 "Bulls return to Indian stock market after long weekend: Sensex, Nifty leap over 2 per cent")
The Indian stock market on Tuesday (April 15) soared high following a hiatus due to the long weekend.
Flipping the losing trend noted last week, both Indian benchmark indices– Bombay Stock Exchange’s Sensex and National Stock Exchange’s Nifty 50– jumped over two per cent.
The development mirrored global market strength following US President Donald Trump’s tariff exemptions announcement for electronic goods.
Rallying for the second straight session, the 30-share Sensex closed with gains of 1577.63 points, or 2.10 per cent to end the day at 76,734.89. The broader Nifty 50 index leapt 500 points or 2.19 per cent. It closed at 23,328.55.
Vinod Nair, Head of Research, Geojit Investments Limited, said that “The rally is fuelled by the surprise pause in reciprocal tariffs which continued today led by the exemption on electronics goods also[…]Auto stocks gained on potential tariff relief and banking stocks benefited from deposit rate cuts.”
Trump has suggested that he might temporarily exempt the auto industry from tariffs that were imposed earlier.
In the Sensex pack, the top gainers were IndusInd Bank, Tata Motors, Larsen and Toubro, Axis Bank, and Adani Ports. Shares of only two companies— ITC and Hindustan Unilever— ended the day in red.
In the Nifty 50 index, IndusInd Bank, Sriram Financial, Tata Motors, Larsen and Toubro, and Axis Bank were the top gainers. ITC was the only laggard.
Ajit Mishra, SVP, Research, Religare Broking Ltd, shared his prediction for where the markets could go from here next. If Nifty 50 moves decisively above 23,400 levels, it would further reinforce the recovery trend visible now. The sharp 20 per cent decline in India VIX (Volatility index) has boosted the bullish sentiment.
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More Shorts“We recommend maintaining a stock-specific trading approach, with an emphasis on quality stock selection and disciplined trade management,” Mishra said.
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