Mumbai, April 7: The Indian stock market closed in the green on Tuesday, marking its fourth consecutive day of gains. By the end of the trading session, the Sensex surged by 509.73 points, or 0.69%, reaching 74,616.58, while the Nifty climbed by 155.40 points, or 0.68%, to settle at 23,123.65.
The rally was primarily driven by IT stocks, with the Nifty IT index emerging as the top gainer, up by 2.5%. Other sectors, including Nifty Realty, Nifty Metal, Nifty Defense, Nifty FMCG, Nifty Services, Nifty Commodities, Nifty PSU, Nifty Energy, and Nifty Private Bank, also closed higher. However, Nifty Consumer Durables and Nifty PSU Bank ended in the red.
Among the top gainers in the Sensex pack were HCL Tech, TCS, Infosys, Bharti Airtel, Sun Pharma, Tech Mahindra, HUL, ITC, ICICI Bank, Maruti Suzuki, Tata Steel, NTPC, Bajaj Finserv, Kotak Mahindra Bank, and Bajaj Finance. In contrast, Indigo, M&M, Titan, Trent, SBI, Ultratech Cement, L&T, and Eternal were among the notable losers.
Midcap and small-cap stocks had a mixed performance compared to large caps. The Nifty Midcap 100 index closed up by 107.90 points, or 0.20%, at 54,600.55, while the Nifty Smallcap 100 index fell by 9.75 points to 15,843.30.
SBI Securities’ Head of Fundamental Research, Sunny Agarwal, noted that the Indian stock market ended on a positive note after a volatile session. The Sensex recorded a gain of nearly 500 points, and the Nifty 50 managed to recover from significant intraday losses, closing above 23,100.
The market opened weak due to tensions between the US and Iran and high crude oil prices. However, strong buying in IT stocks led by Wipro, Infosys, and TCS, along with support from metal and real estate shares, facilitated a recovery.
Agarwal added that the upcoming decision from the RBI’s monetary policy committee and the deadline given by the US to Iran regarding the Strait of Hormuz, which expires at 5:30 AM IST, will play a crucial role in determining the market’s direction.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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