The Indian equity market closed higher on Thursday, buoyed by gains in financial and information technology stocks, as market participants welcomed a U.S. trade court ruling that blocked the bulk of former President Donald Trump's proposed "Liberation Day" import tariffs.
The BSE Sensex gained 320.70 points, or 0.39%, to close at 81,633.02, while the NSE Nifty added 81.15 points, or 0.33%, to settle at 24,833.60.
Here's how analysts read the market pulse:
Global sentiment improved after a U.S. court struck down Trump’s reciprocal tax policy, said Vinod Nair, Head of Research, Geojit Investments, adding that "however, the domestic market remained mostly rangebound during the day due to rising oil prices and higher U.S. 10-year bond yields."
"Some recovery was seen toward the end of the session, driven by F&O expiry led covering. Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation," said Nair.
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US markets
The S&P 500 and the Nasdaq rose on Thursday, boosted by Nvidia after the AI-chipmaker posted strong revenue growth, while investors also assessed a federal court ruling that blocked most of U.S. President Donald Trump's tariffs.
Nvidia added 4.8% after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of U.S. export restrictions on China.
The company, however, warned that the new curbs are expected to cut $8 billion from its current-quarter sales.
The ruling raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already tired of high inflation. Trump has said he wants to bring manufacturing jobs back to the United States, and he warned the process could cause some pain for U.S. households.
European stocks
European shares eased on Thursday as initial relief that a U.S. trade court had blocked some of President Donald Trump's tariffs fizzled out.
The continent-wide STOXX 600 index closed 0.2% lower.
The Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from U.S. trade partners on April 2.
Tech View
The Nifty witnessed a volatile session on the day of monthly expiry, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the momentum continues to remain weak, with the RSI still pointing downward and the next crucial support is at 24,670.
“If the index falls below this level, a sharp correction may occur, potentially dragging the index down to 24,400/ 24,300. On the other hand, if Nifty holds above 24,670, it could witness a smart recovery towards 25,000 or 25,150 in the short term," said De.
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Most active stocks in terms of turnover
HDFC Bank (Rs 2,778 crore), ICICI Bank (Rs 2,258 crore), Waaree Energies (Rs 1,953 crore), Reliance Industries Ltd (Rs 1,948 crore), GRSE (Rs 1,785 crore), Welspun Corp (Rs 1,695 crore) and Mazagon Dock Shipbuilders (Rs 1,587 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 34.31 crore), MMTC (Traded shares: 20.17 crore), IFCI (Traded shares: 15.06 crore), Reliance Power (Traded shares: 14.94 crore), Suzlon Energy (Traded shares: 10.60 crore), Sagility India (Traded shares: 10.56 crore), and YES Bank (Traded shares: 7.65 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of MMTC, Welspun Corp, Waaree Energies, ITI Ltd, GRSE, Cummins India and Asahi India Glass were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 92 stocks hit their 52 week highs today while 29 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Coromandel International, Raymond Lifestyle, Olectra Greentech, JSW Holdings, Suven Pharma, Schneider and NTPC Green Energy.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,111 stocks that traded on the BSE on Thursday, 1,957 stocks witnessed declines, 2,020 saw advances, while 134 stocks remained unchanged.
Also read | Which companies have large exposure to Pakistan bordering states? CLSA analyses retaliation risk
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The BSE Sensex gained 320.70 points, or 0.39%, to close at 81,633.02, while the NSE Nifty added 81.15 points, or 0.33%, to settle at 24,833.60.
Here's how analysts read the market pulse:
Global sentiment improved after a U.S. court struck down Trump’s reciprocal tax policy, said Vinod Nair, Head of Research, Geojit Investments, adding that "however, the domestic market remained mostly rangebound during the day due to rising oil prices and higher U.S. 10-year bond yields."
"Some recovery was seen toward the end of the session, driven by F&O expiry led covering. Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
The S&P 500 and the Nasdaq rose on Thursday, boosted by Nvidia after the AI-chipmaker posted strong revenue growth, while investors also assessed a federal court ruling that blocked most of U.S. President Donald Trump's tariffs.
Nvidia added 4.8% after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips ahead of U.S. export restrictions on China.
The company, however, warned that the new curbs are expected to cut $8 billion from its current-quarter sales.
The ruling raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already tired of high inflation. Trump has said he wants to bring manufacturing jobs back to the United States, and he warned the process could cause some pain for U.S. households.
European stocks
European shares eased on Thursday as initial relief that a U.S. trade court had blocked some of President Donald Trump's tariffs fizzled out.
The continent-wide STOXX 600 index closed 0.2% lower.
The Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from U.S. trade partners on April 2.
Tech View
The Nifty witnessed a volatile session on the day of monthly expiry, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the momentum continues to remain weak, with the RSI still pointing downward and the next crucial support is at 24,670.
“If the index falls below this level, a sharp correction may occur, potentially dragging the index down to 24,400/ 24,300. On the other hand, if Nifty holds above 24,670, it could witness a smart recovery towards 25,000 or 25,150 in the short term," said De.
Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight
Most active stocks in terms of turnover
HDFC Bank (Rs 2,778 crore), ICICI Bank (Rs 2,258 crore), Waaree Energies (Rs 1,953 crore), Reliance Industries Ltd (Rs 1,948 crore), GRSE (Rs 1,785 crore), Welspun Corp (Rs 1,695 crore) and Mazagon Dock Shipbuilders (Rs 1,587 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 34.31 crore), MMTC (Traded shares: 20.17 crore), IFCI (Traded shares: 15.06 crore), Reliance Power (Traded shares: 14.94 crore), Suzlon Energy (Traded shares: 10.60 crore), Sagility India (Traded shares: 10.56 crore), and YES Bank (Traded shares: 7.65 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of MMTC, Welspun Corp, Waaree Energies, ITI Ltd, GRSE, Cummins India and Asahi India Glass were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 92 stocks hit their 52 week highs today while 29 stocks slipped to their 52-week lows.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Coromandel International, Raymond Lifestyle, Olectra Greentech, JSW Holdings, Suven Pharma, Schneider and NTPC Green Energy.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,111 stocks that traded on the BSE on Thursday, 1,957 stocks witnessed declines, 2,020 saw advances, while 134 stocks remained unchanged.
Also read | Which companies have large exposure to Pakistan bordering states? CLSA analyses retaliation risk
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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