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Relief rally lifts Sensex, Nifty ahead of RBI MPC outcome

IANS
Updated: April 8th, 2025, 16:13 IST
in Business
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Sensex

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Mumbai: The Indian stock markets staged a robust relief rally Tuesday, snapping a three-day losing streak ahead of the Reserve Bank of India’s (RBI) monetary policy decision April 9.

Both the Sensex and Nifty rose sharply, each gaining around 1.5 per cent by the end of the day as investors brushed aside concerns over US tariff threats.

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The Sensex jumped 1,089 points, or 1.49 per cent, to close at 74,227.08, while the Nifty climbed 374 points, or 1.69 per cent, to settle at 22,535.85.

The rebound came after sharp declines in the previous sessions driven by worries around US President Donald Trump’s proposed reciprocal tariffs from Wednesday (US time) and rising trade tensions with China.

Broader markets also participated in the rally, with the BSE Midcap index rising by 1.87 per cent and the Smallcap index advancing 2.18 per cent — showing strong investor interest across the board.

Sector-wise, the gains were led by Nifty Financial Services, FMCG, IT, PSU Bank, Auto, and Realty, which all posted gains of up to 2 per cent.

On the 30-stock Sensex index, top performers included Titan, which rose 3.25 per cent, followed by Bajaj Finance at 3.21 per cent, Larsen & Toubro at 3.07 per cent, State Bank of India at 3 per cent, and Axis Bank at 2.91 per cent.

Power Grid was the only stock that closed lower. The positive sentiment was also reflected in global markets.

Japan’s Nikkei 225 posted a stunning 6 per cent gain, while the Shanghai Composite Index jumped 1.58 per cent, and Hong Kong’s Hang Seng Index rose 1.51 per cent.

Investors are now keenly awaiting the outcome of the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) meeting on rate cut and others.

Alongside the policy review, upcoming corporate earnings for the fourth quarter (Q4) and other key macroeconomic indicators will also guide investor sentiment through the week.

“Market sentiment remains upbeat as investors bet on a steady policy from the central bank and strong domestic fundamentals,” experts noted.

“India is getting ready for the RBI MPC tomorrow, where we expect a 25bps rate cut (in line with consensus),” said Jaykrishna Gandhi of Emkay Global Financial Services.

He added that “we also expect a possible change in stance to ‘accommodative’ to give directional easing bias.”

IANS

Tags: Donald Trumphong kongNiftyRBI MPCSensexUS tariff
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