Indian equity markets traded sharply higher on April 10, tracking positive global cues and easing investor concerns around geopolitical tensions. The benchmark BSE Sensex surged over 700 points to 77,300 levels, while the Nifty 50 climbed 24,000 mark, gaining nearly 1% in early trade.
The rally was supported by gains across Asia-Pacific markets and optimism surrounding the fragile ceasefire developments between the United States and Iran. Investor sentiment remained cautiously positive as global markets showed resilience despite ongoing geopolitical uncertainties.
Top Gainers And Sectoral Trends
Stocks like Shriram Finance, Bajaj Finserv, Eicher Motors, and Axis Bank led the gains on the Nifty50 index.
Broader markets also outperformed, with midcap and smallcap indices rising over 1%, indicating strong participation beyond large-cap stocks.
Among sectors, financial services (excluding banks), PSU banks, and media stocks traded in the green, reflecting broad-based buying interest.
IT Stocks Under Pressure
The IT sector emerged as the only laggard, with the Tata Consultancy Services declining around 3% following its quarterly update. The weakness in IT stocks weighed on overall market momentum, limiting further upside.
Global Market Cues
Asian markets remained upbeat, with South Korea’s Kospi leading gains, followed by Japan’s Nikkei 225 and Hong Kong’s Hang Seng index.
Overnight, US markets also closed higher, with the S&P 500, Dow Jones, and Nasdaq registering modest gains as investors assessed the evolving US-Iran situation.
Commodities Check
Oil prices edged higher, with Brent crude trading near $96 per barrel amid concerns over potential disruptions to energy infrastructure in the Middle East. Meanwhile, gold and silver prices witnessed mild profit booking, declining slightly in early trade.
Market Outlook
While the current rally reflects improving global sentiment, analysts caution that volatility may persist due to geopolitical risks and sector-specific pressures. Investors are likely to remain focused on global developments, corporate earnings, and commodity price trends in the near term.