Market Wrap, April 8: Bulls take charge as NIFTY50 settles above 22,500 level, SENSEX soars 1,089 pts; Jio Fin shares up 5%

The Indian equity market on Tuesday, April 8, settled almost 1.5% higher, a day after witnessing one of its worst crashes. Market investors gained confidence following the optimism in the Asian markets.

At close, the S&P BSE SENSEX stood at 74,227.08, jumping 1,089.18 points, or 1.49%, while the NSE's NIFTY50 index settled at 22,535.85, soaring 374.24 points, or 1.69%.

The quick turnaround comes after US President Donald Trump said he may raise more tariffs against China after Beijing retaliated with new levies on US products.  

“…if China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL tariffs on China of 50%, effective April 9th,” US President Donald Trump had written on his social media account of Truth Social on Monday.

Both midcap and smallcap gauges gained over 2% on Tuesday, while all the sectoral indices settled in green.

The market breadth favoured bulls as 2,391 stocks advanced on the 50-share index out of 2,957 traded.

As many as 49 scrips listed on NIFTY50 ended the session in green, and only Power Grid shares closed 0.09% lower.

Globally, the US stocks witnessed a volatile session as investors digested changing headlines related to tariffs.

The Dow Jones Industrial Average fell 349.26 points, or 0.91%, to 37,965.60, and the S&P 500 declined 11.83 points, or 0.23%, to 5,062.25; however, the Nasdaq Composite rose 15.48 points, or 0.10%, to 15,603.26.

Following this, Asian shares and US futures advanced on Tuesday, with Tokyo’s Nikkei 225 settling 6% higher at 33,012.58.

The Hang Seng gained 1% to 20,036.03. The Shanghai Composite Index jumped 1.4% to 3,140.15. South Korea's Kospi picked up 0.3% to 2,334.23, while the S&P/ASX 200 in Australia climbed 2.3% to 7,510.00.

As many as 2,957 stocks traded on the NSE on Tuesday. Out of this, 2,391 advanced and only 499 stocks declined, while 67 scrips remained unchanged.

A total of 17 stocks hit their 52-week highs, while 22 stocks touched their one-year lows. Besides, 124 stocks hit their upper circuit limits, and 45 touched their lower circuit bands on Tuesday.

NSE-listed firms market capitalisation stood at ₹394.34 lakh crore at the end of the session.

A day after soaring nearly 66%, the volatility index India VIX declined 10.31% to 20.44 levels. 

After tanking almost 3% on Monday, the broader market saw a sharp recovery. The Nifty Midcap 100 index closed at the 49,838 level, climbing 2.11%, while the Nifty Smallcap 100 index zoomed 2.13% to the 15,389 level.

All the sectors settled with gains on Tuesday, with Nifty Media (4.72%) taking the lead. Nifty Financial Services Ex-Bank (3.34%), Nifty Midsmall Financial Services (3.03%), Nifty PSU Bank (2.64%) and Nifty Consumer Durables (2.59%) were the other top gainers.

As many as 49 stocks on the NIFTY50 index traded positively. The biggest gainers on the index were Jio Financial Services, Shriram Finance, Bharat Electronics, Adani Enterprises and Cipla, surging as much as 5.61%.

The fully digital Loan Against Securities (LAS) service will allow customers to get loans up to ₹1 crore in 10 minutes, leveraging their investments, such as shares and mutual funds.

The Navratna Defence PSU has signed a contract with the Ministry of Defence for supply of an indigenously developed Electronic Warfare (EW) Suite for the Mi-17 V5 helicopters. The suite, which includes a Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS), and Counter Measure Dispensing System (CMDS), has been designed by CASDIC, DRDO, and will be manufactured by Bharat Electronics, the company said in an exchange filing.

Titan Company registered around 25% year-on-year (YoY) growth in standalone revenue for the quarter and around 21% for the financial year. Titan's (consolidated) retail network grew by 72 stores (net) in the quarter to reach 3,312 stores.