feared.
Foreign institutional investors (FIIs) showed strong interest in Indian equities, purchasing shares worth Rs 3,055.76 crore on Monday, while domestic institutional investors (DIIs) bought shares totaling Rs 98.54 crore.