Indian equity markets ended on a strong note on April 27, with benchmark indices BSE Sensex and Nifty 50 posting sharp gains, driven by positive sentiment following the India-New Zealand Free Trade Agreement (FTA) and easing global geopolitical concerns.
Key Highlights
- Sensex jumps over 600 points, Nifty crosses 24000 on FTA optimism and easing tensions.
- Pharma IT and realty stocks lead gains as broader markets outperform benchmarks strongly today.
The Sensex surged 639.42 points, or 0.83%, to close at 77,303.63, while the Nifty 50 rose 194.75 points, or 0.81%, to settle above the crucial 24,000 mark at 24,092.70.
Investor confidence strengthened after India and New Zealand finalized a key trade agreement in New Delhi in the presence of Commerce Minister Piyush Goyal and his counterpart Todd McClay.
The agreement eliminates tariffs on 100% of India’s exports to New Zealand and significantly reduces or removes tariffs on 95% of imports, boosting optimism around trade expansion and export growth.
Also Read: Indian stock market: Sensex Crashes 1,000 Points, Nifty Below 23,900
Broader Markets Outperform Benchmark Indices
The rally extended beyond frontline indices, with broader markets outperforming wherein Nifty MidCap gained 1.55% and Nifty SmallCap advanced 1.96%. On the Sectoral front, gains were led by pharma, IT, and realty stocks, while banking and financial services stocks lagged.
Top gainers included Adani Ports, Sun Pharma, NTPC, Tech Mahindra, and Tata Steel, while Axis Bank, BEL, Trent, and ICICI Bank were among the laggards.
The Indian rupee traded marginally stronger at around 94.16 against the US dollar, rising 0.07% during the session. “In the near term, the rupee is expected to trade in the 93.75–94.50 range, with volatility likely to remain elevated,” market experts noted.
