Sensex, Nifty: Investor wealth reclaims Rs 400-lakh crore mark amid 90-day pause on Trump tariffs

Investor wealth reclaimed the Rs 400 lakh crore mark on Friday as Sensex and Nifty rebounded after US President  Donald Trump paused reciprocal tariffs on 75 trading partners including India for 90 days. BSE's market capitalisation rose by Rs 6 lakh crore to Rs 401.03 lakh crore in early deals amid a stellar rally in the stock market. 

Sensex rose 1221 pts to 75,068 and Nifty gained 398 points to 22797. Tata Steel, Tata Motors, Bajaj FinServ, Eternal and HCL Tech were the top Sensex gainers, rising up to 4.44%.

Commenting on today's rally, VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, "The gap up opening in the Nifty this morning is unlikely to sustain beyond a point given the elevated uncertainty in global markets. President Trump’s retreat from the reciprocal tariffs imposed on countries except China, was forced by the US bond market where instead of safe-haven buying in US  treasuries, there was big selling, pushing the 10-year bond yield up to 4.5%. In brief, bond vigilantes forced Donald Trump to retreat. The 10-year yield is even now at around 4.46%. The dollar index has fallen to 100.
 
There is no room for a sustained rally in the market in the present uncertain context. But investors can take relief from the fact that Indian macros are good and we are one of the least impacted countries in this trade war. Investors have to be cautious and should prioritise safety over returns. Safety now is in fairly valued largecaps."

As many as 43 stocks hit their 52-week highs today. On the other hand, 22 shares touched their 52-week lows on BSE. 

Market breadth was positive. Of 3672 stocks traded, 2888 stocks were trading in the green. Around 586 stocks were trading in the red while 198 stocks remained unchanged.

Devarsh Vakil, Head of Prime Research, HDFC Securities said, "Markets will discount two days of global economic developments and market movements at the opening today. Nifty's immediate support is seen at 22400, while the 23100-23300 band is expected to act as a resistance zone."

 

FII-DII data

Foreign institutional investors sold Rs 4358 crore worth of equities on a net basis on Wednesday, while domestic investors bought Rs 2976 crore of shares, as per provisional NSE data.

Previous session 

Sensex was down 379.93 points or 0.51 percent at 73,847.15, and the Nifty fell 136.70 points or 0.61 percent at 22,399.15 on April 9.