Share Market Rise: Due to these 3 reasons, the share market returned bullish, Sensex jumped 850 points, Nifty crossed 24,000.
Business Desk – Share Market Rise: After Thursday’s fall, Indian stock markets witnessed a tremendous rise today on April 10. In early trade, the Sensex jumped by 850 points, while the Nifty climbed close to the 24,000 mark. Buying in banking stocks and strong signals from global markets supported the market.
There was a positive buying environment in the entire market also. The Nifty Smallcap 100 index rose 1.58%, while the Nifty Midcap 100 index gained 0.85%. Talking about sectoral indices, 14 out of 16 sectors were trading in the green; Weakness was seen only in the pharma and IT sectors.
At around 10:30 am, the Sensex was trading at 77,463.27, up 831.62 points (or 1.09%). At the same time, Nifty was seen trading at 24,013.95, registering a gain of 238.85 points (or 1%).
Sensex and Nifty have risen by about 5.5% so far this week. As a result, the trend of decline in the stock market that has been going on for the last six weeks now seems to be breaking. A major reason for this change is the news related to the two-week temporary ceasefire between America and Iran.
Three main reasons behind today’s rise in the stock market
- Huge buying in financial stocks
The main reason for this rise was strong buying in financial and banking stocks. During the trading session, the financial sector gained about 1.6%, while for the entire week the sector has gained 8.2%. PSU Bank and Private Bank indices also showed strength, due to which a positive environment remained in the market.
- Strong signals from global markets
Asian stock markets also witnessed a bullish trend today, which provided support to the Indian market. Major indices of Japan, South Korea, China and Hong Kong were seen trading in the green. At the same time, strength was also seen in American markets. The S&P 500 index closed above the 6,800 level. Apart from this, Dow Jones’ returns for 2026 also became positive.
In particular, there was a tremendous boom in US tech companies. After the news related to AI chip development, Amazon shares rose by more than 5 percent. Similarly, Intel and Google’s parent company Alphabet also showed strength due to reports related to semiconductor partnership. Analysts believe that expectations of a ceasefire between the US and Iran have increased investor confidence. However, the geopolitical situation still remains uncertain.
- rupee gets stronger
On Friday, the Indian Rupee also strengthened against the US Dollar, which improved the market mood. Rupee rose by 10 paise to reach 92.41. In the Forex market, it opened at 92.58 and then strengthened and touched the level of 92.41. Forex market experts say that due to global events and deadlines related to RBI rules, there may be fluctuations in the market throughout the day. Apart from this, the market is now eyeing the results of the US-Iran talks to be held on Saturday.
According to analysts, these talks will have an impact on the prices of crude oil, which will decide the direction of the market in the future. If tensions ease, markets like India may benefit. On the contrary, a rise in oil prices may put pressure on investors’ mood.
What are the technical charts indicating?
According to Anand James, Chief Market Strategist, Geojit Investments, the bullish trend in Nifty is likely to resume, which is getting support from the ‘Flag Formation’ pattern. He said that the range of 23,822–23,930 still remains an important resistance level.
If Nifty gives a strong breakout above this level, then the index can reach the level of 24,400. However, if Nifty fails to hold above 23,930, it may see a decline and may slip to the level of 23,465.
Comments are closed.