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A broad-based relief rally lifted Indian benchmark indices on the morning of April 11, with the Sensex and Nifty surging over 1.5% at the open
Stock Market Today
Why Is Share Market Rising Today? A broad-based relief rally lifted Indian benchmark indices on the morning of April 11, with the Sensex and Nifty surging over 1.5% at the open. The sharp upswing came after the US President announced a 90-day pause in reciprocal tariffs for most nations, excluding China. Indian markets defied weak global cues, where sentiment remained cautious amid ongoing trade tensions and concerns over a potential global economic slowdown.
At the day’s peak, the BSE Sensex rallied 1,472.2 points, or 1.99%, to hit an intraday high of 75,319.35, while the Nifty 50 jumped 475.3 points, or 2.12%, reaching 22,874.45 during Friday’s trade.
Meanwhile, the market capitalisation of all listed companies on the BSE surged by Rs 6.97 lakh crore to Rs 400.79 lakh crore.
Key Reasons For The Stock Market Rally On April 11
Investors Cheer 90-Day Tariff Suspension
Investor sentiment was buoyed by news that the US has suspended additional tariffs on Indian exports for 90 days, effective until July 9, as per a White House executive order. This marks a temporary reversal of earlier measures from April 2, when President Donald Trump imposed widespread duties on goods from nearly 60 countries, including India. The now-paused tariffs were expected to impact a range of exports from shrimp to steel, sparking trade concerns across global markets.
Pharma, Metal Stocks Rise
On the sectoral front, the Nifty Pharma and Metal indices jumped over 3%, while Nifty Auto and Healthcare gained more than 2%. Nifty Financial Services, IT, PSU Bank, Realty, Consumer Durables, and Oil & Gas also opened 1–2% higher.
Despite the early gains, analysts cautioned that the damage from the U.S. tariff move may not be reversed quickly, and overnight losses on Wall Street could limit further upside for Indian equities.
Nifty Technicals
Hardik Matalia, Derivative Analyst at Choice Broking, said, “After a positive opening, the Nifty may find support at 22,300, followed by 22,200 and 22,000. On the higher side, 22,550 could act as immediate resistance, followed by 22,750 and 23,000.”
Will The Rally Sustain And What Should Investors Do?
VK Vijayakumar, Chief Investment Strategist, Geojit Investments expects this gap up opening in the Nifty this morning to sustain beyond a point given the elevated uncertainty in global markets.
“There is no room for a sustained rally in the market in the present uncertain context. But investors can take relief from the fact that Indian macros are good and we are one of the least impacted countries in this trade war. Investors have to be cautious and should prioritise safety over returns. Safety now is in fairly valued largecaps,” he noted.
