Sensex opens over 1,000 points up amid heightened global uncertainty

Indian benchmark indices opened on a strong note Tuesday, buoyed by gains in heavyweights like Titan, Tata Steel, and Adani Ports, even as global uncertainties—including US tariffs—clouded investor sentiment.

As of 9:21 am, the Sensex surged 1,169 points or 1.60% to reach 74,307, while the Nifty climbed 375 points or 1.69% to 22,536, indicating broad-based buying across sectors.

Midcap and smallcap stocks also rallied, with the Nifty Midcap 100 index gaining 1,094 points (2.24%) to touch 49,903, and the Nifty Smallcap 100 index rising 356 points (1.75%) to 15,424.

Sectoral Indices All in Green

On the sectoral front, all major indices were trading higher, signaling widespread optimism. Leading the gains were PSU Banks, financial services, metals, realty, energy, infrastructure, and private banks.

Top Gainers and Laggards

Among Sensex constituents, Titan, Adani Ports, Tata Motors, Bajaj Finserv, SBI, Axis Bank, UltraTech Cement, Tata Steel, IndusInd Bank, Zomato, Bajaj Finance, and NTPC were the top performers. TCS stood out as the only stock trading in the red during early trade.

Global Uncertainty Persists

Despite Tuesday’s rally, market analysts caution that volatility and global uncertainty will continue in the near term.

“There are some significant takeaways from the ongoing chaos. One, the trade war is likely to be confined to the US and China. Others, including the EU and Japan, have opted for negotiations. India has already started negotiations on a BTA with the US. Two, the risk of a recession in the US has increased. Three, China is likely to be the worst-hit economy,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

He added that investors may stay in a wait-and-watch mode as markets search for clearer direction.

Global and Domestic Cues Ahead

Buying was also seen across major Asian markets, with Tokyo, Shanghai, Hong Kong, and Seoul trading in the green. In contrast, US markets closed in the red on Monday, weighed down by recession concerns.

In terms of institutional flows, Foreign Institutional Investors (FIIs) continued their selling spree, offloading equities worth ₹9,040 crore on April 7 — their sixth consecutive session as net sellers. Meanwhile, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth ₹12,122 crore.

Looking ahead, traders are closely monitoring the RBI’s policy meet, with expectations of a 25 basis points rate cut on April 9, and the start of corporate earnings season led by TCS on April 10, said Prashanth Tapse, Senior VP (Research), Mehta Equities.

(With IANS inputs)