A day after facing its sharpest fall in 10 months, the Indian stock market bounced back with strong momentum on Tuesday, April 8. In early trade, investor sentiment appeared to recover from the US tariff-driven panic that rocked global equities the previous session.
At 9:15 am, the BSE Sensex opened 1,141.14 points higher, gaining 1.56% to reach 74,279.04. Meanwhile, the NSE Nifty jumped 401.10 points or 1.81% to open at 22,562.70.
Tata Steel leads gainers; Sun Pharma the only laggard
Among the 30 Sensex constituents, Tata Steel led the rally with a sharp 4.98% rise, trading at ₹136.05. Titan Company followed, up 4.71% at ₹3,166.05, and Tata Motors gained 3.48%, trading at ₹600. Only Sun Pharmaceutical Industries remained in the red, slipping 0.34% to ₹1,662.75.
Consumer durables, metal, realty sectors shine
Sector-wise, the Nifty Consumer Durables Index surged the most, climbing 3.25% to 35,112.40. The Nifty Metal Index followed with a 2.99% gain at 8,080.90, while the Nifty Realty Index rose 2.42% to 795.
Recap of the Monday market meltdown
The rebound comes after a brutal session on Monday, April 7, where the Sensex plunged 2,226.79 points or 2.95% to close at 73,137.90. The Nifty fell 742.85 points or 3.24% to settle at 22,161.60. The massive selloff was triggered by investor fears linked to new US tariffs, resulting in panic across global markets.
On Monday, Tata Steel saw the steepest drop among Sensex stocks, falling 7.73% to ₹129.60. It was followed by Larsen & Toubro (down 5.78% at ₹3,070.85) and Tata Motors (down 5.54% at ₹579.85). Hindustan Unilever was the sole gainer, inching up 0.25% to ₹2,250.15.
Sector-specific losses: Metal and Realty tumble
The Nifty Metal Index recorded the sharpest sectoral fall of 6.75% on Monday, closing at ₹7,846.35. Realty followed, down 5.69% at ₹776.20, and Media declined by 3.94% to ₹1,429.90.
In the metal space, Lloyds Metals & Energy tanked 8.86%, National Aluminium fell 7.86%, and JSW Steel dropped 7.53%. Among real estate stocks, Anant Raj declined 7.66%, Sobha 7.46%, and DLF 7.03%. In media, Zee Entertainment Enterprises fell 6.80%, followed by PVR Inox (5.55%) and Dish TV (4.35%).
FIIs sell big, DIIs buy bigger
Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹9,040.01 crore. In contrast, Domestic Institutional Investors (DIIs) picked up the slack, buying ₹12,122.45 crore worth of stocks.
Meanwhile, the 10-year Indian Government Bond saw a 0.23% decline, trading at ₹102.05.
