Friday Cheers: Nifty Ends at 22,800, Sensex up 1,300 points; Metals, Pharma, Auto Gain

Indian benchmark indices ended on a positive note on Friday, April 11. Sensex went up by 1310.11 points or 1.77% to 75,157.26, while Nifty closed at 22,828.55, up 429.40 points or 1.92%.

Index gainers

Broader markets outperformed as BSE Midcap index went up by 1.84% and Smallcap index climbed by 3.04%.

Market holidays

This week only had four trading sessions as the market remained closed on April 10 on the observance of Mahavir Jayanti. Next week, markets will remain closed on April 14 (Ambedkar Jayanti) and April 18 (Good Friday), which leaves just three sessions for trading.

Why did stock markets rally today?

Following US President Donald Trump’s 90-day pause on reciprocal tariffs, the street remained optimistic. Though the 10% base tariff still remains in place, the relief on additional duties eased off the pressure from sectors including steel, aluminium, and auto components.

A weakening US dollar (generally seen as a positive indicator for emerging markets like India) also played a key role in boosting the investor sentiments in the street. Notably, a weak dollar makes the domestic industry competitive, which in turn attracts investments from foreign portfolio investors.

Sectoral performance remained upbeat as Nifty Pharma and Nifty Metal led the rally.

Gainers and losers

Shares of Hindalco, JSW Steel, Tata Steel, Coal India and Jio Financial ended in green, while Asian Paints, Apollo Hospital, and TCS crashed.