Synopsis : The Indian stock market sees strong gains as Sensex rises by 500 points, reaching 76,500, while Nifty stands at 23,300. Investors remain watchful ahead of key global trade announcements and upcoming IPO listings.
Market Overview:
Indian equity markets are trading in the green as benchmark indices Sensex and Nifty50 show positive momentum on Wednesday. At 11 AM, the BSE Sensex surged by 519.65 points (0.68%) to reach 76,544.16, while the Nifty50 advanced by 144.20 points (0.62%) to trade at 23,309.90.
Broader market indices are exhibiting mixed trends, with Nifty Midcap 100 gaining 0.77% and Nifty Smallcap 100 rising 0.63%. The positive sentiment is largely driven by strong performances in financials, auto, and IT stocks.
Key Market Drivers:
US Tariff Announcement: Investors are closely monitoring the announcement of reciprocal tariffs by US President Donald Trump, expected to be revealed at the White House Rose Garden event at 4 PM on April 2.
FIIs and Global Cues: Market participants are keeping an eye on foreign institutional investors’ (FIIs) trading activity and global market trends for further direction.
Technical Analysis: A long bearish candle on daily charts suggests potential weakness, though support at 23,100/75,800 could trigger a pullback rally toward 23,300-23,350 for Nifty and 76,500-76,650 for Sensex.
Trading Strategy:
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, traders should focus on level-based strategies:
Support levels: Nifty at 23,100 and Sensex at 75,800.
Resistance levels: Nifty at 23,350 and Sensex at 76,650.
Breaching support may lead to further correction towards 23,000-22,950 for Nifty and 75,500-75,300 for Sensex.
IPO Market Action:
Several IPOs are in focus today:
Infonative Solutions IPO (BSE SME) and Spinaroo Commercial IPO (BSE SME) enter their third day of subscriptions.
Retaggio Industries IPO (BSE SME) closes its subscription window.
ATC Energies System IPO (NSE SME) and Shri Ahimsa Naturals IPO (NSE SME) debut on the stock exchanges.
Disclaimer : This article is for informational purposes only and should not be considered as financial advice. Investors are advised to conduct their own research before making any investment decisions.
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