Indian equity benchmark indices rebound on Tuesday after the bloodbath in the previous session. After opening higher at 74,000 level, BSE Sensex traded 704.17 pts or 0.96 per cent positive at 73,842.07 as at 10.24 am. Nifty 50 gained 245.30 pts or 1.11 per cent to trade at 22,406.90. All sectoral indices traded in green, with consumer durables shining.
Nifty midcap 100 rose 1.52 per cent to 49,549.25 and Nifty smallcap 100 gained 1.78 per cent to 15,335.45 as at 10.34 am.
Shares of Shriram Finance, Titan, Grasim Industries, Bajaj Finserv, Bharat Electronics traded among top gainers of Nifty 50 components at the time of writing. Power Grid, Nestle India and SBI Life slipped.
Tata Motors soared 5 per cent in early trade before it traded 2 per cent positive at ₹592.45 as at 10.30 am.
BSE, Policy Bazaar, Nykaa, SBI Card, Bank of Maharashtra and Mazagon Dock stocks emerged as major gainers of the midcap 100 index.
Akshay Chinchalkar, Head of Research at Axis Securities said, “The Nifty suffered its biggest fall for the year yesterday, but the over 400 point recovery at close was encouraging for bulls. The rebound resulted in a bullish belt-hold line formation with the 22572-22685, the next upside hurdle area. On the downside, the 22015-22130 area is critical.”
According to market experts, the global markets may face heightened volatility amid a fresh threat by the US to impose additional 50 per cent tariff against China’s retaliatory 34 per cent import levies on US products.
The dramatic increase in volatility indicates significant uncertainty among investors. India VIX was down 10.90 per cent to 20.31, a day after spiking over 65 per cent.
On Monday, the Sensex crashed 2,226.79 points or 2.95 per cent to settle at 73,137.90. FIIs offloaded equities worth ₹9,040.01 crore on Monday, while domestic institutional investors bought shares worth ₹12,122.45 crore, according to exchange data.
Global oil benchmark Brent crude climbed 1.32 per cent to $65.06 a barrel.
More Like This
Published on April 8, 2025
