Dalal Street experienced an exhilarating trading session as the key indices surged, marking a positive close to the day. The BSE Sensex soared by 1,310.11 points, or 1.77%, finishing at 75,157.26. Meanwhile, the Nifty 50 index climbed 429.40 points, or 1.92%, settling at 22,828.55, highlighting a robust market performance.
Broader Market Performance
The excitement wasn’t confined to just the major players. The broader market indices showcased impressive gains, with the BSE Midcap index increasing by 1.84% and the Smallcap index making an even stronger showing with a 3.04% rise. This broad-based rally underscores a healthy investor sentiment across various sectors.
Banking Sector Rebounds
A notable highlight was the Nifty Bank index, which surged during the last hour of trading, closing at 51,002.35—a remarkable uptick of 762.20 points or 1.52%. This bounce in banking stocks indicates renewed investor confidence in the financial sector.
Trading Week Overview
This week has seen a condensed trading schedule, with markets observing a closure on April 10 for Mahavir Jayanti. Looking ahead, the upcoming week will be even shorter, as trading will pause on Monday, April 14 for Ambedkar Jayanti and again on Friday, April 18 for Good Friday, leaving just three sessions for investors to navigate evolving global and domestic market conditions.
What Drove Today’s Market Surge?
A significant factor contributing to today’s market optimism was Donald Trump’s unexpected announcement of a 90-day halt on reciprocal tariffs affecting 75 countries, including India. Although the 10% base tariff remains, the suspension of additional duties alleviated concerns for industries such as steel, aluminum, and auto components, leading to a rally in export-oriented stocks.
Additionally, the declining US dollar played a crucial role in enhancing market sentiment. A weaker dollar not only boosts the competitiveness of Indian exports but also invites increased foreign portfolio investments, both of which are advantageous for the Indian equity market.
Sector Performance Highlights
The positive market atmosphere was reflected across sectors, with the Nifty Pharma and Nifty Metal indices leading the gains. Other sectors, including Auto, Healthcare, IT, Financial Services, PSU Banks, and Consumer Durables, also participated in the rally, maintaining a buoyant market throughout the trading day.
Notable Gainers and Laggards
Among the Nifty 50, the standout performers included Hindalco, JSW Steel, Tata Steel, Coal India, and Jio Financial. Conversely, the stocks that struggled included Asian Paints, Apollo Hospital, and TCS.
In summary, today’s trading session on Dalal Street has set a positive tone, driven by both domestic and international factors, paving the way for an intriguing week ahead for investors.
