New Delhi [India], April 21 (ANI): Indian stock indices soared for the fifth straight session on Monday. Market experts believe the positive bias in Indian equities is likely to continue throughout the week, mainly due to consistent foreign investments and strong global cues.
Sensex closed at 79,408.50 points, up 855.30 points or 1.09 per cent, while Nifty closed at 24,125.55 points, up 273.90 points or 1.15 per cent, respectively.
The market capitalisation of BSE-listed companies has again reached the USD 5 trillion mark after three months, with the latest jump in broader indices.
“A softer US dollar and expectations of progress in global trade discussions added to the positive sentiment,” Vikram Kasat, Head – Advisory, PL Capital, said.
Indian stock indices have been rising amid global trade uncertainties that have emanated from the Trump administration’s reciprocal tariffs and Chinese counter tariffs. Indian stock indices have seen some upward movement since Trump’s decision to pause the reciprocal tariffs on dozens of countries, including India, for 90 days.
India’s retail inflation has touched a 67-month low in March, lending some support to the stock indices.
The tariffs had initially set off a sell-off in equities globally, and India was no exception. Tariffs stoked fears of trade tension and an economic recession.
“Even though the global economic scenario is mired in uncertainty, India appears relatively resilient. India is the only large economy which can grow at 6 per cent even in a slowing global economy. This, along with the declining dollar, has the potential to attract more FPI inflows into India in the short run,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
“The possibility of India striking a deal with the US in the next few months is being perceived by the market as positive. Viewed from the perspective of the short-term market construct, it is Advantage India,” Vijayakumar added.
Since assuming office for his second term in January, President Donald Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade. (ANI)
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