Indices Maintain Buoyancy at Noon; Sensex up 1,710 pts, Nifty At 535.95 pts higher 

Mumbai, April 1: Markets extended their early gains in the noon session on Wednesday, buoyed by persistent optimism about a possible end to conflict as global cues cheered investors. The benchmark BSE Sensex rose 1,710.51 points or 2.38% at 73,658.06 as of 12: 43 pm, while NSE Nifty 50 traded at 22,867.35, higher by 535.95 points or 2.40% at 12:58 PM — trimming off some earlier highs but remaining in positive territory (day’s high of 22,941.30).

All of Wednesday’s upside can be traced to one global development. US President Donald Trump tweeted that conflict with Iran may come to an end ‘within weeks’, stating that America was “finishing the job.” Tehran responded with a statement saying it was ready to end conflict, while the White House has stated Trump will address the nation tonight to provide an update on the situation.

Investors understood the message loud and clear: they bought with conviction. India’s fear gauge India VIX tumbled — down by 11.68% to 24.63.

With fear indices plunging and indexes remaining strong, it’s also clear that today’s jump wasn’t panic buying yesterday evening reversed, but rather a bona fide change in investor attitude.

Sectoral Leaders 

Sectoral ETF Nifty India Defence surged 6.20% to 7,661.70; 52-week high of 9,195.15. Nifty Capital Markets rose 5.36% to 4,479.60. Nifty Waves jumped 6.31% to 1,682.50. Nifty India Railways PSU climbed 5.28% to 2,894.00. Nifty India Tourism spiked 5.09% to 6,849.15 — airline and travel stocks repriced sharply on expectations of a ceasefire. ETF Nifty SME Emerge climbed 5.73% to 11,657.40. Nifty Microcap 250 gained 5.17% to 19,868.95.

Nifty Midsmall Financial Services increased 4.36% to 18,861.25. Nifty PSU Bank rose 4.44% to 8,222.85 — which means Nifty PSU Bank is up 31.47% over the past year. Nifty Metal jumped 3.77% to 11,558.50. Nifty Financial Services Ex-Bank gained 3.76% to 28,026.35. Nifty IT rose 3.02% to 29,939.15.

Nifty Media advanced 4.02% to 1,312.55. Nifty Midcap Select gained 3.74% to 12,613.85. Nifty Smallcap 100 climbed 4.13% to 15,831.55, handily beating the Nifty 50’s 2.41% gains to date. These numbers confirm what we’re seeing elsewhere: this is a true risk-on move by market participants, not just cherry picking. Sectoral Laggards NSE Nifty Pharma edged up only 0.29% to 22,295.95. Nifty Healthcare eked out a gain of 0.13% to 14,219.90.

The two barely budged as traders sold defensives en masse. Nifty FMCG rose 1.62% to 46,277.80 and has given back 12.85% year-over-year. Nifty Oil & Gas rose 2.06% to 11,010.20 — with crude prices remaining above $103, energy stocks didn’t pop. Gold Gold rallied in lockstep with the market. This usually isn’t the case for safe havens, but investors were content to park some funds in gold alongside equity holdings. The price of 24-karat gold rose ₹197 to ₹15,148 per gram. 22-karat gold prices traded at ₹13,885 per gram, up ₹180. 18-karat gold rallied ₹148 to ₹11,361 per gram. When markets bid up both stocks and gold together, it typically means they want exposure to both because they believe peace is near — but aren’t completely sure it’s here yet.

Source:

• https://www.nseindia.com/market-data/live-market-indices
• https://www.bseindia.com