Domestic markets extended their winning streak for the fourth consecutive session, with benchmark indices closing firmly in the green on April 7. Strong buying in IT stocks ahead of the Q4 earnings season helped markets brush aside global uncertainties and geopolitical concerns.
The Nifty 50 opened on a strong note and maintained momentum throughout the session, closing above the crucial 23,100 mark. The index gained 155.40 points (+0.68%) to settle at 23,123.65, while the Sensex rose 509.73 points (+0.69%) to end at 74,616.58. However, the Bank Nifty lagged slightly, closing with a modest gain of 0.2% at 52,716.25.
Volatility eased during the session, with India VIX declining ~3% to below 25, indicating improving investor confidence.
What Drove the Market Today?
IT Stocks in Focus: Strong buying emerged in IT counters ahead of Q4 results, with TCS set to kickstart the earnings season on April 9. Attractive Valuations: Post-correction bargain hunting continued to support the rally. Stable Rating Boost: Moody’s reaffirmed India’s Baa3 (BBB-) rating with a stable outlook, improving sentiment. Crude Oil Eases: Prices cooled to around $105/barrel, reducing inflationary pressure concerns. RBI Policy Watch: Investors stayed cautious ahead of the RBI MPC decision, expected tomorrow.
Sectoral Performance
Top Gainer: Nifty IT Index (+2.5%) — all constituents ended higher Broad Market: Nifty Midcap 100: +0.2% Nifty Smallcap 100: -0.06% Only Loser: Nifty PSU Bank (-0.71%)
Top Movers
Index Contributors (Upside):
Infosys Bharti Airtel ICICI Bank
Index Draggers (Downside):
Mahindra & Mahindra Dr. Reddy’s Laboratories InterGlobe Aviation
Stock-Specific Action:
Kalyan Jewellers: -1.43% despite positive outlook Jubilant FoodWorks: -10.4% on weak business update
Market Breadth & Internals
Market breadth remained strongly positive, indicating broad-based participation:
Advances: 2,082 Declines: 1,149 Unchanged: 83 52-week Highs: 25 52-week Lows: 22 Upper Circuits: 185 Lower Circuits: 42
Wealth Creation Snapshot
In just the last 4 trading sessions, investor wealth surged significantly:
Total Market Cap (BSE) March 30: ₹4,11,55,003 Cr April 7: ₹4,29,23,710 Cr
👉 Wealth Added: ₹17,68,707 Crore
What This Means for Investors
The trend remains bullish, but markets are nearing short-term resistance zones — avoid aggressive fresh buying at higher levels. IT sector momentum could continue with earnings — consider staggered exposure instead of lump-sum entry. Volatility cooling is positive, but RBI commentary tomorrow could set the near-term direction. Stick to quality large caps and staggered SIP-style deployment rather than chasing momentum.
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Angeeras Securities 