April 15th witnessed a significant surge in the Indian stock market. The Sensex jumped by 1750 points. Trump's statement on auto tariff relief, global market gains, and the performance of heavyweight stocks contributed to this positive market trend.
Stock Markets Today: A b rally was observed in the Indian stock markets on Tuesday, April 15th, marking the second consecutive day of market strengthening. US President Donald Trump's comments on tariff relief significantly improved investor sentiment. During this period, the BSE Sensex climbed 1,750.34 points to reach 76,907, while the Nifty 50 index surged 540 points to reach 23,368.
Regarding broader markets, the Nifty MidCap and Nifty SmallCap indices experienced gains exceeding 2%. A total of 2,574 shares were traded on the NSE, with 2,316 shares showing gains, 196 showing losses, and 62 remaining unchanged.
Three Major Reasons for the Stock Market Surge on April 15th:
1. Boost from News of a 'Pause' on Auto Tariffs
The most significant factor driving today's market surge was Trump's statement offering temporary tariff relief to the automobile sector. Trump stated that "automobile companies need more time to shift production from Canada, Mexico, and other countries." Following this announcement, auto sector stocks experienced a remarkable upswing. The Nifty Auto index rose by 3%, with stocks in this sector witnessing gains of up to 8%. Samvardhana Motherson International, Bharat Forge, and Tata Motors shares rose by 5-10%.
2. Rise in Heavyweight Stocks
Most heavyweight stocks included in the Sensex showed strength. Prominent names like HDFC Bank, ICICI Bank, L&T, Reliance Industries, Bharti Airtel, M&M, Axis Bank, and Tata Motors propelled the market upward.
3. Global Market Gains
Global markets also reflected a positive atmosphere following Trump's comments. The Indian market performed best among Asian markets. Japan's Nikkei index rose by 1%, Australia's ASX200 increased by 0.37%, and Hong Kong's Hang Seng index saw a 0.2% gain. Auto stocks in Japan and South Korea also saw significant gains. In Japan, Suzuki Motor climbed over 5%, while Mazda, Honda, and Toyota shares saw increases of approximately 5%. In South Korea, Kia Corp rose by 2.89% and Hyundai Motor by 2.57%.
Technical Levels for Nifty
Technically, the 22,600-22,500 range is considered b support for the Nifty, while the 22,200-22,000 level could act as the next support below that. On the other hand, the Nifty may face resistance at 23,000 and subsequently at 23,200-23,300.
According to Smit Chauhan, Angel One's Head of Technical and Derivatives Research, "If the Nifty decisively crosses these resistance levels, the bullish momentum in the market could intensify." However, experts advise investors to remain cautious, as Trump reiterated his intention to impose tariffs on the pharmaceutical and semiconductor sectors.
