Mumbai, April 10: The Indian stock market experienced a significant surge on Friday, closing strongly as tensions in the Middle East eased. By the end of the trading session, the Sensex rose by 918.60 points, or 1.20%, reaching 77,550.25. The Nifty also saw an increase of 275.50 points, or 1.10%, closing at 24,050.60.
Auto stocks led the market rally, making the Nifty Auto index the top gainer with a 2.85% increase. Other sectors also performed well, with Nifty Realty rising by 2.08%, Nifty Financial Services by 2.06%, Nifty PSU Bank by 2.01%, Nifty Private Bank by 1.98%, Nifty Consumer Durables by 1.74%, and Nifty Consumption by 1.55%.
However, the Nifty IT index was the only one to close in the red, down by 1.91%.
Both mid-cap and small-cap stocks also saw gains alongside large-cap stocks. The Nifty Midcap 100 index rose by 865.20 points, or 1.52%, closing at 57,843.95, while the Nifty Smallcap 100 index increased by 274.10 points, or 1.65%, finishing at 16,840.10.
Among the gainers in the Sensex pack were Asian Paints, ICICI Bank, Mahindra & Mahindra, Indigo, SBI, Axis Bank, Bajaj Finance, Bajaj Finserv, Adani Ports, Trent, HDFC Bank, L&T, HUL, Power Grid, Titan, UltraTech Cement, Eternal, Maruti Suzuki, Kotak Mahindra Bank, Tata Steel, BEL, and NTPC. On the other hand, losers included Sun Pharma, Infosys, TCS, Tech Mahindra, and HCL Tech.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that the market opened with a gap up and traded within a range, successfully closing above 24,000. He added that the resistance level for Nifty is between 24,200 and 24,250. If this level is breached, Nifty could reach 24,400 and then 24,600 in the near term. In case of a decline, the support zone lies between 23,850 and 23,800.
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment