On Tuesday, the Indian stock market experienced a sharp rise with both the benchmark indices, Sensex and Nifty50, recording impressive gains. This upward momentum was driven by broad-based buying across various sectors and investor optimism, fueled by positive global market cues. The rally was further supported by U.S. President Donald Trump’s announcement of tariff exemptions for electronics, which boosted investor sentiment.
The BSE Sensex surged by 1,562.54 points, or 2.08%, reaching 76,719.80, while Nifty50 saw a gain of 477.25 points, or 2.09%, climbing to 23,305.80. This rise reflects a strong rebound in market confidence, influenced by multiple factors including global market performance, investor activity, and sectoral growth in India.
Top Gainers and Sector Performance
Among the top-performing stocks, Tata Motors, L&T, HDFC Bank, and M&M made significant gains, with Tata Motors leading the way with a 5.03% rise. L&T gained 3.85%, and HDFC Bank saw an increase of 3.53%. Other notable gainers included Adani Ports, ICICI Bank, and Bharti Airtel. On the other hand, stocks like ITC, Asian Paints, and Hindustan Unilever witnessed minor declines.
In terms of sector performance, broad market optimism reflected in the sectoral indices. The Nifty Auto index rose by 3.20%, driven by strong automobile stock performance. The Nifty IT index gained 1.50%, benefiting from positive movements in technology stocks. Additionally, the Nifty Metal index climbed 2.52%, while the Nifty Realty index saw a 3.56% increase, reflecting the strong performance in real estate.
Factors Supporting Market Growth
Several factors played a key role in supporting the surge in the stock market. The Indian rupee strengthened by 39 paise to 85.71 against the US dollar, benefiting from a rally in Indian stock markets and low oil prices. Additionally, the delay in US tariffs on India helped further stabilize the currency.
Oil prices saw a modest increase, with Brent crude rising by 0.2% to $64.88 per barrel. This uptick was supported by positive news regarding China’s oil imports. Despite concerns about the global economy and fuel demand, the oil price rise was contained.
Internationally, Asian markets performed well, with Japan’s Nikkei 225 and South Korea’s Kospi seeing positive movement. The US market also ended the previous session on a high note, which provided further optimism to global investors.
Foreign investors continued to sell Indian stocks, withdrawing Rs 2,519 crore on April 11. However, domestic investors stepped in to buy stocks worth Rs 3,759 crore, providing crucial support to the market.
