India’s stock markets witnessed a significant surge on Tuesday, April 15, with benchmark indices hitting new highs amid positive global cues and strong sectoral performance.
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The BSE Sensex surged over 1,700 points (2.22%) to trade at 76,850, marking one of its sharpest single-day rallies in recent weeks. Nifty increases more than 500 points.
All 30 components of the Sensex were trading in the green. Top gainers included:
- IndusInd Bank: +7%
- Adani Ports: +4%
- Tata Motors: +4.4%
- Larsen & Toubro (L&T): +4.25%
- Axis Bank: +4%
Similarly, 47 out of 50 Nifty stocks were trading positively, signaling broad-based market strength.
Realty and Auto Sectors Drive Gains in NSE Sectoral Indices
Among NSE’s sectoral indices, realty and auto stocks posted the highest gains:
- Realty: +4.25%
- Auto: +3.33%
- Financial Services: +3.01%
- Private Banking: +2.75%
- Metals: +2.47%
The strong rally was largely driven by investor optimism and selective buying across high-growth sectors.
Global Market Trends Boost Domestic Sentiment
However, China’s Shanghai Composite dropped by 0.30% and Hong Kong’s Hang Seng slipped by 0.15%, indicating mixed sentiment across Asia.
FIIs Pull Out, But DIIs Step In With Strong Buying
On April 9, Foreign Institutional Investors (FIIs) offloaded shares worth ₹2,519.03 crore. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹3,759.27 crore, offering solid support to the rally.
Key Reasons Behind the Market Rally
1. Temporary Relief on US Reciprocal Tariffs
One of the primary reasons behind today’s market euphoria is the 90-day suspension of reciprocal tariffs announced by the U.S. President on April 9. This decision excluded China and provided a breather for global trade, boosting market sentiment worldwide.
Following the announcement, U.S. markets closed 12% higher. Asian markets mirrored the sentiment the next day, with rallies of up to 10%.
2. Hope for India-US Bilateral Trade Agreement
The tariff suspension has also reignited speculation of a potential India-US bilateral trade agreement. With China excluded from tariff relaxations, Indian exporters may gain a short-term competitive edge, particularly in manufacturing and technology-related exports.
Friday’s Market Performance Set the Tone
Friday, April 11, saw a strong closing as well, with the Sensex gaining 1,310 points (1.77%) to close at 75,157. The Nifty surged by 429 points, ending at 22,829.
Among Nifty 50 stocks, 46 registered gains. Sector-wise performance included:
- Metals: +4.09%
- Consumer Durables: +3.19%
- Pharma: +2.43%
- Oil & Gas: +2.20%
- Auto: +2.03%
