Last Updated on April 7, 2026 9:58 pm by INDIAN AWAAZ
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By Our Business Correspondent
Domestic equity markets staged a strong recovery on Tuesday after a volatile trading session that began on a weak note but ended with benchmark indices posting solid gains. Investor sentiment remained cautious during the day due to elevated crude oil prices and ongoing geopolitical tensions, but buying interest in select sectors such as information technology, metals and FMCG helped the markets close firmly in the green.
The benchmark BSE Sensex climbed 509.73 points, or 0.69 per cent, to settle at 74,616.58. Meanwhile, the Nifty 50 index rose by 155.40 points, or 0.68 per cent, ending the session at 23,015.90. The indices had opened lower amid selling pressure but gradually recovered as the day progressed, supported by gains in heavyweight stocks from the IT and metal sectors.
Market experts attributed the rebound to selective buying by investors who took advantage of relatively attractive valuations in certain sectors. According to Vinod Nair, Head of Research at Geojit Investments, the domestic market continued its recovery trend despite opening weak due to concerns over rising crude oil prices and geopolitical developments.
He noted that investor caution remained visible throughout the trading session, particularly due to uncertainties surrounding tensions involving Donald Trump and Iran, which have raised concerns in global markets. However, sectoral strength in IT, FMCG and metal stocks helped lift the broader indices.
IT Sector Leads Gains
The Nifty IT index emerged as the top performer, rising more than 2 per cent during the session. Analysts attributed the rally to valuation comfort and currency-related benefits, as a relatively weaker rupee tends to support earnings for export-oriented IT companies.
Large-cap technology stocks attracted buying interest as investors positioned themselves ahead of upcoming quarterly earnings announcements. The sector also benefited from renewed optimism regarding global technology spending.
Metals Rally on Commodity Strength
The Nifty Metal index gained around 1.55 per cent, supported by firm global commodity prices and expectations of improved demand in international markets. Metal stocks have been sensitive to global economic developments, particularly in major manufacturing economies.
Investors showed interest in steel and mining companies amid expectations that infrastructure spending and industrial demand could remain resilient in the coming months.
FMCG and Banking Show Moderate Gains
Defensive buying was also visible in consumer goods stocks. The Nifty FMCG index rose by about 0.82 per cent as investors sought stability in the sector amid global uncertainties. Positive pre-result commentary from major companies further boosted sentiment.
Banking stocks presented a mixed picture. While the Nifty Private Bank index advanced by 0.49 per cent, the Nifty PSU Bank index slipped by 0.71 per cent, reflecting selective profit-booking in state-owned lenders.
Other sectors also recorded modest gains. The Nifty Media index rose 0.80 per cent, while the Nifty Auto index edged up marginally by 0.08 per cent.
Global Factors Influence Markets
Global cues continued to shape investor behaviour. Crude oil prices remained elevated, with Brent Crude trading around USD 109 per barrel despite some moderation during the session. High energy prices have raised concerns about inflation and potential pressure on economic growth.
Safe-haven assets also remained firm amid geopolitical uncertainties. Gold prices stood at around Rs 1,50,439 per 10 grams for 24-carat purity, while silver traded near Rs 2,33,306 per kilogram.
Mixed Trend in Asian Markets
Asian stock markets presented a mixed performance during the day. Japan’s Nikkei 225 gained 0.26 per cent to close at 53,552, while Taiwan’s weighted index surged 1.98 per cent to 33,229. However, Singapore’s Straits Times Index declined by 0.29 per cent, and Hong Kong’s Hang Seng Index fell 0.71 per cent.
Outlook
Analysts believe market volatility may persist in the near term as investors continue to monitor geopolitical developments, crude oil prices and global economic signals. However, selective sectoral opportunities, particularly in IT, metals and defensive consumer stocks, may continue to provide support to the broader market.