10 Key Highlights of Indian Stock Market Today
The Indian stock market saw a strong rise on Tuesday, April 8, following gains in global markets. Even though there is still uncertainty about the global trade war, hopes of an agreement helped improve investor mood.
Many countries are talking to the US government after President Donald Trump announced new tariffs on April 2. Japan and the European Union have shown interest in avoiding a trade war, which gave a positive push to markets.
Japan’s stock market (Nikkei) rose sharply by 5.68%. In Europe too, markets like FTSE, CAC, and DAX were trading higher when Indian markets closed.
In India, the Sensex ended its three-day losing streak and jumped 1,089 points (1.49%) to close at 74,227. The Nifty 50 also went up by 374 points (1.69%) to end at 22,536.
Smaller companies did even better. The BSE Midcap index rose by 1.87%, while the Smallcap index went up by 2.18%.
Investors gained around ₹8 lakh crore in just one day, as the total value of all companies listed on the BSE increased from ₹389 lakh crore to nearly ₹397 lakh crore.
Stock market today: 10 key highlights
Here are 10 key highlights of the Indian share market today:
1. Why did the Indian stock market rise today?
The domestic market witnessed gains amid positive global cues, driven by hopes that a major global trade war may be averted and most nations would strike a deal with the Trump administration.
“Positive global market cues aided the massive recovery in local benchmarks, as concerns over US trade tariffs faded a bit on hopes that most of the nations would work out ways to overcome the challenge. With India largely being a consumption-led economy, the US tariff impact may not hurt the country in a major way compared to some of the other nations,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. Investors are also focused on the monetary policy decision due Wednesday. The Reserve Bank of India is expected to cut rates by another 25 bps.
2. Top Nifty 50 gainers today
As many as 49 stocks ended in the green in the Nifty 50 index, among which Jio Financial Services (up 5.61 per cent), Shriram Finance (up 5.21 per cent) and Bharat Electronics (up 3.69 per cent) ended as the top gainers.
3. Only one Nifty stock ends in the red
Power Grid Corporation of India (down 0.09 per cent) was the only Nifty member that ended in the red on Tuesday.
4. Sectoral indices today
All sectoral indices ended with gains, with Nifty Media (up 4.72 per cent), PSU Bank (up 2.64 per cent), Consumer Durables (up 2.59 per cent), Realty (up 2.47 per cent) and Oil & Gas (up 2.20 per cent) jumping 2-5 percent.
Nifty Bank closed 1.31 per cent higher, while the Financial Services index jumped 1.64 per cent.
5. Most active stocks in terms of volume
According to NSE data, Vodafone Idea (62.59 crore shares), YES Bank (8.2 crore shares), and Tata Steel (6.9 crore shares) were the most active stocks in terms of volume.
6. 52 stocks hit 52-week highs
IndiGo, Atal Realtech and GRM Overseas were among the 52 stocks that hit their 52-week highs in intraday trade on the BSE.
7. 54 stocks hit 52-week lows in a positive market
Some 54 stocks, including Jai Corp, Orchid Pharma and LG Balakrishnan & Bros, hit their 52-week lows in intraday trade on the BSE.
8. 124 stocks hit upper price bands on the NSE
Shares of Godfrey Phillips India, Garware Hi-Tech Films and Parsvnath Developers were among the 124 stocks that hit their upper price band during the session on NSE.
9. Advance-decline ratio
According to provisional data, 2,391 stocks advanced on the NSE on Tuesday, while 499 declined and 67 remained unchanged.
10. Nifty 50 outlook
Nifty Key Level at 22,330, Says Market Expert
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said that the 22,330 mark is an important level to watch for the Nifty.
He explained that if the index stays above 22,330, it could rise towards 22,700 or even 22,800. But if it fails to hold this level, selling may increase and the index might fall to 22,110 or 22,000.
“If this level is breached, the market could retest 22,110-22,000. The current market texture is extremely volatile and uncertain; thus, a level-based trading strategy would be ideal for day traders,” said Chouhan.