New Delhi, 10 April (H.S.):

Indian equity markets closed on a strong note on Friday, shrugging off a sharp correction seen the previous session and delivering a mids‑morning to upper‑day rally across indices. The Sensex surged as much as 990 points intra‑day, while the Nifty added up to 298 points in the session, with bulls regaining control after a bout of profit‑taking‑led volatility early in the day.

Market participants attributed the uptrend to expectations of peace talks in West Asia, positive global cues, and sustained buying in financial and select sectoral stocks.

The Sensex concluded the day 918.60 points, or 1.20%, higher at 77,550.25, while the Nifty finished 275.50 points, or 1.16%, stronger at 24,050.60. The day opened in a robust fashion, with the Sensex opening at 77,121.01, 489.36 points above Thursday’s close, but slipped temporarily by about 270 points on intraday selling pressure before recovering sharply as fresh buying emerged.

Similarly, the Nifty opened at 23,880.55, about 105.45 points above the previous close, briefly dipped below 23,860 on profit‑booking, and then climbed back to reach an intraday peak near 24,074.05—up 298.95 points before settling at 24,050.60 after a mild end‑session correction.

Sectoral Highlights: Broad‑Based Gains, Tech Under Pressure

Buying interest was concentrated in automobiles, capital goods, consumer durables, banking, realty, FMCG, healthcare, metals, oil & gas, and public sector enterprises, all of which ended the day in the green. Mid‑cap and small‑cap indices also outperformed, with the Nifty Midcap index closing 1.52% higher and the Smallcap index up 1.65%, reflecting risk‑on sentiment across the breadth.

However, the technology space faced selling pressure. The Nifty IT index declined 1.91%, while the BSE tech index slipped 1.10%, underscoring the contrast between defensive‑growth and cyclical themes on the Street.

Massive Wealth Creation for Investors

The strong rally translated into significant wealth accumulation. The combined market capitalisation of BSE‑listed companies rose to around ₹451.23 lakh crore (provisional) from ₹444.72 lakh crore the previous day, implying an increase of roughly ₹6.51 lakh crore in investor wealth in a single session.

On the BSE, 3,362 of the 4,449 actively traded stocks ended higher, 944 closed lower, and 143 saw no net change. At the NSE, 2,479 of 2,970 traded scrips advanced, while 491 declined, reinforcing the broad‑based nature of the uptrend. Among benchmark constituents, 25 of the 30 Sensex stocks and 42 of the 50 Nifty stocks settled in the positive zone.

Top Movers and Sector Champions

Among large‑caps, Asian Paints (+4.01%), Ashok Leyland (+3.87%), ICICI Bank (+3.17%), Shriram Finance (+3.14%), and Bajaj Auto (+3.12%) featured in the top‑five gainers, helped by sector‑specific demand and earnings‑linked confidence. On the flip side, Coal India (‑4.40%), Sun Pharmaceutical (‑3.62%), Infosys (‑2.94%), TCS (‑2.50%), and Tech Mahindra (‑1.46%) emerged as the major laggards, reflecting the profit‑booking trend in select blue‑chips and the IT‑specific selloff.

Market analysts said the day’s action showed that domestic sentiment remained resilient despite overnight volatility, with investors gravitating toward quality names and economically sensitive sectors. The gains also underscored how quickly equity markets can repair losses when macros and global cues tilt in favour of risk‑on positioning, offering a timely reminder of both the opportunities and risks in India’s dynamic stock market.

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Hindusthan Samachar / Jun Sarkar