Sensex jumps 1,400 Points, Nifty surpasses 22,800: What’s fueling the market rise?

Indian benchmark indices Sensex and Nifty witnessed a relief rally in April 11 morning, rising more than 1.5% higher following US President's revelation of a 90-day halt of tit-for-tat tariffs to all countries except China. The development has ushered in a sense of optimism into the markets with market participants hopeful of benefits through easing trade tensions.

Market Gains

• Sensex: Soared 1,139.47 points or 1.54% to 74,986.62, led by sharp gains in major sectors like pharma, IT, and auto.
• Nifty: Increased by 369.90 points or 1.65% to trade at 22,769.05, with a widespread rally across sectors.

Sectoral Gains

• Nifty Pharma: Increased by 2.5%, led by sharp gains in stocks like Sun Pharma and Cipla.
•  Nifty IT: Increased by 2.2%, led by the gains of companies like TCS and Infosys.
•  Nifty Auto: Increased by 2.1%, led by robust gains in companies like Tata Motors and Maruti Suzuki.
•  Nifty Midcap 100: Increased by 1.5%, led by the gains of companies like L&T and HDFC Bank.
•  Nifty Smallcap 100: Increased by 1.2%, led by the gains of companies like M&M and Bajaj Finance.

Expert Views

• VK Vijayakumar, Chief Investment Strategist, Geojit Investments: "The recent US suspension of tariffs is a welcome development, but investors should still be cautious and value safety over returns. Indian economy is stable, but global uncertainties can affect markets."
•  Devarsh Vakil, HDFC Securities Head of Prime Research: "Nifty is likely to hit the 23,100-23,300 zone in the short term on the back of positive sentiment. Support is visible around 22,400, and investors need to be ready for corrections."

Market Outlook

Indian markets are likely to be volatile in the near term, influenced by global uncertainties and trade tensions. Nevertheless, the recent US suspension of tariffs is a welcome development, and investors can expect possible benefits in the long term.