Market Wrap, April 11: Bulls roar on D-Street; NIFTY50 jumps 2%, SENSEX ends above 75,000; metal, pharma shares climb

The Indian stock market on Friday, April 11, ended the session and the week on a positive note as investor sentiment was boosted following the suspension of additional tariffs of 26% for 90 days by the US.

At close, the S&P BSE SENSEX stood at 75,157.26, jumping 1,310.11 points, or 1.77%, while the NSE's NIFTY50 index settled at 22,828.55, soaring 429.40 points, or 1.92%.

Over the last five trading sessions, the 50-share index has tumbled 1.07% while SENSEX lost 0.66%.

During the intraday period, NIFTY50 and SENSEX touched highs of 22,923.90 and 75,467.33 levels, respectively.

The market breadth remained in favour of bulls, with 2,381 stocks advancing out of 2,959 traded on the National Stock Exchange.

The small-cap index on Friday outperformed the main indices, gaining nearly 3%. The midcap index saw a positive session.

Among sectors, metal consumer durables and pharma soared the most on Friday.

According to exchange data, the foreign institutional investors (FIIs) offloaded equities worth ₹4,358.02 crore on a net basis on Wednesday.

The Indian stock market was closed on Thursday on the occasion of Mahavir Jayanti.

Globally, the US markets tumbled after the White House clarified that Chinese goods would face 145% tariffs, including the previous ones. All the US indices closed in red following this.

The Dow Jones Industrial Average closed 1,014 points, or 2.5%, lower at the 39,593.66 level; the Nasdaq Composite is settled 4.31% at 16,387.31. The S&P 500 ended 3.46% down at 5,268.05, a day after surging a historic 9.5%.

The Asian stocks closed mixed on Friday, with Japan's Nikkei tumbling 3.05% to 33,585.58, while South Korea’s Kospi fell nearly 0.51% to 2,432.72.

Hong Kong’s Hang Seng index rose 1.11% to the 20,914.69 level as China increased tariffs on US goods to 125% from April 12. The Shanghai Composite also settled 0.45% higher at 3,238.23.

In the last five trading sessions, Nifty Consumer Durables, FMCG and Oil and Gas were the top gainers, surging 3.77%, 3.54% and 1.26%, respectively.

Nifty Realty (-3.99%), Metal (-2.92%) and IT (-2.29%) were the top losers during the week.

As many as 2,959 stocks traded on the NSE on Friday. Out of this, 2,381 advanced, and only 492 stocks declined, while 86 scrips remained unchanged.

A total of 35 stocks hit their 52-week highs, while 18 stocks touched their one-year lows. Besides, 160 stocks hit their upper circuit limits, and 23 touched their lower circuit bands on Friday.

NSE-listed firms market capitalisation stood at ₹399.41 lakh crore at the end of the session.

The volatility index India VIX declined 6.17% to 20.11 levels.

The broader market rallied on Friday, with the Nifty Midcap 100 index closing at the 50,501.50 level, climbing 1.85%, while the Nifty Smallcap 100 index zoomed 2.88% to the 15,696.10 level.

All the sectors settled with gains on Friday, with Nifty Metal (4.09%) taking the lead. Nifty Consumer Durables (3.19%), Nifty Pharma (2.43%), Nifty Oil and Gas (2.20%) and Nifty Auto (2.03%) were the other top gainers.

As many as 47 stocks advanced on the NIFTY50 index, and only 3 declined.

Hindalco, JSW Steel, Tata Steel, Coal India and Jio Financial Services were the most contributing stocks, jumping as much as 6.7%.

Asian Paints (-0.75%), Apollo Hospitals (-0.53%) and Tata Consultancy Services (0.26%) were the only losers on the index.