Bulls back on D-Street: Sensex rises 1,300 pts, Nifty above 22,800 mark  

Benchmark indices saw a stellar rally on Friday after US President Donald Trump paused reciprocal tariffs on 75 trading partners including India for 90 days. Sensex rose 1310 pts to 75,157 and Nifty gained 429.40 points to 22,828. 

Market cap of BSE-listed firms reclaimed the Rs 400 lakh crore mark on Friday with investor wealth rising to Rs 401.55 lakh crore.

Tata Steel, PowerGrid, NTPC, Kotal Mahidnra Bank, RIL, Adani Ports, Eternal and HCL Tech were the top Sensex gainers, rising up to 4.44%.
 

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities expects short-term trend of Nifty to remain positive. "Nifty is currently placed at the edge of the multiple hurdles like previous opening down gap of 7th April and daily 10 and 20 EMA around 22800-22900 levels. Nifty on the weekly chart formed a bullish meeting line type candle pattern. This is positive indication. The short-term trend of Nifty remains positive. A sustainable move above 22900-23000 levels could open the upside target of 23400-23500 levels in quick period of time. Immediate support is placed at 22700 levels," said Shetti.  

As many as 66 stocks hit their 52-week highs today. On the other hand, 41 shares touched their 52-week lows on BSE. 

Market breadth was positive. Of 4079 stocks traded, 3,115 stocks ended in the green. Around 846 stocks in the red while 118 stocks remained unchanged.

BSE smallcap index rallied 13752 pts or 3.04% to 45,798 and BSE midcap index zoomed 727 pts or 1.84% to 40,274 on Friday.

Prashanth Tapse, Senior VP (Research), Mehta Equities said, "Markets defied the bearish world equities sentiment to end sharply higher on the back of strong all-round buying. The Trump government's decision on not to impose any import tariffs on any nations for another 90-days provided a sigh of relief to investors that fuelled short covering. However, intra-day volatility with a negative bias is expected to make a comeback as China hitting back with 125% tariffs on US imports could trigger a sell-off going ahead."

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.