Indian Markets Surge as Tensions Ease, Nifty Crosses 22,600, Sensex Rises 1,187 Points
Indian Equity Market Ends First Session of New Series on Strong Note
The Indian equity market snapped its two-day losing streak and ended the first session of the new series on a strong note on April 1, supported by signs of de-escalation in the ongoing tensions between the US and Iran. The market kicked off the new financial year on a positive footing, with the Nifty opening gap-up at 22,900 amid broad-based buying across sectors and the broader indices.
Despite intraday profit booking, the benchmarks managed to hold gains and closed on a robust note. At close, the Sensex was up 1,186.77 points or 1.65 percent at 73,134.32, and the Nifty was up 348 points or 1.56 percent at 22,679.40.
| Index | Change | Percentage Change |
|---|---|---|
| Sensex | 1,186.77 | 1.65% |
| Nifty | 348 | 1.56% |
| Nifty Midcap | 2.2% | |
| Nifty Smallcap | 3.3% |
The market capitalisation of BSE-listed companies surged by nearly ₹10 lakh crore to ₹422.23 lakh crore, up from ₹412.41 lakh crore recorded on Monday. Broader markets outperformed the main indices, with the Nifty Midcap index adding 2.2 percent and the smallcap index rising 3.3 percent.
Several companies witnessed significant gains, including Interglobe Aviation, Adani Ports, Adani Enterprises, Trent, and Bharat Electronics. On the other hand, Dr Reddy's Labs, HDFC Life, Cipla, NTPC, and Sun Pharma were among the losers.
| Sectoral Index | Change | Percentage Change |
|---|---|---|
| Defence | 5%+ | |
| Capital Goods | 3% | |
| Media | 3% | |
| PSU Bank | 3% | |
| Auto | 1-2% | |
| Consumer Durables | 1-2% | |
| IT | 1-2% | |
| Metal | 1-2% | |
| Realty | 1-2% | |
| FMCG | 1-2% | |
| Telecom | 1-2% | |
| Private Bank | 1-2% |
More than 200 stocks touched their 52-week low on the BSE, including Blue Star, HDFC Life, Cipla, Havells India, SBI Card, Blue Dart, and others. In stock-specific action, Marksans Pharma gained 7 percent after receiving USFDA approval for its Benzonatate Capsules. Texmaco Rail and Engineering surged 12 percent following an order win worth ₹357.11 crore, while RailTel Corporation of India also jumped 7 percent on securing orders valued at ₹29.69 crore.
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InterGlobe Aviation (IndiGo) shares rose 6 percent after the appointment of former Willie Walsh as its new CEO. Garden Reach Shipbuilders advanced 20 percent after reporting its highest-ever annual turnover, and Diamond Power Infrastructure added 5.6 percent on winning an order to supply 66 kV EHV cables.
Pace Digitek rallied 10 percent after bagging an order worth ₹494.5 crore from NTPC, while Zaggle Prepaid Ocean Services climbed 16 percent after projecting around 40 percent growth for FY27. Meanwhile, Coforge gained 3.7 percent following approval from the Reserve Bank of India for its overseas direct investment.
Looking ahead, the immediate support for Nifty is placed in the 22550-22500 zone. Any sustainable move below this zone could result in Nifty extending its weakness towards 22300, followed by 22100 in the short term. On the upside, the zone of 22800-22850 is likely to act as an immediate resistance.
Investor Takeaway
Investors should remain cautious and keep an eye on global tensions.
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