Indian equity benchmarks recovered in Tuesday's trade after suffering losses the previous day due to a global selloff over further trade war escalation concerns. Gains in all sectoral indices propelled the increase in domestic stocks. At 74,339, the 30-share BSE Sensex was up 1,201 points, or 1.65 percent, at the time of the last check, while the wider NSE Nifty was up 22,540, or 1.71 percent. With the Nifty Midcap 100 up 1.93 percent and the small-cap index up 2.14 percent, mid- and small-cap stocks were also rising in value.
The BSE market capitalization (m-cap) increased by almost Rs 6.9 lakh crore as a result of the domestic bourses' sharp rise. The indices rose as a result of buying interest in a few major players, including HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, SBI, Larsen & Toubro (L&T), and Axis Bank.
Here's a look at today's market increase in numbers.
Investor wealth rises to Rs6.9 lakh crore
The BSE m-cap indicated that investor wealth increased by Rs 6.85 lakh crore to Rs 396.11 lakh crore today, up from Rs 389.25 lakh crore the previous session.
13 stocks reached 52-week high levels on the BSE
As many as 13 stocks reached 52-week highs today. Some lesser-known names, such as Desco Infratech Ltd, GRM Overseas Ltd, India Shelter Finance Corporation Ltd, and NACL Industries Ltd, hit one-year highs. Nonetheless, 27 stocks fell to their one-year lows today.
Asian Market
Asian shares regained some strength following Monday's bloodbath, despite US President Donald Trump's threat to impose an additional 50% tariff on China if reciprocal measures by Beijing are not lifted immediately. China, on the other hand, has vowed to fight "till the end," indicating that the world's two largest economies will intensify their tariff war.
FII-DII data
Domestic institutional investors (DIIs) purchased shares worth Rs 12,122.45 crore during the previous session, while foreign institutional investors (FIIs) sold shares worth Rs 9,040.01 crore net, according to stock exchange data.
Trump's aggressive tariff policies are sparking fears of a full-fledged trade war. Until tensions subside, the Nifty may face continued pressure. Traders are looking forward to the RBI's potential 25 basis point (bps) rate cut on April 9 and corporate earnings led by TCS on April 10," said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.
BSE market breadth
The overall market breadth was positive, with 2,618 shares advancing and 410 declining on the BSE. 104 remained unchanged.
Nifty outlook
"The key support for the Nifty is at 21,281. Meanwhile, bearish bets are being placed on stocks such as Adani Enterprises, Oberoi Realty, and M&M, with Adani slipping from the overbought zone," according to Tapse of Mehta Equities.
