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Indian stock market opened in the green on Tuesday, with key indices receiving a boost from major heavyweights like Titan, Tata Steel, and Adani Ports.
These stocks lifted investor sentiment despite ongoing global uncertainties, especially concerning US tariffs.
By 9:21 AM, the Sensex surged 1,169 points or 1.60%, reaching 74,307, while the Nifty rose by 375 points or 1.69%, reaching 22,536.
Broad-Based Market Rally
Both large-cap and mid-cap stocks saw positive movements.
The Nifty Midcap 100 index gained 1,094 points or 2.24%, reaching 49,903, while the Nifty smallcap 100 index rose by 356 points or 1.75%, reaching 15,424.
All sectoral indices were in the green, with significant gains in the PSU Bank, financial services, metal, realty, energy, private banking, infrastructure, and real estate sectors.
Top Gainers In Sensex Pack
Among the Sensex stocks, Titan, Adani Ports, Tata Motors, Bajaj Finserv, SBI, Axis Bank, UltraTech Cement, Tata Steel, IndusInd Bank, Zomato, Bajaj Finance, and NTPC were the major gainers. TCS was the only stock trading in the red.
Meanwhile, market analysts predict that the heightened global uncertainty and volatility, driven by US tariffs, will persist for some time.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, “There are significant takeaways from the ongoing chaos. One, the trade war is likely to remain confined to the US and China. Other countries, including the EU and Japan, have opted for negotiations. India has already begun talks with the US on a Bilateral Trade Agreement (BTA). Two, the risk of a US recession has increased. Three, China is likely to be the hardest-hit economy.”
Vijayakumar added that investors would likely remain in a wait-and-watch mode as clarity would take time to emerge.
Asian Market Shows Positive Momentum
Asian markets experienced buying activity, with Tokyo, Shanghai, Hong Kong, and Seoul trading in the green.
However, US markets closed negatively on Monday due to recession fears.
Foreign Institutional Investors (FIIs) continued their selling spree for the sixth consecutive session on April 7, offloading equities worth Rs 9,040 crore.
On the other hand, Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth Rs 12,122 crore.
Prashanth Tapse, Senior VP (Research) at Mehta Equities, noted that traders are closely watching the Reserve Bank of India’s (RBI) expected 25bps rate cut on April 9 and the upcoming corporate earnings reports, particularly from TCS, on April 10.
Also Read: Adani Ports Starts Operations At Colombo West Terminal, Promises Jobs And Growth
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