Sensex surges over 2%, investors earn Rs. 10 lakh crore

STC NEWS DESK
MUMBAI, APRIL 15 (STC): Indian equity indices ended on strong note with Nifty above 23,300 today. At close, the Sensex was up 1,577.63 points or 2.10 percent at 76,734.89, and the Nifty was up 500 points or 2.19 percent at 23,328.55.
The volatility index India VIX crashed nearly 20 per cent to reach levels near 16.
The buying was even more robust in the broader market, as the BSE Midcap and Smallcap indices vaulted 3.02 per cent and 3.21 per cent, respectively.
Investors earned about ₹10 lakh crore in a single session as the overall market capitalisation of firms listed on the BSE rose to nearly ₹412 lakh crore from nearly ₹402 lakh crore in the previous session.
The robust gains for the second consecutive session came on the heels of easing trade war jitters and a growing belief that India will remain relatively less impacted by Trump’s tariffs. US President Donald Trump has announced a 90-day pause on reciprocal tariffs. Moreover, reports suggest that India has decided to pursue a path of trade liberalisation with the US.
“India has decided to go for a path of trade liberalisation with the US,” Reuters reported, quoting trade secretary Sunil Barthwal, who said so to reporters.
“The two countries will start virtual discussions on the deal this month, with the next round of in-person talks scheduled for mid-May,” said Rajesh Agrawal, an additional secretary in the trade ministry, according to Reuters.
Besides, expectations of further rate cuts, declining inflation, and hopes for a healthy corporate earnings season also support market sentiment.
“The rally was driven by optimism around the deferral of tariffs and the recent exemptions on select products, raising hopes for potential negotiations that could ease the overall impact on global trade,” said Ajit Mishra, SVP of Research, Religare Broking.