Building on Friday’s big move, the frontline indices rose 2–3% on Tuesday, April 15, surpassing their closing levels from April 2. This made India the first major equity market globally to erase the tariff-induced losses. In contrast, a broader gauge of Asian equities remains down more than 3% since the tariff announcements.
After a strong opening, the Nifty managed to sustain higher levels and ended the day with hefty gains of 500 points, closing at 23,329. From the April 7 low of 21,743, the index has risen more than 1,600 points in just five trading sessions.
Broader market indices mirrored the benchmark’s positive momentum. The Nifty Midcap 100 and Smallcap 100 indices witnessed strong gains of 2.90% and 3.10%, respectively, indicating widespread buying interest.
Across sectors, bullish sentiment prevailed, with all sectoral indices closing in the green for the second straight day. The volatility index slipped 19%.
As many as 49 of the 50 Nifty stocks ended higher, rising up to 7%. Big gains in heavyweights like Reliance Industries, HDFC Bank, and ICICI Bank lifted the Nifty.
Shares of Tata Motors Ltd., Samvardhana Motherson Ltd., and Sona BLW Ltd. rose up to 8%, after US President Donald Trump’s latest comments on auto tariffs. He said that he is looking to “help some of the car companies,” as they need “a little bit more time” to shift production to the US.
BSE-listed companies added ₹11 lakh crore in market capitalisation in March, taking the total market cap to ₹412 lakh crore.
Investors will be closely tracking the retail inflation (CPI) data to be released post-market on Tuesday. Further, focus will be on the key Q4 earnings announcements, including those from Wipro and Angel One tomorrow.
Additionally, stocks like Ireda, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company will also be in the spotlight tomorrow, as these companies reported their Q4 numbers after market hours on Tuesday.
“We expect positive momentum to continue in the market, on hopes of global trade settlements and softening in US reciprocal tariffs,” said Siddhartha Khemka of Motilal Oswal.
Meanwhile, foreign investors turned net buyers in the cash market on Tuesday, while domestic institutional investors were net sellers.
What did the Nifty 50 charts indicate?
Nagaraj Shetti of HDFC Securities believes the near-term uptrend of Nifty remains intact. “The next upside targets to be watched around 23,650 and 23,870 levels in the next 1-2 weeks. Immediate support is placed at 23,200 levels.”
Although the sentiment appears positive, a hint of fatigue is visible in the index following the steep rally over the past few days, said Rupak De of LKP Securities. Therefore, he said that the possibility of a minor pullback on the downside cannot be ruled out.
“Support is placed at 23,300; a decisive break below this level could trigger a correction towards 23,000. Resistance is placed at 23,370 and 23,650,” De added.
“Technically, the Nifty has decisively reclaimed levels above its 20, 50, and 100-day EMAs, a clearly encouraging sign for the bulls. Looking ahead, the next significant resistance level for the Nifty appears to be around 23,869, which coincides with the previous swing high. On the downside, the 22,900-23,000 zone is likely to provide immediate support for the index,” said Nandish Shah – Deputy Vice President at HDFC Securities.
What do the Nifty Bank charts indicate?
The Nifty Bank concluded the session with strong gains, rising 2.70% to close at 52,379.50. The index not only surpassed its previous swing high of 52,064 but also closed above these level, signalling a continuation of bullish outlook.
“Nifty Bank now comfortably holds above all key moving averages, reaffirming the underlying strength. The daily RSI holds around the 65 level. The resistance is now placed at 53,900, which aligns with the 161.8% Fibonacci extension. The positive momentum is expected to remain intact as long as the index sustains above the crucial support level of 51,800,” said Om Mehra of SAMCO Securities.
Here are the stocks to watch ahead of Wednesday’s trading session:
– Tata Motors, JBM: Sources Say, Govt To Launch Tender For Procurement Of 10,000 eBuses
– ICICI Pru: Mixed Set Of Earnings, APE Misses While VNB Is Higher Vs Estimates
– ICICI Lombard: Healthy Set Of Earnings, Net Earned Premium Rises 20% YoY
– IREDA: Q4 AUM Up 28% YoY, NII Up 57% YoY
– Vedanta & Oil India: Cairn Oil & Gas Gets 7 New Blocks & Oil India 9 Blocks In OALP Round-IX
– PB Fin: Arm PB Pay Gets In-Principle Nod From RBI To Operate As Payment Aggregator
– IndusInd: Srcs Say Discrepancy Impact Almost In-line, May See 3 Sr-lvl Exits Incl CEO
– City Gas Cos: APM Gas Allocation Reduced Again, By 18% Effective Today
– Gensol Engg: SEBI To Appoint Forensic Auditor, Bars Promoters From Dealing In Securities
– Landmark Cars: Q4 Revenue Down 9%, Vehicle Sales Down 9% QoQ
