Sensex and Nifty today: The Indian stock market witnessed a surge of over 1.5% in key indices Sensex and Nifty, driven by gains in the banking, energy, FMCG, auto, and technology sectors. This turnaround was propelled by a remarkable swing in the key indices of the U.S. market this week from the lows, leading to a positive impact on the global markets, including all European and Asian markets.
In major Asian markets, Japan’s benchmark index, the Nikkei 225, saw an increase of over 0.9%, while the SSE Composite Index in Shanghai and the Hang Seng Index in Hong Kong were up by around 0.4% and 0.45%, respectively. Additionally, Taiwan and KOSPI gained 0.12% and 0.97%, respectively.
The positive impact of the global markets is evident in the Indian stock market today. The surge in the key indices Sensex and Nifty is indicative of a bullish trend in the market. The banking, energy, FMCG, auto, and technology sectors have significantly contributed to this surge, and investors can expect a positive outlook for the Indian stock market in the near future.
Today’s top gainers in the Nifty 50
- Reliance Industries Ltd – up 4.31%
- Nestle India Ltd – up 3.42%
- Infosys Ltd – up 3.21%
- ICICI Bank Ltd – up 3.08%
- Tata Motors Ltd – up 2.83%
- Tata Consultancy Services Ltd – up 2.13%
- Tech Mahindra Ltd – up 1.92%
- Axis Bank Ltd – up 1.89%
- Hero MotoCorp Ltd – up 1.87%
- Wipro Ltd – no percentage change given
Sensex and Nifty Movement of the Day
The Indian stock market witnessed an impressive rally today, with multiple indices showing positive gains. The BSE Sensex surged by a remarkable 1.78% or 1,031.43 points. This impressive surge was mainly propelled by the energy, FMCG, banking, auto, and IT sectors.
Similarly, the Nifty 50 index exhibited a bullish trend, gaining 1.63%, or 279.05 points. It closed at an impressive level of 17,359,775. Notably, the Nifty Bank index also saw remarkable gains of 1.75%, or 698.50 points, closing at 40,608.65.
The global markets played a significant role in boosting investor sentiment in the Indian stock market because the global markets had been performing well for the last few days. Furthermore, the falling US dollar index and 10-year bond yield boosted investor confidence. It leads to an increased buying spree in the market today.
The benchmark indices, which displayed significant gains today, were primarily driven by a strong performance from Reliance, ICICI Bank, Infosys, TCS, and Axis Bank.
Today’s remarkable surge was a result of broad-based contributions to the indices. It helped them close above the key resistance zone. It marked a new beginning in the April F&O expiry and a resurgence in the global markets. Other Indian mid- and small-cap indices also displayed over 1% momentum today. But, it was interesting to note that the Nifty 50 outperformed the mid and small-cap indices.
If this trend persists until next week, bullish traders will see a strong opening in April. By close, we witnessed a dazzling session today across all sectors, in line with the anticipation on the first day of the April 2023 expiry.
Conclusion
The Indian stock market saw an impressive performance today, with large-cap stocks outperforming mid and small-caps. However, for a sustainable bullish trend, we need to see a giant rally in those stocks to restore trader confidence in the upcoming month of April.
Despite this, there was some positive news as the weekly closing of both the Nifty and the BankNifty was impressive, indicating a potential for strong performance in the next week. The investors also breathed a sigh of relief as the Nifty managed to close above the previous hurdle of 17200-17250.
