Sensex jumps 1,000 points; investors earn ₹8 lakh crore— 10 key highlights of Indian stock market today

Stock market today: The Indian stock market witnessed a relief rally on Tuesday, April 8 — a trend seen across major markets globally after the recent drubbing — even though market sentiment remains fragile amid prevailing uncertainty over the direction of the ongoing trade war.

Many countries are negotiating with the US administration after President Donald Trump announced sweeping tariffs against them on April 2. Japan and the European Union have indicated they are willing to avert a trade war with the US.

Hopes of a trade deal boosted market sentiment in Asia and Europe. Japan's Nikkei closed with a solid gain of 5.68 per cent, and in Europe, FTSE, CAC, and DAX traded with gains of about a per cent each when the Sensex closed.

Indian stock market benchmark Sensex snapped its three-day losing streak to end with a significant gain of 1,089 points, or 1.49 per cent, at 74,227. The NSE counterpart, Nifty 50, settled 374 points, or 1.69 per cent, higher at 22,536.

The broader segment of the market outperformed. The BSE Midcap rose 1.87 per cent while the Smallcap index jumped 2.18 per cent.

Investors got richer by about ₹8 lakh crore in a single session as the overall market capitalisation of firms listed on the BSE rose to nearly ₹397 lakh crore from ₹389 lakh crore in the previous session.

Stock market today: 10 key highlights

Here are 10 key highlights of the Indian share market today:

1. Why did the Indian stock market rise today?

The domestic market witnessed gains amid positive global cues, driven by hopes that a major global trade war may be averted and most nations would strike a deal with the Trump administration.

“Positive global market cues aided the massive recovery in local benchmarks, as concerns over US trade tariffs faded a bit on hopes that most of the nations would work out ways to overcome the challenge. With India largely being a consumption-led economy, the US tariff impact may not hurt the country in a major way compared to some of the other nations,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Investors are also focused on the monetary policy decision due Wednesday. The Reserve Bank of India is expected to cut rates by another 25 bps.

2. Top Nifty 50 gainers today

As many as 49 stocks ended in the green in the Nifty 50 index, among which Jio Financial Services (up 5.61 per cent), Shriram Finance (up 5.21 per cent) and Bharat Electronics (up 3.69 per cent) ended as the top gainers.

3. Only one Nifty stock ends in the red

Power Grid Corporation of India (down 0.09 per cent) was the only Nifty member that ended in the red on Tuesday.

4. Sectoral indices today

All sectoral indices ended with gains, with Nifty Media (up 4.72 per cent), PSU Bank (up 2.64 per cent), Consumer Durables (up 2.59 per cent), Realty (up 2.47 per cent) and Oil & Gas (up 2.20 per cent) jumping 2-5 per cent.

Nifty Bank closed 1.31 per cent higher, while the Financial Services index jumped 1.64 per cent.

5. Most active stocks in terms of volume

According to NSE data, Vodafone Idea (62.59 crore shares), YES Bank (8.2 crore shares), and Tata Steel (6.9 crore shares) were the most active stocks in terms of volume.

6. 52 stocks hit 52-week highs

IndiGo, Atal Realtech and GRM Overseas were among the 52 stocks that hit their 52-week highs in intraday trade on the BSE.

7. 54 stocks hit 52-week lows in a positive market

Some 54 stocks, including Jai Corp, Orchid Pharma and LG Balakrishnan & Bros, hit their 52-week lows in intraday trade on the BSE.

8. 124 stocks hit upper price bands on the NSE

Shares of Godfrey Phillips India, Garware Hi-Tech Films and Parsvnath Developers were among the 124 stocks that hit their upper price band during the session on NSE.

9. Advance-decline ratio

According to provisional data, 2,391 stocks advanced on the NSE on Tuesday, while 499 declined and 67 remained unchanged.

10. Nifty 50 outlook

According to Shrikant Chouhan, the head of equity research at Kotak Securities, 22,330 would be a key level to watch.

Chouhan said that above this level, a pullback wave could move up to 22,700, with further upside, potentially lifting the index to 22,800. Conversely, a dismissal of 22,330 could accelerate selling pressure.

"If this level is breached, the market could retest 22,110-22,000. The current market texture is extremely volatile and uncertain; thus, a level-based trading strategy would be ideal for day traders," said Chouhan.

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