Indian Stock Market Soars: What’s Driving the Bull Run Today?
Market Surge Amid Positive Global Signals
Mumbai: On Tuesday, India's major stock indices experienced a significant rally during early trading, fueled by favorable global indicators that boosted investor confidence.
Following the market's opening, the Nifty 50 index rose by 467 points, marking a 2.05% increase to reach 23,295.55, while the Sensex climbed 1,569.89 points, or 2.09%, to hit 76,727.15.
Every sector index showed positive movement, with Nifty Auto leading the charge, surging nearly three percent. The Nifty Bank index also saw a two percent increase, alongside notable gains in IT, pharma, and metal sectors.
Shares of Tata Motors, M&M, and Bharat Forge jumped as much as eight percent in the early session.
However, the broader market indices lagged behind the benchmarks, with both the Nifty Smallcap 100 and Nifty Midcap 100 rising by 1.3% each during early trading.
The Indian rupee appreciated by 20 paise, opening at 85.85 against the US dollar, compared to its previous close of 86.05.
Market analysts noted that the recent decision by US President Donald Trump to pause tariffs for 90 days has positively influenced market sentiment.
“Following the positive start, the Nifty is expected to find support at 23,000, with further support at 22,900 and 22,800. On the upside, 23,200 may serve as immediate resistance, followed by 23,360 and 23,500,” explained Mandar Bhojane from Choice Broking.
On the institutional side, foreign institutional investors (FIIs) continued their selling trend for the ninth consecutive session on April 11, offloading equities worth Rs 2,519 crore. Conversely, domestic institutional investors (DIIs) were net buyers, acquiring equities worth Rs 3,759 crore on the same day.
While bulls appear to maintain their momentum, experts caution that intraday volatility and profit-taking near resistance levels are likely.
“Trump’s shift suggests a more diplomatic stance and paves the way for negotiations. Although we may have seen the worst of trade uncertainties, challenges remain ahead. With volatility at historic highs, the potential for a decline seems greater than for an increase,” stated Devarsh Vakil, Head of Prime Research at HDFC Securities.