Raging Bulls: Sensex Surges Over 800 Points, Extends Rally To 6th Day; Why Is Market Rising? – News18
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Benchmark indices Sensex and Nifty surged for the sixth consecutive session on Monday; Key reasons behind the stock market rally today
Sensex Surges Over 800 Points, Nifty Above 23,550; Key Reasons Behind Market Rally today and latest stock market updates
Stock Market Today: Indian equity benchmark indices Sensex and Nifty surged for the sixth consecutive session on Monday, buoyed by gains in banking and IT stocks. Foreign capital inflows and bargain buying further strengthened investor sentiment.
At the day’s high, the BSE Sensex was up 807 points (1.05%), trading at 77,713, while the Nifty50 climbed 245 points (1.05%) to 23,595 at 10:55 am. The total market capitalization of all BSE-listed companies soared by Rs 4.63 lakh crore, reaching Rs 417.93 lakh crore.
Foreign Investors Shift Stance
Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investment Services, noted a shift in Foreign Institutional Investors’ (FIIs) approach due to improving economic conditions and fair stock valuations.
“The strengthening Indian macroeconomy and reasonable valuations have turned FIIs from sellers into buyers, triggering massive short covering and sharp price surges,” he said.
However, he urged caution, citing uncertainty around April 2, the “reciprocal tariffs” day, which could impact investor sentiment.
FIIs, after heavy selling, turned buyers on some occasions last week, including a significant Rs 3,255 crore purchase on March 21. Despite this, FIIs have offloaded stocks worth Rs 31,718 crore in March (up to the 21st) while investing Rs 10,955 crore in debt markets during the same period.
India Outperforms Global Markets
Indian equities have outpaced US markets, with emerging markets—especially India—attracting increased attention, said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.
“Uncertainty in the US regarding growth and potential trade conflicts has shifted focus to emerging markets, where India has benefitted,” Bathini said.
Following a recent correction, Nifty rebounded from 22,000 levels, signaling resilience. “If Nifty sustains above 23,000, the Indian market is expected to perform well in the short-to-medium term,” he added.
Strong Economic Indicators Fuel Optimism
The bullish trend in Indian equities is underpinned by strong economic fundamentals.
“India’s macroeconomic indicators are improving, with robust tax revenues. The market has shown strength at the 23,000 level,” Bathini explained.
Looking ahead, upcoming Q4 earnings will be a key driver. “Corporate earnings will play a crucial role in sustaining the market above the 23,000 level,” he said.
While domestic factors remain positive, Bathini also cautioned about external risks, including the Trump-era trade war policies and geopolitical tensions, which could influence market movements.
