Indian Stock Markets Surge: Nifty and Sensex Rally into Seventh Day

Indian stock markets continued their upward trajectory for the seventh consecutive session on Tuesday. The rise is attributed to foreign investor buying and improved global sentiment. However, potential trade tariffs announced by Trump on April 2 pose a challenge. The Nifty 50 and BSE Sensex opened with notable gains.

Indian stock markets maintained their upward momentum on Tuesday, marking a seventh consecutive day of gains. The Nifty 50 index commenced trading at 23,751.50, reflecting an increase of 93.15 points, or 0.39%, while the BSE Sensex opened at 78,296.28, up by 311.90 points, or 0.40%.

According to experts, the market's recovery is largely driven by foreign investors. However, analysts caution that potential challenges remain, especially as former President Trump is set to announce new trade tariffs on April 2. Market expert Ajay Bagga elaborated to ANI that Indian markets are benefitting from substantial short covering by Foreign Portfolio Investors (FPIs) and domestic investors caught off-guard by the recent surge. Notably, FPI net inflow into cash markets marks a first since December and September of 2024.

Global sentiment is reportedly on the mend, providing additional support. A report from the Wall Street Journal indicated that the anticipated Trump Reciprocal Tariffs might be less comprehensive than expected, offering exceptions to certain sectors and countries, sparking a global relief rally. Among the NSE sectoral indices, the Nifty PSU Bank index showed a gain of 0.62%, with all sectors displaying signs of recovery. Notable gains were also recorded by Nifty Auto at 0.51% and Nifty IT at 0.87%.

The top gainers in the Nifty 50 opening session included Ultratech Cement, HCL Tech, TCS, Infosys, and Wipro, while the primary losers were Dr. Reddy's, Britannia, IndusInd Bank, and Apollo Hospitals. Axis Securities' Head of Research, Akshay Chinchalkar, noted that while the Nifty rose for the sixth consecutive day, the demand for protection via India VIX also increased. He emphasized that, although market breadth is positivity-oriented, the recent advance has been quite steep, urging bulls to remain cautious.

In broader Asian market trends, all indices, except Hong Kong's Hang Seng and South Korea's KOSPI, posted gains at the time of reporting. Japan's Nikkei 225 rose by 0.7%, and Taiwan's Weighted Index increased by 0.72%. (ANI)

(With inputs from agencies.)