Business

Indian Stock Market Opens Over 1,000 Points Up Amid Global Uncertainty

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

Purnima Mishra

Recent Posts

PM Modi Calls India-Central Asia Partnership ‘Force Multiplier’ For Regional Global Stability

PM Narendra Modi met with the Foreign Ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan…

12 mins ago

PM Modi, Canadian PM Carney Hold Talks; India To Attend G7 Summit In June

PM Narendra Modi spoke with Canada's new Prime Minister Mark Carney on Friday, congratulating him…

1 hour ago

Vedanta Boosts Green Energy Push; Surpasses 1 GW Renewable Energy Mark

On the occasion of World Environment Day, Vedanta Ltd announced a significant milestone in its…

2 hours ago

FDI Inflows In India Surpass $500 Billion In A Decade; Driven By Key Reforms

India attracted over $500 billion in foreign direct investment (FDI) equity inflows between 2014 and…

2 hours ago

PM Modi Takes Dig At Pakistan For Attacking ‘Insaniyat’ & ‘Kashmiriyat’

PM Narendra Modi strongly condemned Pakistan for the Pahalgam terror attack, accusing it of trying…

3 hours ago

PM Modi Attacks Pakistan Over Pahalgam Terror Incident; Hails Operation Sindoor

PM Narendra Modi on Thursday launched a scathing attack on Pakistan for attempting to derail…

4 hours ago