Nifty near 22,400, Sensex jumps 750 points; all sectors in green, broader markets shine

#NiftySensexjumps

Mumbai: Indian markets opened with a sharp spurt in trade on April 8, leading Nifty 50 and Sensex to gallop over one percent as bulls took over the reins. However, during the first hour of trade, the benchmarks gave up a portion of their gains, as caution weighed.

At 10:20 am, the Sensex was up 751.50 points or 1.03 percent at 73,889.52, and the Nifty was up 255.10 points or 1.15 percent at 22,416.40. About 2534 shares advanced, 560 shares declined, and 115 shares unchanged.

The broader markets outperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 jumping 2.3 percent each. On the sectoral front, all sectors traded with sharp gains. The Nifty Realty, Metal, and IT indices led the charge, soaring up to three percent.

Experts had suggested that the bearish sentiment seen in trade yesterday was unlikely to persist. “We anticipate a significant improvement in market sentiment driven by opportunistic bargain hunting activities today,” said Devarsh Vakil, Head of Prime Research, HDFC Securities.

“Should the Nifty fall below 22,000, it may gradually drop to 21,700 levels. The strategy should be to reduce the weak long positions between 22,500 and 22,800 levels, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Investors may continue in wait and watch mode since it will take time for clarity to emerge. “However, since India’s macros are stable and we can grow at around 6 percent in FY26 and the valuations are fair particularly in largecaps, long-term investors can start nibbling at high quality largecaps like the leading financials. Since Trump is unlikely to impose tariffs on pharmaceuticals at this stage, pharma stocks, which are attractively priced now, appear to be good buys,” said V K Vijayakumar, Chief Investment Strategist, Geojit Investments.

Overnight, U.S. stocks briefly turned positive mid-morning following a report that the U.S. was considering delaying tariffs by 90 days. However, reports later surfaced that these claims weren’t factual, and U.S. equity markets responded by finishing lower, with the exception of the tech-heavy Nasdaq, which edged out a modest gain.

The Dow Jones fell 0.91 percent and the S&P 500 lost 0.23 percent, while the Nasdaq Composite gained ended flat, higher by 0.1 percent.

After closing lower over the past three session, US futures were trading in the green. Dow Jones futures soared 1.5 percent, jumping 750 points, while S&P 500 and Nasdaq futures rose 1.6 percent.

Asian markets rallied, as Japan’s Nikkei share average rose 6 percent on Tuesday in a widespread rally, rebounding from a 1-1/2-year low hit in the previous session. Hong Kong’s Hang Seng index and South Korea’s KOSPI also saw sharp gains. On the flip side, Taiwan’s benchmark index continued to languish in the red, after trading was halted in the previous session.

Shares of Titan surged 6.5 percent on April 8, following the company’s upbeat business update for the March quarter. In its fourth-quarter business update, Titan reported a 25 percent year-on-year increase in revenue across all its verticals.

Bharat Electronics (BEL) share price jumped four percent to break a two-day losing streak after the company received Rs 2,210 crore contract from Indian Air Force. “…. has signed a contract with Ministry of Defence valued at Rs 2,210 crore (excluding taxes) for supply of EW Suite for Mi 17 V5 Helicopters of Indian Air Force,” company said in its release.