Dalal Street wrapped up the day on a high note, with benchmark indices flashing gains in today’s session. The Sensex jumped 1310.11 points or 1.77% to settle at 75,157.26, while the Nifty closed firmly in green at 22,828.55, rising 429.40points or 1.92%.
Mid & Small Caps join the party
The rally was not limited to the big names. Broader markets outperformed, with the BSE Midcap index rising 1.84% and the Smallcap index climbing 3.04%.
Banking stocks bounce back
The Nifty Bank also surged in the last trading hour to close at 51,002.35, up 762.20 points or 1.52%.
Market holidays
This week had just four trading sessions, with markets shut on April 10 for Mahavir Jayanti. Next week will be even shorter, trading will be paused on Monday, April 14 for Ambedkar Jayanti and again on Friday, April 18 for Good Friday, leaving just three sessions for investors to react to both global and domestic developments.
What Fuelled the market mood today?
One of the biggest mood-boosters this week was Donald Trump’s surprise announcement of a 90-day suspension on reciprocal tariffs for 75 countries, including India. While the 10% base tariff still holds, the relief on additional duties lifted pressure from sectors like steel, aluminium, and auto components, fueling a rally in export-heavy stocks.
Another key factor was the declining US dollar, which is generally seen as positive for emerging markets like India. A weaker dollar not only makes Indian exports more competitive but also paves the way for increased foreign portfolio inflows, both of which contribute to stronger equity market sentiment.
The sectoral performance reflected the upbeat mood, with Nifty Pharma and Nifty Metal indices leading the charge. Auto, Healthcare, IT, Financial Services, PSU Banks, and Consumer Durables also joined the rally, keeping the broader market buoyant through the day.
Key gainers and losers
Among the Nifty 50, the top gainers included Hindalco, JSW Steel, Tata Steel, Coal India and Jio Financial, while laggards were led by Asian Paints, Apollo Hospital, and TCS.