Sensex, Nifty rebound as investor wealth jumps Rs 6.9 lakh crore

Indian equity benchmarks recovered in Tuesday's trade after experiencing carnage in the previous session due to a global selloff over further trade war escalation worries. Domestic equities climbed led by gains across all sectoral indices. Last checked, the 30-share BSE Sensex was up 1,201 points or 1.65 per cent at 74,339, while the broader NSE Nifty moved 380 points or 1.71 per cent up to trade at 22,540. Mid- and small-cap shares were also trading higher as Nifty Midcap 100 rose 1.93 per cent and small-cap gained 2.14 per cent.

Such was the rise in the domestic bourses that nearly Rs 6.9 lakh crore of BSE market capitalisation (m-cap) was generated. Buying interest in select heavyweights such as HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, SBI, Larsen & Toubro (L&T) and Axis Bank lifted the indices higher.

Here's a look at today's market rise in numbers:

Investor wealth jumps Rs 6.9 lakh crore

Investor wealth, as suggested by the BSE m-cap, rose Rs 6.85 lakh crore to Rs 396.11 lakh crore today compared with a valuation of Rs 389.25 lakh crore recorded during the previous session.

13 stocks hit 52-week high levels on BSE

As many as 13 stocks hit their 52-week high levels today. Some lesser-heard names like Desco Infratech Ltd, GRM Overseas Ltd, India Shelter Finance Corporation Ltd and NACL Industries Ltd hit their respective one-year high levels. That said, 27 stocks touched their respective one-year lows today.

Asian market

Asian shares regained some strength post-Monday's bloodbath even as US President Donald Trump threatened to impose an additional 50 per cent tariff on China if the reciprocal measures by Beijing are not removed immediately. China, on the other hand, vowed to fight "till the end", signalling that tariff war is set to intensify between the world's two largest economies.

FII-DII data

Back home, foreign institutional investors (FIIs) pulled out shares worth Rs 9,040.01 crore on a net basis during the previous session, while domestic institutional investors (DIIs) purchased shares worth Rs 12,122.45 crore, according to stock exchange data.

Trump's aggressive tariff stance is triggering fears of a full-blown trade war. Until tensions cool, Nifty may face continued pressure. Traders are watching for the RBI's potential 25 basis points (bps) rate cut on April 9 and corporate earnings led by TCS on April 10," said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd.

BSE market breadth

The overall market breadth was positive as 2,618 shares were advancing while 410 were declining on BSE. 104 remained unchanged.

Nifty outlook

"Key support for Nifty lies at 21,281. Meanwhile, bearish bets are on stocks like Adani Enterprises, Oberoi Realty and M&M, with Adani seen slipping from overbought zone," Tapse from Mehta Equities said.