Indian stock markets kicked off the trading day on a positive note, buoyed by trends from both Asian and American markets. The NSE Nifty 50 index surged by 45 points or 0.19%, starting at 23,210, while the BSE Sensex gained 177 points or 0.23% to begin at 76,201.
Market Highlights
- Bank Nifty opened strong, climbing 230 points or 0.45% to reach 51,037.85.
- The Nifty Midcap 100 also saw an uptick, advancing 172 points or 0.33%, opening at 51,401.10.
The GIFT Nifty hinted at a bullish sentiment for the equity markets, showing an increase of 47 points or 0.20%, resting at 23,332. During the pre-market phase, Nifty 50 rose by 27 points or 0.12% to 23,192.60, while Sensex saw a boost of 122 points or 0.16%, reaching 76,146.28.
Insights from Experts
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted, “The uncertainty surrounding reciprocal tariffs is expected to decrease with today’s tariff announcement. However, given Trump’s previous shifts on tariffs, some unpredictability is likely to linger.”
He further commented on recent market dynamics, stating, “The influx of Foreign Institutional Investors (FIIs) buying in late March appeared to be influenced by end-of-year factors. This buying led to short-covering, which helped India’s market outshine its peers last month. Now, with FIIs offloading Rs 10,255 crores in the cash market over two days, shorting has resumed.”
Top Performers and Trends
In the Nifty 50, notable gainers included Tata Consumer Products, Infosys, HDFC Bank, HDFC Life Insurance, and Maruti Suzuki. Conversely, significant decliners were BEL, Nestle India, Jio Financial Services, Hindustan Unilever, and Power Grid Corporation.
On April 2, market breadth leaned towards the bears, with 655 out of 2,294 stocks trading positively, while 1,572 stocks faced declines, according to NSE data.
Sector Performance
Among sector indices, only the Nifty IT and Realty sectors managed to secure gains in today’s trading session.
Gold Price Update
In addition to equity movements, gold prices have surged, reaching a new peak of Rs 89,340, surpassing the previous high of Rs 89,310. This marks a 1.4% increase from a week ago when gold was priced at Rs 88,100 per 10 grams. The 22 kt gold rate today stands at Rs 81,895, while 18-carat gold is priced at Rs 67,005 within India.
As the day unfolds, investors will be keenly watching these developments to strategize their next moves in the market.
